LONDON ARBITRATION 4/25

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NYPE – TIME CHARTER – OFF HIRE – VESSEL TIME CHARTER – OFF HIRE – VESSEL PERFORMANCE – GRABS – BUNKERS ON REDELIVERY – PROCEDURAL DEFAULT – EFFECT OF CHARTERERS’ DISSOLUTION This arbitration concerned disputes arising under a single-trip time charterparty on an amended NYPE 1981 form. Owners sought recovery of US$157,967.39 for hire withheld by charterers, together with interest and costs. Charterers had deducted 3.42 days' hire based on alleged speed and consumption underperformance of the vessel and substandard grab operations. Owners also claimed damages for a shortfall in bunkers upon redelivery.
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