Speed and Consumption Claims (Part I): A practical perspective, Prokopios Krikris Sep 14, 2021 4 min read Part-I-_-Speed-and-Consumption-claims_A-practical-perspective- .pdf Download PDF • 696KB “..it was trite law that where a charter provided a performance warranty the first step was for the tribunal to establish how the vessel performed in good weather conditions as defined in the charter. If a vessel underperformed by one knot in good weather, it would probably continue to underperform by the same margin in bad weather and charterers should be compensated for that bad weather underperformance as well as the good weather underperformance..” ( London Arbitration 24/19) This post has been slightly amended in the subsequent guidebook: “Speed and Consumption Claims: A practical perspective and statistics”- Please refer there. Speed and Consumption claims continue to be a much-extended area of dispute between owners and charterers, with most cases being resolved amicably or by arbitration as per the charter party terms. Based on extensive experience in handling speed and consumption claims for Owners or Charterers, some of the issues that arise are: Whether the Charterers are allowed to make a deduction from hire either as an express right or as an equitable right: At the end of the charter; During the performance of the charter: Having produced only an interim report; Having produced a non-compliant report with the CP terms. Waiting the final report from the weather routing company; Having not particularized their claim i.e. based on mere assertions. Whether the meaning of the language is open to question. Should a literal or a purposive approach to contractual interpretation be adopted and the threshold required implying terms into the contract. The line between the distinct principles of interpretation and construction discussed. Whether to force the provisions of the charter party into the straitjacket of the concepts of reasonableness and fairness. The touchstone