London Arbitration 3/24

FORCE MAJEURE - “LAWSUIT” DEFINITION – TIME-BARRED CLAIMS – TIME-CLAUSE – AGREEMENTS ON CHARTER – ARBITRATION In March 2022, a vessel sustained propeller damage on the way to its first load port, leading to the charter party cancellation through force majeure.  Charterers did not initiate arbitration proceedings until over a year later in April 2023. The dispute focused on whether arbitration proceedings were time-barred. Charterers contended that the one-year time bar did not apply due to circumstances surrounding the voyage's cancellation.  
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