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Claimants penalised in costs for bringing hopeless claim

The vessel completed discharging in December 1974. In May 1980 the owners purported to appoint an arbitrator pursuant to a claim for balance of freight. The charterparty provided that the balance of 10% of the freight was to be paid “after completion of discharge and settlement of demurrage/despatch on production of a paid voucher from charterers’ broker to whom commission is due . . .”