• Journal of Korea Port Economic Association
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• v.24 no.2
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• pp.19-41
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• 2008

The purpose of this study aims to explore scope of damages resulted from early redelivery under time charter with the Golden Victory case. In this case, disputes arose in relation to the quantum of damages recoverable by th owners. The owners contended that the second Gulf War was irrelevant to their claim, which was to be assessed at the difference between the charter rate and the lower market rate for the whole of the remaining four-year period of the charterparty. The charterers contended that since clause 33 would have entitled them to cancel the charter on the outbreak of the second Gulf War, two years after the repudiation, the owners' claim for damages only ran for those two years. There was no such rule as was contended for by the owners, and that the damages had to reflect the fact that, had there been no repudiatory breach, the charterparty would not have run its full term because the charterers would have cancelled the charter on the outbreak of the second Gulf War.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2005.10a
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• pp.335-340
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• 2005

This thesis tries to evaluate the economic benefit of space chartering in comparison with time chartering with respect to mega container ships. For this it reviews the method of obtaining ship's carrying capacity such as time chartering and space chartering. Based on this, it tries to make comparison between the time chartering and space chartering on economic base. Finally, it suggest the economic benefit of space chartering with direction for further study.

• Journal of Korea Port Economic Association
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• v.25 no.2
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• pp.231-246
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• 2009

The time charterer depends on speed and bunker consumption rate of time chartered vessel because it is related charterers' benefit. It is important role of stipulated speed and daily bunker consumption rate at the Time Charter Party, it is generated any dispute against speed and daily bunker consumption rate deficiency. The case of dispute is a restricted word of stipulated speed and daily bunker consumption rate at Charter Party as "about", "good weather or good weather day", "smooth water", "ocean current" and "without guarantee". It happens a dispute against speed and daily bunker consumption rate because it is not well-educated as a vessel operator regarding Time Charter Party interpretation.

• International Commerce and Information Review
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• v.15 no.2
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• pp.285-313
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• 2013

By the revision of the Commercial Code of Korea in 1991 and 2007, some provisions for the regulation of Time Charterparty have been introduced into our own maritime law system. But, those provisions are in their nature mainly the reproduction of the provisions prescribed in the standard forms of time charterparty which are widely used, such as BALTIME Charter and NYPE Form, and the subject matters of their regulation are restrictive, so that the applicability of the provisions is not desirable. The cargo is lost or damaged, the cargo owner should seek compensation form, or sue, the carrier as, traditionally, under the COGSA, the cargo carrier is responsible for loss of damage of cargo. However, it is difficult to determine who is the responsible carrier under charters. There is no test to determine the carrier, but the courts in every country generally consider the bill of lading. Although the master has general authority to sign bills of lading on behalf of the shipowner, he can also sign bills of lading for, and on behalf of, the charterer. In this case, the charter is considered the carrier. Furthermore, the charterer is authorized to contract with third parties on behalf of the shipowner and, as such, the responsible carrier is the shipowner. Therefore, when determining the carrier we should examine carefully the all factors and the circumstances surrounding the case. Also, negligence of a captain of a time-chartered ship causing damages to a third party. It will analyze the legal character of a time-charter contract, review judicial precedents on time-charter. The Inter-Club Agreement was drawn up and is intended to be a somewhat easier way of allocating liability for cargo claims between owners and charterers and, although there is still scope for disputes to arise, the Inter-Club Agreement does in fact to some extent make the allocation of liabilities for cargo claims easier. Finally, it will also make legislative suggestions to resolve complex issues involving maritime transportation contracts under the current Commercial Code.

• Journal of Navigation and Port Research
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• v.38 no.1
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• pp.81-87
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• 2014

Today, it is a trend that the demand of offshore plants is constantly growing, along with the advances in technology which are thoroughly needed to the rise of international oil price as well as offshore energy development. In addition, The main sectors of ship building, sale & purchase and chartering market regarding various kind of offshore supporting vessels that supports the business of offshore energy development is now maintaining its steady growth. However, in domestic case, the contract of time charter occasions regarding the offshore support vessel are almost non-existing situation. Thus, the relevant practical study regarding to implementation of various kinds of legal disputes and applicable laws that can be properly applied in time charter and the field of sale & purchase needs to be conducted actively. Therefore, the concept of this study has included the wide comparisons of other special provisions with the existing time-charter by making its base on "Supply Time 2005" which is the worldwide standard form of time charter in offshore support vessel market and its investigation, aiming to provide practical guidance and procedure for implementation of arbitration and applicable law issues which can be applied in legal disputes between parties.

