London Arbitration 3/12

Charterparty – Speed and consumption – Whether vessel underperformed on certain voyages – Whether owners entitled to set off underconsumption of MDO across entire period of charter

The vessel was chartered on the NYPE form (1946) for minimum 30 months up to maximum 36 months, exact duration in charterers’ option. At the conclusion of the charter the charterers withheld hire to reflect their claims for underperformance on voyages nos 13 and 14. The owners denied that there was any underperformance. The charterparty provided: