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Charterparty - Deduction of hire on grounds of set-off relating to earlier charterparty

The present dispute arose out of a time charter dated 2 December 1980 on the NYPE form. In February 1981 the charterers made a deduction from hire in respect of events which occurred during an earlier charterparty made between the same parties on 29 March 1979 but which involved a different vessel. The disputes under the earlier charterparty related to events in April/August 1980 and had been referred to a separate arbitration which commmenced some months before the inception of the later charterparty.