Grafton Shipping Panama S.A. v. Mobil Tankers Co. (Liberia) Ltd. (The Olympic Armour and Olympic Breeze - S.M.A. No. 1840 (1983)

Hellenic Club additional war risk premiums - Whether shipowners entitled to reimbursement from charterers

This was a consolidated arbitration arising from two separate time charters. The Olympic Armour charter was dated 30 April 1966, while the Olympic Breeze charter was dated 8 February 1977. The issue was whether the shipowners were entitled to be reimbursed additional net premiums of $142,010 paid to Hellenic Mutual War Risks Association (Bermuda) Ltd. for cover against “Detention or Diversions Expenses” in respect of voyages made into the Arabian Gulf during 1980.