Contact details

Caroline Pennington

T: +44 20 7809 2513 Email Caroline | vCard Office: London

Awards

Winner - The i-law Maritime Law Award

Winner - The i-law Maritime Law Award

Caroline Pennington Associate

Contact details

Caroline Pennington

T: +44 20 7809 2513 Email Caroline | vCard Office: London

Caroline specialises in dispute resolution as well as advisory and transactional work related to the international sale and purchase of goods, particularly hard and soft commodities and ships. She also has significant experience acting in a variety of dry shipping disputes.  Caroline is a fluent Spanish speaker.
  • Profile
  • Services
  • Sectors

Caroline's particular focus is on dispute resolution, advising on the interpretation of contract terms and drafting bespoke contracts in the context of the international sale and purchase of the three main commodities classes: oil, metals and softs. She has broader experience within the international trade sector of drafting logistics and transportation agreements and shipbuilding contracts, as well as acting in arbitrations of disputes under contracts of carriage and upstream operational contracts. Caroline has frequently acted for Spanish-speaking clients.

Caroline regularly acts for international and global commodities and bunker trading houses, ship owners, charterers, oil and gas majors and banks. She has significant experience acting in LMAA, LCIA, GAFTA, FOSFA and UNCITRAL arbitrations.

  • Shipping litigation
  • International arbitration
  • Trade finance
  • Commodities
  • Marine and international trade

Ship owners

Acted for ship owners in relation to a claim under the LMAA Terms for damages arising under an amended Asbatankvoy charterparty incorporating BPVOY 4 and VITOL TERMS.

Disponent owners

Acted for disponent owners as claimants in 4 simultaneous damages claims under charterparties on amended Shellvoy 6form, following the LMAA Small Claims Procedure.

Owners

Acted for owners in relation to a successful application for costs of an arbitration arising out of a time charterparty on amended NYPE 1946 form.

Oil major

Acted for an oil major in an English law LMAA arbitration and related High Court Proceedings, as the defendant to the owner's claim for damages arising out of a failure to nominate and perform the minimum number of voyages stipulated in a Contract of Affreightment.

State-owned oil and gas company

Acted for a state-owned oil and gas company as the defendant to 12 simultaneous LMAA claims for demurrage under various charterparties.

Charterers

Acted for charterers in mounting challenges to the jurisdiction of the arbitral tribunals in various LMAA arbitration references.

Latin American, state-owned oil and gas company

Acted for a Latin American, state-owned oil and gas company as claimant in relation to a complex Paris-seated arbitration under the UNCITRAL Rules, arising out of a foreign law contract for the provision of a drillship and drilling services. Claims involved complex substantive claims under the contract, as well as claims for interim measures, such as injunction and security applications.

Insolvency estate of an international bunker trading company

Acted for the insolvency estate of an international bunker trading company to recover trading debts in a number of LMAA arbitrations.

Latin American, state-owned oil and gas company

Acted for a Latin American, state-owned oil and gas company as claimant in relation to a complex Paris-seated arbitration under the UNCITRAL Rules, arising out of a foreign law contract for the provision of a drillship and drilling services. Claims involved complex substantive claims under the contract, as well as claims for interim measures, such as injunction and security applications.

Ship owners

Acted for ship owners in relation to a claim under the LMAA Terms for damages arising under an amended Asbatankvoy charterparty incorporating BPVOY 4 and VITOL TERMS.

Disponent owners

Acted for disponent owners as claimants in four simultaneous damages claims under charterparties on amended Shellvoy six form, following the LMAA Small Claims Procedure.

Owners

Acted for owners in relation to a successful application for costs of an arbitration arising out of a time charterparty on amended NYPE 1946 form.

Oil major

Acted for an oil major in an English law LMAA arbitration and related High Court Proceedings to defend an the owner's claim for damages / application to the Court to appoint an arbitrator, arising out of a failure to nominate and perform the minimum number of voyages stipulated in a Contract of Affreightment.

Substantial steel trading company

Acted for a substantial steel trading company in an LCIA arbitration of a claim for repudiatory breach of contract under a sale/purchase agreement.

