London Arbitration 17/17

London Arbitration 17/17

“The demurrage rate net of commission was used by an arbitral tribunal to calculate damages for detention, even though the Charterparty did not contain any reference to commission in the event of detention. Awarding damages on the basis of the gross demurrage rate was not deemed appropriate as Owners would have only received the net amount had they been paid demurrage for the delay.”

Angeliki Georgouli
E. G. Arghyrakis & Co.
07th June 2017