Off-Hire Deduction (NYPE)
Hire deduction under NYPE clause 17 - charterer not to pay hire during off-hire period; any over-consumption bunkered during off-hire is deductible.
Hire deduction
16,500.00USD
Total deduction (hire + fuel)
25,000.00USD
Formula, assumptions, and limits
NYPE 17 - time lost through breakdown, deficiency of men or stores, and lawfully incurred off-hire events. Time is lost from the start of the event; 'loss of time' is a factual question. Fuel consumed during off-hire is owner's cost.
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| Off-hire duration | h | observation | |
| Hire rate | USD/day | CP | |
| Fuel cost during off-hire | USD | bunker log |