Supreme Court of India
Owners and Parties Interested in M.V. Nereus Progress v. Om Freight Forwarders Ltd.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We hold that a validly issued notice of termination under Clause 31(a) of the BBC was sufficient Page 29 of 31 to bring the demise charter to an end, and that physical repossession thereafter operated only to complete the practical transfer of control of the Vessel.
Judgment, page 28
In brief
The appellant, registered owner of M.V. Nereus Progress, bareboat chartered the vessel to Nereides Marine Services on the BIMCO BARECON 2017 form in October 2024. Nereides persistently defaulted on hire; after repeated demand notices and an anti-technicality notice granting three banking days' grace, the appellant terminated the charter on 13.11.2025 under Clause 31(a)(i) and issued a repossession notice on 19.11.2025, while Nereides delayed disclosing the vessel's whereabouts citing engine trouble, finally reporting arrival at Tuticorin on 02.12.2025.…
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