London Arbitration 29/22

Charterparty – Speed and consumption methodology – Hull fouling – Redelivery – BIMCO Piracy Clause expenses – Tug assistance

The subject vessel was chartered on an amended New York Produce Exchange (NYPE) 1946 form for a minimum of four to about seven months. After redelivery, the owners produced their Final Hire Statement, which showed a balance due of US$226,688.69. The charterers denied any sums were owed to the owners and the following disputes came before a panel of three arbitrators.