Ship Law Log

Comment and analysis by Reed Smith lawyers on the latest developments in the shipping industry

Latest from Ship Law Log - Page 3

Reed Smith recently acted for a mortgagee client who successfully purchased a vessel at a judicial auction, following default by a borrower under a loan facility and the vessel’s subsequent arrest.

Introduction

Under English law, charterers’ obligation to pay hire as it falls due is absolute but the right to withdraw a vessel in case of default in charterers’ obligation to pay does not arise automatically. An express term will therefore

This blog post explores the different ways of drafting guarantees and how this interacts with the obligations of parties within the shipping industry.

What is a guarantee?

A contract of guarantee is an undertaking given by one party (the guarantor)