The SONGA PRIDE: when and where must Owners repossess? in Marine Insurance P&I Club News 25/05/2026 A Croatian shipbuilder, BDOO, agreed to charter a chemical and oil product tanker it was building to Songa Shipping Pte Ltd. The tanker was subsequently named “Songa Pride” (the “Vessel”). The governing terms were a bareboat charterparty dated 11 February 2013 on an amended BIMCO BARECON 2001 form (the “Charterparty”). On 17 December 2013, the Charterparty was novated by the original parties to Kairos Shipping II LLC, a party in the same beneficial ownership as BDOO (the “Owners”) and Songa Product and Chemical Tankers III AS (the “Charterers”). The Vessel was delivered to Charterers on 23 December 2016. Clause 28 of the Charterparty set out the circumstances in which the Charterparty might be terminated and clause 28(d) specifically addressed insolvency involving either party. Clause 29 set out the process for repossession of the Vessel in the event of termination in accordance with clause 28. Clause 29 provided that: “In the event of termination of this Charter in accordance with the applicable provisions of Clause 28, the Owners shall have the right to repossess the Vessel from the Charterers at her current or next port of call, or at a port or place convenient to them without hindrance or interference by the Charterers, courts or local authorities….The Owners shall arrange for an authorised representative to board the Vessel as soon as reasonably practicable following the termination of the Charter. The Vessel shall be deemed to be repossessed by the Owners from the Charterers upon the boarding of the Vessel by the Owners’ representative…” On 16 October 2020, the Commercial Court in Split confirmed a “Restructuring Plan and Pre-Bankruptcy Agreement” for BDOO. Charterers claimed that this was an event falling within clause 28(d), entitling them to terminate the Charterparty with immediate effect. Charterers gave notice of termination on 14 May 2021, whilst the