London Arbitration 9/07

SHELLTIME 3 -- TIME CHARTER -- SPEED WARRANTY -- CONSUMPTION WARRANTY -- PERFORMANCE -- TIME-BAR -- Partial Charterer Award This arbitration award resolves three separate disputes which center upon the speed and consumption warranties provided within the time-charter contract. Without receiving substantiating performance reviews, the Charterer withheld varying freight amounts from voyages basis estimated values. The Owner, however, argued that they should be reimbursed for disputed claims raised by them before time-bar, for voyage over-performance, and because of unrepresentative assessment of vessel performance during short voyages.