Research Handbook on Maritime Law and Regulation
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Research Handbook on Maritime Law and Regulation

Edited by Jason Chuah

There have been important developments in commercial practice, technology, shipping infrastructure and sustainability policies in recent times. This Research Handbook examines the major themes surrounding the thinking and studies of maritime law and practice. The stellar panel of contributors take a diverse range of approaches to identify any emerging theoretical and conceptual perspectives in law on what is essentially a fast paced sector of the global economy.
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Chapter 12: Renegotiating shipping contracts in turbulent economic times

Jason Chuah

Abstract

This chapter considers the legal circumstances impacting on the feasibility of the relevant parties coming together to renegotiate their shipping contracts – notably large scale contracts such as charterparties – in times of economic hardship. The imperatives of insolvency law and shipping law are not always the same. Insolvency law is pivoted on a state imposed belief that corporate assets should be protected at times of insolvency. This work attempts to prove that shipping relationships and realities do not always render the continuation of a shipping contractual relationship worth preserving and so shows and tests the tension between insolvency law and party autonomy in that regard.

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