State-owned oil and gas company

Acted for a state-owned oil and gas company as the defendant to 12 simultaneous LMAA claims for demurrage under various charterparties.

Charterers

Acted for charterers in mounting challenges to the jurisdiction of the arbitral tribunals in various LMAA arbitration references.

Insolvency estate of an international bunker trading company

Acted for the insolvency estate of an international bunker trading company in the recovery of trading debts in a number of LMAA arbitrations.

Major trading house

Assisted a major trading house in disputes arising out of the Qingdao metals scandal involving the fraudulent use of warehouse receipts in repo financing.

PDVSA

Acted for PDVSA in the High Court case PetroSaudi Oil Services (Venezuela) Ltd v Novo Banco SA and others, and the subsequent appeal in the Court of Appeal, which concerned the application of the ‘fraud exception’ to the autonomy principle of letters of credit.

International bank

Assisted an international bank in the drafting of a set of onward sale / repurchase general terms and conditions.

More: Trade finance

Substantial steel trading company

Acted for a substantial steel trading company in an LCIA arbitration of a claim for repudiatory breach of contract under a sale/purchase agreement.

Major trading house

Assisted a major trading house in disputes arising out of the Qingdao metals scandal involving the fraudulent use of warehouse receipts in repo financing.

PDVSA

Acted for PDVSA in the High Court case PetroSaudi Oil Services (Venezuela) Ltd v Novo Banco SA and others, and the subsequent appeal in the Court of Appeal, which concerned the application of the ‘fraud exception’ to the autonomy principle of letters of credit.

Insolvency estate of an international bunker trading company

Acted for the insolvency estate of an international bunker trading company in the recovery of trading debts in a number of LMAA arbitrations.

Oil major

Acted for an oil major in an English law LMAA arbitration and related High Court Proceedings to defend an the owner's claim for damages / application to the Court to appoint an arbitrator, arising out of a failure to nominate and perform the minimum number of voyages stipulated in a Contract of Affreightment.

State-owned oil and gas company

Acted for a state-owned oil and gas company as the defendant to 12 simultaneous LMAA claims for demurrage under various charterparties.

Charterers

Acted for charterers in mounting challenges to the jurisdiction of the arbitral tribunals in various LMAA arbitration references.

Ship owners

Acted for ship owners in relation to a claim under the LMAA Terms damages arising under an amended Asbatankvoy charterparty incorporating BPVOY 4 and VITOL TERMS.

Disponent owners

Acted for disponent owners as claimants in four simultaneous damages claims under charterparties on amended Shellvoy six form, following the LMAA Small Claims Procedure.

Several companies trading hard and soft commodities

Assisted a number of international companies trading hard and soft commodities, including oil, grains, coal and sugar in the drafting of bespoke sale/purchase contracts and general bespoke commercial contracts.

Large North African agri business

Advised a large North African agri business on investment into a refinery, involving assisting in the structuring of the proposed deal and the drafting of the transactional documents including relating to complex financing and profit-sharing arrangements.

International bank

Assisted an international bank in the drafting of a set of onward sale / repurchase general terms and conditions.

More: Commodities

Latin American, state-owned oil and gas company

Acting for a Latin American, state-owned oil and gas company as claimant in relation to a complex Paris-seated arbitration under the UNCITRAL Rules, arising out of a foreign law contract for the provision of a drillship and drilling services.  Claims involved complex substantive claims under the contract, as well applications for interim measures, such as injunctions and security.

Oil major

Acted for an oil major in an English law LMAA arbitration and related High Court Proceedings to defend an owner's claim for damages / application to the Court to appoint an arbitrator, arising out of a failure to nominate and perform the minimum number of voyages stipulated in a Contract of Affreightment.

State-owned oil and gas company

Acted for a state-owned oil and gas company as the defendant to 12 simultaneous LMAA claims for demurrage under various charterparties.

Substantial steel trading company

Acted for a substantial steel trading company in an LCIA arbitration of a claim for repudiatory breach of contract under a sale/purchase agreement.

