London Arbitration 14/16

Charterparty – Hire – Owners withdrawing vessel for non-payment of hire – Whether charterers in repudiatory breach – Damages – Rate of discount to be applied for accelerated payment and future risks – Interest.

The claimant owners chartered the subject vessel to the respondent charterers on an amended NYPE form dated 6 August 2008 for a period of between 82 and 86 months in charterers’ option at a rate of hire of US$52,500 per day, payable every 15 days in advance. The vessel was delivered on 20 April 2010.