London Arbitration 7/19

OFF-HIRE – RIGHT TO EQUITABLE SET-OFF – WHETHER DEDUCTION WAS MADE FOR OFF-HIRE OR HIRE WAS SUSPENDEDOwner made several claims against Charterer for deductions made to balance of hire. Charterer issued counterclaims and sought to use right to equitable set-off. Further, Charterer asserted that hire was suspended rather than deducted as off-hire. Upon completion of a time charter voyage on an amended NYPE form Owner claimed for a balance of $237,719.07, and initiated arbitration proceedings. Following this claim Owner made two applications for arbitration. The first was for the immediate award of $80,925.74 amounting from a hire statement drawn by the Charterer...