Orion Shipping and Trading Ltd v Great Asia Maritime Ltd (The MV Lila Lisbon) [2024] EWHC 2075 (Comm) - King's Bench Division (Mrs Justice Dias) - 9 August 2024

Ship sale - Sellers' default - Sellers failing to give timely notice of readiness - Buyer terminating agreement - Measure of damages - Loss of bargain - Whether sellers guilty of repudiation - Norwegian Saleform 2012 - Arbitration Act 1996, section 69

By a memorandum of agreement (MOA) dated 4 June 2021 on an amended Norwegian Saleform 2012 the sellers agreed to sell to the buyers the Capesize bulk carrier Lila Lisbon. Delivery was to be at a safe and accessible berth or anchorage at/in mainland China at the seller's option. Notice of readiness was to be given when the vessel was at the place of delivery and physically ready for delivery, and was not to be tendered before 20 July 2021.