London Arbitration 2/12

Charterparty – Deadfreight – Port authority reducing maximum allowable draft at berth following earthquake – Whether charterers liable to pay deadfreight – Despatch – Whether charterers entitled to despatch notwithstanding that loading operation was completed before laydays commenced

The vessel was chartered for the carriage of 46,000 mt 10% more or less in owners option, of iron ore in bulk a voyage from one safe port Caldera, Chile to one safe port North China, in the event Qingdao. The charterparty was contained in a fixture recap based upon a pro-forma charterparty. The fixture recap provided: