Charter - Off-Hire Grace Period
Off-hire grace period before cost deductible - typically 6 hours for machinery issues under NYPE Cl. 15.
Deductible hours
12.0h
Formula, assumptions, and limits
NYPE Cl. 15 typically no grace - every hour of off-hire deducted. Some CPs add 'no claim' 6 h clause. Owners prefer no-grace; charterers negotiate 6-24 h as NYPE amendment.
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| Hours of off-hire | h | SOF |