Interchem 2000 Logistics BV v. Suffolk Tankers Co., Ltd. (The “Rachel B”) – SMA No. 3889, 11 Jul 2005

ASBATANKVOY — VESSEL — ARBITRATION — CHARTER PARTY — LOADPORT — CANCELLATION DUE LATE ARRIVAL – MARKET LOSS — Owner Award

After engine problems delayed the original Vessel from arriving at loadport, the Charterers cancelled the Charter Party with the Owners and chartered another vessel to take its place. At arbitration, the Charterers held the Owners in full responsibility for failing to provide a timely vessel and demanded compensation for resulting market loss.