Chartering broker - A lost clause

A chartering broker acted for the charterer of a ship. They agreed with the owner, via a Skype call, to pay a higher freight rate in exchange for the owner agreeing to split the Panama Canal transit costs 50/50 with the charterer.

Unfortunately, this agreement did not make it properly into the final fixture, only the higher freight rate was recorded. The specific cost sharing clause was overlooked by the broker, the charterer, and unsurprisingly, the owner.

The charterer attempted to charge the owner the verbally agreed share of the transit costs, which the owner rejected, stating that this had not been agreed in the fixture. The charterer then filed a claim of €400,000 against the broker.

Eventually, the broker settled the claim with the charterer for €280,000 – managing to reduce the claim by stating that the owner was actually responsible and they must bear some of the costs. ITIC reimbursed the broker.