Introduction
Time is money in business and even more so in the maritime
industry, where the question of which party bears the risk of delay
is a crucial component of the contract of carriage. In the tanker
trade in particular – which is tied to the volatility of the
petroleum market – charterparty terms that provide
compensation in the event of delays (eg, laytime and demurrage) are
key negotiation points and are regularly the subject of litigation
or arbitration. However, claims for delay are not limited to the
terms of a charterparty. Another class of claims can be founded on
tort, negligence or contract and brought by or against parties not
named in a charterparty. Extra-charterparty delay claims are
important in a jurisdiction such as Nigeria, where factors that
result in delays (eg, port congestion, suboptimal infrastructure
and malpractice) are frequent and may not be adequately handled by
claims founded on a charterparty.
