*Trafigura Beheer BV v Navigazione Montanari Spa

Charterparty – Construction. The Commercial Court held that, on the true construction of a charterparty, motor oil (cargo) transferred by pirates from a vessel did not amount to 'in transit loss' or 'cargo loss' within the meaning of the charterparty. Accordingly, the owners of the vessel were not liable to the charterers under the charterparty.

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