Charterers

Acted for charterers in mounting challenges to the jurisdiction of the arbitral tribunals in various LMAA arbitration references.

Insolvency estate of an international bunker trading company

Acted for the insolvency estate of an international bunker trading company in the recovery of trading debts in a number of LMAA arbitrations.

Major trading house

Assisted a major trading house in disputes arising out of the Qingdao metals scandal involving the fraudulent use of warehouse receipts in repo financing.

PDVSA 

Acted for PDVSA in the High Court case PetroSaudi Oil Services (Venezuela) Ltd v Novo Banco SA and others, and the subsequent appeal in the Court of Appeal, which concerned the application of the ‘fraud exception’ to the autonomy principle of letters of credit.

Ship owners

Acted for ship owners in relation to a claim under the LMAA Terms for damages arising under an amended Asbatankvoy charterparty incorporating BPVOY 4 and VITOL TERMS.

Disponent owners

Acted for disponent owners as claimants in 4 simultaneous damages claims under charterparties on amended Shellvoy 6 form, following the LMAA Small Claims Procedure.

Owners

Acted for owners in relation to a successful application for costs of an arbitration arising out of a time charterparty on amended NYPE 1946 form.

Several companies trading hard and soft commodities

Assisted a number of companies trading hard and soft commodities, including oil, grains, coal and sugar in the drafting of bespoke sale/purchase contracts and general bespoke commercial contracts.

Large North African agri business

Advised a large North African agri business on investment into a refinery, involving assisting in the structuring of the proposed deal and the drafting of the transactional documents including relating to complex financing and profit-sharing arrangements.

International bank

Assisted an international bank in the drafting of a set of onward sale / repurchase general terms and conditions.

Norwegian ship owner

Assisted a Norwegian ship owner in the negotiation and drafting of multiple shipbuilding contracts.

More: Marine and international trade

  • Shipowners and operators
  • Shipping
  • International trade

Latin American state-owned oil and gas company

Acted for a Latin American state-owned oil and gas company as operator and claimant in relation to a complex Paris-seated arbitration under the UNCITRAL Rules, arising out of a foreign law contract for the provision of a drillship and drilling services. Claims involved complex substantive claims under the contract, as well as claims for interim measures, such as injunction and security applications.

PDVSA

Acted for PDVSA in the High Court case PetroSaudi Oil Services (Venezuela) Ltd v Novo Banco SA and others and the subsequent Court of Appeal case, concerning the application of the ‘fraud exception’ to the autonomy principle of letters of credit, in this case which was issued pursuant to an IADC drilling contract.

Ship owners

Acted for ship owners in relation to a claim under the LMAA Terms for damages under an amended Asbatankvoy charterparty incorporating BPVOY 4 and VITOL TERMS.

Norwegian ship owner

Assisted a Norwegian ship owner in the negotiation and drafting of multiple shipbuilding contracts.

Owners

Acted for owners in relation to a successful application for costs of an arbitration arising out of a time charterparty on amended NYPE 1946 form.

Disponent owners

Acted for disponent owners as claimants in 4 simultaneous damages claims under charterparties on amended Shellvoy 6 form following the LMAA Small Claims Procedure.

More: Shipowners and operators

Ship owners

Acted for ship owners in relation to a claim under the LMAA Terms for damages arising under an amended Asbatankvoy charterparty incorporating BPVOY 4 and VITOL TERMS.

Disponent owners

Acted for disponent owners as claimants in 4 simultaneous damages claims under charterparties on amended Shellvoy 6form, following the LMAA Small Claims Procedure.

Owners

Acted for owners in relation to a successful application for costs of an arbitration arising out of a time charterparty on amended NYPE 1946 form.

Norwegian ship owner

Assisted a Norwegian ship owner in the negotiation and drafting of multiple shipbuilding contracts.

Oil major

Acted for an oil major in an English law LMAA arbitration and related High Court Proceedings, as the defendant to the owner's claim for damages arising out of a failure to nominate and perform the minimum number of voyages stipulated in a Contract of Affreightment.

