London Arbitration 14/16

NYPE TIME CHARTER - LATE PAYMENT AND NON-PAYMENT OF HIRE - WHETHER LATE PAYMENT A REPUDIATORY BREACH - CALCULATION OF DAMAGES - Owner Award The charterer acknowledged its late payments of hire were a breach of the charterparty yet denied that the late payments were a repudiatory breach. In contrast, and despite charterer offering payment proposals, the owner contended charterer’s conduct constituted non-payment rather than late payment and was thus a repudiation of the charter party.
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