In June, IY LEGAL obtained a LMAA Award for a ship owing client against a charterer which owed substantial sums of unpaid hire. IY LEGAL successfully applied for a prompt hire Award relying on the principles established in The Kostas Melas English law decision, which provides that arbitrators are entitled to make what were formerly known as interim awards, and now as partial awards, for charter hire indisputably due where no contractual right of deduction, or equitable set-off can be asserted.
That enables an owner to seek a quick award for the hire, despite there being counterclaims for, say, off-hire etc, where the charterparty does not permit deductions from hire.