Commercial Maritime Law

1. A claim arising from a charterparty of an equipped vessel shall not be heard upon the lapse of two years. In a time charterparty, the two-year period shall commence from the date of expiry of the contract term, from the date of the end of the last voyage if such voyage has been extended in accordance with Article 164(2), or from the date of knowing of an accident which renders executing the contract impossible. 2. In a voyage charterparty, the two-year period shall commence from the date of the end of each voyage or from the date of knowing of an accident which renders the commencement or continuation of a voyage impossible. The voyage shall end with the arrival of the vessel to the agreed port and the discharge of the goods shipped by the charterer. 3. In case a vessel is wrecked, the two-year period shall commence from the Commercial Maritime Law date the vessel is stricken off the ship registry.