London Arbitration 12/13

TIME CHARTER -- REPUDIATION OF CONTRACT BY CHARTERER -- MEASURE OF DAMAGES WHEN NO SIMILAR MARKET EXISTS -- Owner Award After non-payment of hire for 10 consecutive months, Owner withdrew the Vessel and sought restitution from the Guarantor of Charterer’s liabilities for the unpaid hire up to the point the time charter contract was deemed repudiated, damages for the unexpired period remaining, and restitution for bunker costs.
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