London Arbitration 3/18

London Arbitration 3/18

“After tendering NOR under an amended Asbatankvoy charter and waiting some 15 days to load, Owners accepted Charterers' cancellation' as a repudiatory breach and claimed accrued demurrage as well as losses incurred on substitute business. The Tribunal dismissed Charterers' attempt to rely upon a 3 month demurrage time bar running from completion of discharge, ruling that if there was no discharge, there was no time bar. Although Owners' demurrage claim succeeded in full, their damages claim entirely failed and as a result Owners were restricted to an 80% costs recovery.”

Louise Glover
E. G. Arghyrakis & Co.
24th January 2018