LITASCO Clauses as Incorporated Into the EXXONMOBILVOY 2005 Form of a Charterparty

In Lukoil Asia Pacific Pte Ltd v Ocean Tankers Pte Ltd (The Ocean Neptune), an appeal from a Partial Final Award issued by LMAA arbitrators, the High Court of England determined, in allowing the appeal, that the true meaning of the LITASCO Clauses as incorporated into the EXXONMOBILVOY 2005 form of charterparty was that a claim for time spent in awaiting charterers orders at anchorage was a claim within the laytime and demurrage scheme of the charterparty when taken as a whole, such that the claim for time lost in awaiting orders in this case failed for want of compliance with the demurrage claims presentation time-bar within the charterparty for the four port calls in question. As reported by DMC