London Arbitration 1/24

A voyage C/P provided for discharge at 1 / 2 safe ports China, to be nominated within a certain time. Freight varied according to ports and number and was deemed earned on shipment. Charterers timeously nominated 2 ports, the 2nd attracting additional freight. Later, they nominated a different, sole port. Owners complied, under protest and on terms that the additional freight be placed in escrow. Charterers challenged the additional freight, given their replacement nomination. The Tribunal held that the first nominations were treated as if written into the C/P from the outset. Charterers’ arguments that variation, waiver or estoppel applied were all defeated by Owners’ protest and reservation recorded in the escrow.  Nor could it be said that Owners were unjustly enriched by not performing the additional freight voyage, as freight had been earned on shipment.