Anticipatory breach – voyage charter party – charterers’ failure to provide cargo held repudiatory.
The vessel was chartered on the Gencon form to carry scrap iron from Basrah to Buenos Aires.
The vessel arrived at the load port 6 days after the ETA.
A series of consecutive sales had been entered into for the supply of cargo.
Because of the sharp rise in the price of scrap iron, the originating supplier reneged on his contract with the charterers. As a result the vessel was unable to tender a notice of readiness to the nominated shipper.
Neither were the charterers able to provide assurances that a cargo would be made available.
Six days after arrival, owners re-chartered the vessel at a substantial loss.
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