Saturday, June 22, 2024

Speed and Consumption Claims: A practical perspective and statistics, Prokopios Krikris

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This guidebook on Speed and Consumption Claims consists of three parts:

Part I briefly introduces speed and consumption disputes and provides twenty common debate issues between the parties before or when the case escalates.

Part II illustrates the bulk of the published London Maritime Arbitration awards from 1980 to 2020. The decisions are categorized basis the issues involved. A one-page ‘map’ was added to reflect the decisions in the relevant categories for easy reference.

The already published parts I & II have now been slightly amended. For example, part II now includes some of the Owners’ main arguments to reject the implication of positive sea currents; the long-standing debate.

Part III outlines intense debate issues, either in the parties’ charter negotiations or settlement discussions. It relies on the analysis of 400 charter parties, 800 circulated vessel’s ‘position list’ in the market, chartering brokers’ input, and the authors’ practical experience in proposing or amending such clauses during charter negotiations.

Thanks to Dr. Arun Kasi (Barrister & Arbitrator) for reading a previous draft of this guidebook, SCMA for including it in the November Knowledge Sharing, and LMAA for circulating among the members.

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