London Arbitration 4/23
TIME CHARTER – BIMCO – ADDENDUM VALIDITY – BALANCE OF HIRE – CARGO CLAIMS – COUNTER-
SECURITY
A vessel was chartered for a time charter trip from India to Cotonou and Tema. The cargo was bagged
rice, and the charter included the BIMCO Standard Dispute Resolution Clause. A sole arbitrator presided
over the arbitration, which addressed the validity of an addendum agreement after the arbitration
proceedings had started, balance of hire, and counter-security for cargo claims.