London Arbitration 1/22

Charterparty – Deductions from hire – Whether charterers made deductions in good faith and on reasonable grounds

Following the performance of a time charter, the owners advanced a claim for US$57,045.89 being the balance shown on their final hire statement. The charterers had withheld US$53,550.40 gross, or US$52,211.64 net of commission, plus a related sum of US$305.51 in respect of C/V/E, in respect of what they said was time lost due to under-performance to the extent of 6.6938 days.