PST Energy 7 Shipping LLC and Another v OW Bunker Malta Ltd and Another (The "Res Cogitans") [2016] UKSC 23

The Res Cogitans: the facts. On 4 November 2014 bunkers were supplied to the vessel Res Cogitans, which was owned and managed by the owners. The bunkers had been ordered from OW Malta as the immediate bunker supplier based on the OW Group’s standard terms, under which the owners were given a 60-day credit period, prior to which they were permitted to use the bunkers only for the propulsion of the vessel.

The contract also provided that title to the bunkers would remain vested in OW Malta until full payment had been received.