• Journal of Korea Port Economic Association
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• v.29 no.1
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• pp.47-66
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• 2013

This article reviews some problems arises from signing by the master bills of lading issued on time chartered ship. The underlying purpose of time charters is generally for the charterers to have the services of the vessel in order to engage in the business of carriage of goods by sea, a business which is likely to involve the issue of bills of lading to shippers. Charterer under the charter have a right to issue B/L, thereby the master must sign bill of lading as presented, but may not vary the contract. Bills of lading signed by, or on behalf of the master, impose contractual liabilities upon the shipowner. Charterer have no right to ask the master to sign a bill of lading in any way deviating from the charterparty. If the shipowner suffers loss as a result of the master obeying any order about employment or agency, he will be entitled to an indemnity from the charterer. The master may refuse to sign bills of lading which contain some discrepancy such as a false statement and manifestly inconsistent with the requirements of the charterparty.

• Journal of Navigation and Port Research
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• v.30 no.8 s.114
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• pp.663-668
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• 2006

This thesis tries to evaluate the economic benefit of space chartering in comparison with time chartering with respect to mega container ships. For this it reviews the method of obtaining ship's carrying capacity such as time chartering and space chartering. Based on this, it tries to make comparison between the time chartering and space chartering on economic base. Finally, it suggest the economic benefit of space chartering with direction for further study.

• Journal of Korea Port Economic Association
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• v.29 no.4
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• pp.265-288
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• 2013

The purpose of the study aims to analyse the loss incurred by withdrawal of ship under time charter based on the English Law with the MT Kos case. In this case, it is agreed that if the charterers had begun to make arrangements for the discharge of their cargo as soon as they received the owner's notice of withdrawal, the vessel would have been detained at Angra doe Reis for one day. As it was, she was detained there for 2.64 days. The issue is whether the owners are entitled to be paid for the service of the vessel during that 2.62 days, and for bunkers consumed in the same period. Their claim is put forward on three bases: (1) under clause 13 of the charterparty ; (2) under an express or implied new contract made after the vessel was withdrawn, to pay for the time and bunkers; and (3) under the law of bailment. The judge held they were entitled to succeed on basis (3), but rejected every other basis which they put forward. The Court of Appeal rejected the claim on all three bases, except that they allowed the owners to recover the value of bunkers consumed in actually discharging the cargo.

• Journal of Korea Port Economic Association
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• v.23 no.3
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• pp.29-51
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• 2007

The purpose of this study aims to explore shipowner's lost profit and its claim resulted from delay in redelivery under time charter with the Achilleas case. In this case, the charterers submitted that there was an established prima facie measure of damages in cases of late delivery, namely the difference between the market rate and the charter-party rate for the period from the time when the vessel should have been delivered until the time of her actual redelivery. An award for lost profit in respect of a subsequent charter could only be made under the second limb because the charterers had not been told, at or before the making of the addendum, that the owners were going to enter into a subsequent fixture and that it was critical that redelivery take place on time. However, the owners said their losses that was a not unlikely consequence of the charterers' breach. There was no special rule that the first limb could only lead to damages calculated by taking the difference between the market and the charter-party rate for the overrun. To award damages in the Achilleas case on the basis of the difference between the market and the charter rate for the overrun would compensate the owners for only a fraction of the true loss caused by the breach.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2003.05a
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• pp.257-264
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• 2003

The international oil majors have been reducing the size of their own oil tanker fleet since from the beginning of 1980s. Like international oil majors, the Korean refineries are getting more dependent on tanker chartering than tanker ownership for their oil transportation since 1990s. They also prefer spot charter to time charter and this kind of trend continue up to today. Consequently, this paper attempted to find out factors influencing changes in tanker fleet composition. To attain the object, a empirical study is adopted using the ten decision making factors derived from the preceeding study. The findings are that MARPOL and OPA 90, and transportation cost are the most important factors influencing on oil tanker fleet composition.