ABSTRACT
Currently loss of time and the resulting loss of charter hire is covered under standard form policies such as the Loss of Charter Hire Insurance Including War and the Loss of Charter Hire Insurance Excluding War which are widely used in the market. The ABS Form provides that loss of hire is covered if it is incurred following loss, damage or occurrence covered by Institute Time Clauses-Hulls 1983. The fact that loss of hire is calculated on a time basis shall not necessarily denote that it is caused through delay or loss of time. The wording under the ABS Form is clearer in terms of the requirement of a loss of or damage to the vessel for triggering the loss of hire cover compared to the wording discussed in The Wondrous. It was accordingly not surprising that loss of hire arising during general average repairs was held not recoverable in general average.
