Charter - Off-Hire Deduction

Off-hire deduction from a time-charter hire payment when the vessel is not fully available - per NYPE / Baltime clauses.

CharterOff-hireHire

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This calculator requires JavaScript to compute its result. The formula, symbols, and regulatory sources are shown in the Formula section below.

Formula, assumptions, and limits

\text{OH credit} = \frac{H \cdot t_{off}}{24} + m_B P_B

Symbol	Meaning	Unit
$H$	Daily hire	USD/day
$t_{off}$	Off-hire duration	h

Source: NYPE 2015 Cl. 15

Off-hire deduction from a time-charter hire payment when the vessel is not fully available - per NYPE / Baltime clauses.