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

Daily hire rateUSD/dayOff-hire durationhBunker used during off-hiretBunker priceUSD/t

Hire off-hire deduction: 9,000USD

Bunker deduction: 2,480USD

Total off-hire credit: 11,480USD

Changing the inputs requires JavaScript. The calculator above shows its default inputs and 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

In short

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

Learn the theory Charter Parties: Voyage, Time, and Bareboat