Vitol SA v. Beta Renewable Group SA – QBD (Comm Ct), 7 July 2017
Posted By Brendan Hoffman On In Archive,English Maritime Cases | Comments Disabled
SALES CONTRACT - RENUNCIATORY BREACH - FAILURE TO NOMINATE VESSEL - OBLIGATION TO DELIVER
When FOB seller indicated an inability to provide cargo, buyer did not nominate a vessel and later, formally accepted seller’s breach. Seller claimed the non-nomination was an oversight which alleviated it from having to provide the cargo. Damages claimed by Buyer were basis losses calculated by reference to hedging or alternatively, market value.