37.—(1) The arbitrator or judge of the arbitral or judicial proceedings concerned may, if considered fair and just to do so in respect of the salvage operations—
(a) award interest on the payment at a rate to be fixed by the arbitrator or judge, as the case may be,
(b) award interest on any part of a payment already made in respect of such period prior to payment as is considered appropriate in the circumstances.
(2) In this section “interest” includes compound interest.