State-owned oil and gas company

Acted for a state-owned oil and gas company as the defendant to 12 simultaneous LMAA claims for demurrage under various charterparties.

Charterers

Acted for charterers in mounting challenges to the jurisdiction of the arbitral tribunals in various LMAA arbitration references.

Insolvency estate of an international bunker trading company

Acted for the insolvency estate of an international bunker trading company to recover trading debts in a number of LMAA arbitrations.

Complex Paris-seated arbitration

Acting for the company as claimant in relation to a complex Paris-seated arbitration under the UNCITRAL Rules, arising out of a foreign law contract for the provision of a drillship and drilling services. Claims involved complex substantive claims under the contract, as well as claims for interim measures, such as injunction and security applications.

More: Shipping

Latin American, state-owned oil and gas company

Acted for a Latin American, state-owned oil and gas company as claimant in relation to a complex Paris-seated arbitration under the UNCITRAL Rules, arising out of a foreign law contract for the provision of a drillship and drilling services.  Claims involved complex substantive claims under the contract, as well applications for interim measures, such as injunctions and security.

Oil major

Acted for an oil major in an English law LMAA arbitration and related High Court Proceedings, as the defendant to the owner's claim for damages arising out of a failure to nominate and perform the minimum number of voyages stipulated in a Contract of Affreightment.

State-owned oil and gas company

Acted for a state-owned oil and gas company as the defendant to 12 simultaneous LMAA claims for demurrage under various charterparties.

PDVSA

Acted for PDVSA in the High Court case PetroSaudi Oil Services (Venezuela) Ltd v Novo Banco SA and others, and the subsequent appeal in the Court of Appeal, which concerned the application of the ‘fraud exception’ to the autonomy principle of letters of credit.

Charterers

Acted for charterers in mounting challenges to the jurisdiction of the arbitral tribunals in various LMAA arbitration references.

Insolvency estate of an international bunker trading company

Acted for the insolvency estate of an international bunker trading company to recover trading debts in a number of LMAA arbitrations.

Substantial steel trading company

Acted for a substantial steel trading company in an LCIA arbitration of a claim for repudiatory breach of contract under a sale/purchase agreement.

Major trading house

Assisted a major trading house in disputes arising out of the Qingdao metals scandal involving the fraudulent use of warehouse receipts in repo financing.

Ship owners

Acted for ship owners in relation to a claim under the LMAA Terms for damages arising under an amended Asbatankvoy charterparty incorporating BPVOY 4 and VITOL TERMS.

Disponent owners

Acted for disponent owners as claimants in 4 simultaneous damages claims under charterparties on amended Shellvoy 6 form, following the LMAA Small Claims Procedure.

Owners

Acted for owners in relation to a successful application for costs of an arbitration arising out of a time charterparty on amended NYPE 1946 form.

Several companies trading hard and soft commodities

Assisted a number of companies trading hard and soft commodities, including oil, grains, coal and sugar in the drafting of bespoke sale/purchase contracts and general bespoke commercial contracts.

Large North African agri business

Advised a large North African agri business on investment into a refinery, involving assisting in the structuring of the proposed deal and the drafting of the transactional documents including relating to complex financing and profit-sharing arrangements.

International bank

Assisted an international bank in the drafting of a set of onward sale / repurchase general terms and conditions.

Norwegian ship owner

Assisted a Norwegian ship owner in the negotiation and drafting of multiple shipbuilding contracts.

More: International trade

Awards

Winner - The i-law Maritime Law Award

Winner - The i-law Maritime Law Award

Latest news & insights

02 Nov 2020

From Insights

What the commodities industries need to know about the Corporate Insolvency and Governance Act

This note considers how the recent changes to UK insolvency law introduced by the Corporate Insolvency and Governance Act 2020 ("CIGA") might affect those involved in ..

More

print-footer
logo
© Stephenson Harwood LLP 2016. Any reference to Stephenson Harwood in this document means Stephenson Harwood LLP and/or its affiliated undertakings. Any reference to a partner is used to refer to a member of Stephenson Harwood LLP.