Vitol SA v. Beta Renewable Group SA – QBD (Comm Ct), 7 July 2017

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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.

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