London Arbitration 4/11

NYPE -- TIME-CHARTER -- SPEED AND CONSUMPTION WARRANTY -- BEAUFORT SCALE -- BAD WEATHER -- EQUITABLE SET-OFF -- OFF-HIRE -- Charterer Award At the commencement of the time charter the Vessel had problems with the main engine sea water cooling system which Charterer suspected subsequently caused the Vessel to underperform. Owner denied that the Vessel breached the performance warranty and claims for the withheld hire; whereas, Charterer maintains that the Vessel was off-hire or, alternatively, seeks damages for Owner’s breach of the speed warranty as an equitable set-off.