London Arbitration 4/01

Time charter on Shelltime 4 form - Failure to redeliver vessel on time - 80 day overrun - Appropriate measure of damages - Whether charterers entitled to take advantage of “final voyage” clause in charter

The vessel, an Aframax tanker, was chartered on the Shelltime 4 form for a short time charterparty of “minimum 15 days/maximum 30 days in Charterers’ option” at a daily rate of hire of US$10,000. She was delivered to the charterers on 14 November 1996 and should have been redelivered on 14 December 1996.