London Arbitration 26/17 (2017) 987 LMLN 3

Arbitration
Written By Louise Glover

London Arbitration 26/17 (2017) 987 LMLN 3

“After a vessel had served NOR triggering laytime and then demurrage, Owners accepted Charterers' admitted lack of cargo as a repudiatory breach; they claimed the accrued demurrage of some 15 days plus the difference between the gross profit they wo…

“After a vessel had served NOR triggering laytime and then demurrage, Owners accepted Charterers' admitted lack of cargo as a repudiatory breach; they claimed the accrued demurrage of some 15 days plus the difference between the gross profit they would have made on the nominal fixture and their actual gross profit from a substitute voyage. Included in the calculation of nominal profits was further demurrage for some 3 days needed for loading. The Tribunal disallowed this, finding that Owners were confusing the nominal and the actual.”

Louise Glover
E. G. Arghyrakis & Co.
04th October 2017

Louise Glover
Previous

Union Marine Classification Services LLC v (1) The Government of the Union of Comoros and (2) Bruce Harris [2017]
Next

London Arbitration 25/17 (2017) 986 LMLN 3