London Arbitration 7/19

Charterparty– Claim for balance of hire – Charterers counter-claiming damages for breach ofcontract and asserting off-hire claims – Owners applying for immediate paymentof amount indisputably due – Whether charterers precluded from relying on equitableset-off and off-hire claims

Thesubject vessel was chartered in 2010 on the NYPE 1981 form as amended for aperiod of between three months and five months in charterers’ option. The recapincorporated and amended a proforma charterparty for another vessel (theproforma charter).