[1993] 1 WLR 33, [1992] 3 All ER 851

Christopher Butcher – Arbitration – Costs – Award – Owners referring to arbitration claim for hire of vessel – Owners rejecting charterers’ sealed offer – Arbitrators awarding owners larger sum by way of principal and interest than sealed offer – Charterers awarded part of costs from date after sealed offer – Whether proper exercise of discretion as to costs