Investigation of Flexibility of Charterer Legal ‎Obligations in Crude Oil Mostly Used Voyage ‎Standard Forms of Charter Party Agreements

Document Type : ISI

Authors

1 Professor of Law Faculty at Frabi Campus of Tehran University

2 PhD Student of Oil and Gas Law at Frabi Campus of Tehran University

Abstract

By considering the complexities of seaborne carriage of crude oil on the one hand and the traditional restrictions of voyage charter parties from the other, this Article tends to study the effects and the number of contractual flexibilities of under-investigation standard forms of agreements on the charterers’ legal obligations in crude oil voyage charters. Investigation of mostly used standard forms of charter party agreements including BPVOY4, SHELLVOY6 and ExxonMobil VOY2005 indicates that charterer obligations in those agreements, in the light of high bargaining power of voyage crude oil charterers due to the reasons such as high price of crude oil in comparison with other cargos and even in comparison with  price of tanker itself and the strategic nature of crude oil in contrast with other cargos, has taken distance from its traditional strict framework and has found remarkable flexibilities.

Keywords

References

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Journal Of Researches Energy Law Studies
Volume 7, Issue 2
August 2022
Pages 337-354

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