OFF HIRE CLAUSE IN CHARTER PARTY

Abstract

his thesis gives a detailed definition of the off-hire clause1. This is done in the thesis by comparing the meaning of off-hire in different charter parties such as NYPE2, BIMCO3, Baltime4, Supplytime5 and Shelltime6. As a result, the objectives of the thesis are defined as a comparison of off-hire law in Norwegian and English law that goes beyond the explora- tion of the term ‘any other cause whatsoever’ in the contract and the effect of including or not including it in the charter parties. Additionally, through the thesis, an explanation of the terms ‘net loss time’ and ‘period lost time’ is presented by comparing the case law refer- ences they are applied to that eventually focuses on the damages that have the potential of putting a vessel off-hire. The thesis further establishes the difference in law applications that determines the realization to the workable solution that parties in a charter agreement are subjected to. This comes from comprehending varied clauses that are practically em- ployed to aid in the realization of the desired solution.