London Arbitration 13/22

Time Charterers (NYPE) redelivered with excess ROB (about +155% IFO and +30% MGO). The Tribunal held that Owners were to reimburse ROB in excess of a 5% tolerance (for ‘about’) at neither the C/P redelivery price, nor the purchase price paid by Charterers but at the market one (in the event, higher than both).