Repudiation – Premature re-delivery by charterers – owners held entitled to refuse such
The vessel was chartered on an amended NYPE form for 59 – 61 months. There was an express warranty that the vessel would not be re-delivered before the minimum of 59 months.
Charterers gave notice that the vessel would be re-delivered 94 days prematurely.
Owners commenced arbitration before re-delivery took place requesting a partial final award that they were entitled to refuse early re-delivery and to hold the charterers liable for hire for the remainder of the minimum period.
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