London Arbitration 7/24

Time charterparty - NYPE form - Disputes under final hire accounts - Deductions for off-hire - Meaning of "about" for quantity of bunkers on redelivery - Whether owners entitled to compensation for removal of chemicals still on board - Whether owners obliged to compensate charterers at charter or sub-charter bunker prices after mistakenly consuming LSMGO in place of VLSFO - LMAA Small Claims Procedure - Apportionment of costs

Disputes arose under a charterparty made in August 2020 on an amended NYPE form for a period charter of about 11/15 months. Clause 127 of the charterparty provided that it was to be governed by and construed in accordance with English law and that any dispute arising out of or in connection with it was to be referred to arbitration in London. In cases where neither the claim nor any counterclaim exceeded the sum of US$150,000, the arbitration was to be conducted in accordance with the LMAA Small Claims Procedure (SCP).