All-weather performance warranties
Warranties tested in every condition rather than only in good weather: where they are used, how they are calculated, and what the owner is actually taking on.
An all-weather performance warranty is one tested across the whole voyage rather than only in qualifying good weather. It arises either by design, in some industrial contracts and older tanker forms, or by accident, where a charter contains a speed and consumption description and no good weather qualification at all, in which case none is implied.
It is a materially harsher bargain for the owner, because it transfers the risk of weather encountered rather than only the risk of the ship’s own capability. The full article will cover the forms and trades in which it is used, the calculation method where there is no good weather sample to extrapolate from, the authorities on the older SHELLTIME regime, and the drafting points an owner should insist on before accepting one.