London Arbitration 5/05

Vessel's holds damaged during discharge of granite blocks - Whether owners gave timely notification of damage to charterers - Whether charterers liable for cost of repairs - Whether only temporary repairs should have been carried out - Whether vessel off-hire - Whether charterers liable for bank charges

The vessel was chartered under the NYPE form with rider clauses for one time charter trip with a duration of about 30 days from delivery Chennai (East Coast India) until redelivery upon dropping the outbound pilot at one safe port Hong Kong/Japan range (including Taiwan, China and South Korea). The intended cargo was "granites, steels and harmless generals".