Changes

By unanimous decision, the UK Supreme Court, in allowing Owners’ appeal from the Court of Appeal , held that the force majeure provision at clause 36.3 (fn.1) of the COA did not in this case require Owners, as the party affected by the force majeure event (Charterers being subjected to US sanctions), to accept non-contractual performance in the exercise of “reasonable endeavours” to “overcome” the force majeure event by receiving the freight payment in a different currency.