Cancelling Clause 1970 (CANCELCON 1970)
Should the vessel not be ready to load (whether in berth or not) latest at 12 midnight on the …………… Charterers have the option of cancelling this contract.
If it appears that the vessel will be delayed beyond such cancelling date, the Owners may as soon as they are in a position to state with reasonable certainty the day within which the vessel will be ready as above, give notice thereof to the Charterers asking whether they will exercise their option of cancelling. Such option must be declared within 36 running hours (Sundays and holidays excepted) after receipt of the Owners’ notice. If the Charterers do not then exercise their option of cancelling, unless otherwise agreed the third day after the date stated in the Owners’ notice shall be regarded as a new cancelling date under this clause.