Measuring loss in charterparty, carriage of goods and sale of goods disputes: a Court of Appeal decision
Commercial analysis: In Hapag-Lloyd AG v Skyros Maritime Corporation and Agios Minas Shipping Company, the Court of Appeal has clarified the law on damages in relation to a claimant’s ability to recover market loss in circumstances where the claimant’s contractual arrangements with third parties mean that it would not have been able to take advantage of the market. The judgment deals with damages for late redelivery of vessels under a time charter but will be relevant to other claims for market loss, for example for early redelivery and in carriage of goods and sale of goods disputes. Anna Fomina and Alex Andreou of HFW consider the matter in their article below. Please note that the Hapag-Lloyd AG, the charterers in this case, have applied for permission to appeal to the UK Supreme Court and the outcome of their application is awaited.