London Arbitration 12/95

Time-charter trip for 65 days without guarantee - Meaning of words “without guarantee”

The vessel was chartered on the NYPE form as amended for a time-charter trip specified as “duration about 65 days without guarantee”. The charter in fact lasted only 49.9375 days. The owners said that the charterers were thus in breach of charter, and claimed damages of $10,631.25 calculated at the difference between the charter rate and the new charter rate that was obtained, multiplied by the shortfall of days, after giving an allowance of 5% for “about”.