London Arbitration 3/04

Time charter - History of late payments of hire by charterers - Whether owners entitled to withdraw vessel for non-payment of hire or for repudiatory breach

The vessel was chartered on an amended NYPE form for nine months plus three months in charterers' option, plus or minus 5 days. Delivery took place on 7 October 1999 so that the minimum period would have expired on 22 June 2000. On 21 December 1999 the owners withdrew the ship from the charter service.