London Arbitration 16/99

Time charter trip - Charterers repudiating charter on basis of alleged misrepresentations and vessel’s unreadiness to carry out chartered service - Whether shipowners or charterers in repudiatory breach - Damages

The vessel was chartered on the NYPE form as amended for a trip via the Baltic to the Far East or, in charterers’ option, via the US Gulf with bulk urea. She was delivered on 27 January 1996. On 5 February 1996 the charterers purported to terminate the fixture on account of the ship’s condition. On 8 February the shipowners treated the charterers themselves as having repudiated the charter.