London Arbitration 17/10

TIME CHARTER — HOLDS REJECTED — “NET LOSS OF TIME” CLAUSE OR “PERIOD OFF-HIRE” CLAUSE — EXPEDITE RE-INSPECTION — Charterer Award

Upon having its holds rejected the Vessel cleaned them within three hours and presented for re-inspection that evening. The surveyor had already departed and only returned mid-morning of the next day with approval following in the late afternoon. Charterer argued that the applicable clause was a “period off-hire” clause and that all time up until re-inspection and approval to be deemed off-hire. The Panel agreed for the most part except felt that after re-boarding there was an excessive delay in approval and as such, the off-hire period ended shortly after the surveyor re-boarded which is when the Panel felt the surveyor should have approved the Vessel.