Changes

As Agribusiness’ new buyers required delivery to Lebanon, Agribusiness and the owners of the vessel had to amend the charterparty to provide for new discharge ports. The bills of lading would also have to be switched to reflect the change. The addendum to the charterparty was signed on 7 November 2016 and, the next day, one switch bill of lading covering all the cargo was issued at the counters of the Bank against the cancellation of the original bill of lading. As with the original bills, the switch bill incorporated the charterparty arbitration clause. The cargo was delivered against the switch bill of lading.

On 22 March 2017, the bank commenced arbitration proceedings against the owners of the vessel under different bills of lading relating to a cargo of corn carried on the same voyage. The Owners brought a counterclaim against the Bank under the switch bill of lading for demurrage and detention.