London Arbitration 16/05

ASBATANKVOY — SHIP-TO-SHIP — DEMURRAGE — ARBITRATION — LOADPORT — STS TRANSFER – WHETHER NOR WAS TENDERED — VALIDITY OF NOR — Charterer Award

This case began with Charterer allegations that the Vessel did not tender NOR for this STS transfer—or if it did, it was invalid and premature. The Owner, however, counterclaimed that when the Charterer remitted partial payment of the demurrage claim, they thereby admitted validity to the Vessel’s NOR and sacrificed their right to challenge it.