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NEW CASE NOTE ALERT!  Court's decision in Hapag-Lloyd AG v (1) Skyros Maritime Corporation

I am excited to share a fresh case note on DMC’s CaseNotes website. Today’s addition delves into the English Admiralty Court's decision in Hapag-Lloyd AG v (1) Skyros Maritime Corporation (2) Agios Minas Shipping Company (The “Skyros” and “Agios Minas”).

In this intriguing case, the High Court, when determining an appeal under s.69 of the Arbitration Act 1996, overturned two arbitration awards. These awards had granted the Owners of the vessels substantial damages for late redelivery from their time charters. However, the Court concluded that only nominal damages were due since the vessels were redelivered to new buyers under MOAs (Memorandum of Agreement) shortly before their redelivery. 

As the Owners were committed to selling the vessels under the MOAs, they did not lose any opportunity to capitalize on the higher charter market rates at the time, and therefore, did not suffer any recoverable loss.

The insightful case note is contributed by Captain Amarinder Singh Brar, Master Mariner, LLM (Maritime Law), Marine Manager with MFB Solicitors, and an esteemed International Contributor to DMC’s CaseNotes.

To dive into the detailed analysis of the full case and commentary by Captain Brar, click on the link below: 

https://www.onlinedmc.co.uk/index.php/Hapag-Lloyd_AG_v_(1)_Skyros_Maritime_Corporation_(2)_Agios_Minas_Shipping_Company_(The_%E2%80%9CSkyros%E2%80%9D_and_%E2%80%9CAgios_Minas%E2%80%9D)

Alternatively, you can access the note from this page:
https://www.onlinedmc.co.uk/index.php/Shipping_%26_Transport

By, Zadock Zenas

Slovenia.