Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

PRESIDENT OF INDIA v. LIPS MARITIME CORPORATION (THE “LIPS”)

[1987] 2 Lloyd's Rep. 311

HOUSE OF LORDS

Before Lord Keith of Kinkel Lord Fraser of Tullybelton Lord Brandon of Oakbrook Lord Griffiths and Lord Mackay of Clashfern

Arbitration - Award - Demurrage - Late payment of demurrage - Umpire held charterers liable in damages for difference between exchange rate at bill of lading date and exchange rate at date of award - Whether owners entitled to damages for late payment of demurrage.

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