London Arbitration 7/11

Sale of ship - Norwegian Saleform - Purchase price to be paid "in cash" - Buyers not making payment of price by delivery date - Whether implied term that "advance deposit" method of payment would be used - Whether sellers failed to nominate bank account - Whether sellers presented compliant documents - Whether error in name of buyer in delivery documentation constituted compliance by sellers - Whether deposit forfeited to sellers or recoverable by buyers

(2011) 828 LMLN 1

Arbitration, Sale of ship, Contractual Disputes

Riva Bella SA v Tamsen Yachts GmbH (The "Namaste") - QBD (Comm Ct)(Eder J) - 6 June 2011

Sale of ship - Newbuild yacht delivered to buyer with certain works still outstanding - Buyer signing Protocol of Delivery and Acceptance - Buyer alleging breach of speed warranty and alleged deficiencies at date of delivery - Whether claim precluded by buyer's acceptance of vessel - Whether seller otherwise in breach of contract

(2011) 825 LMLN 1

Sale of ship, Contractual Disputes, Sale of Goods

London Arbitration 3/11

Sale of ship - Damages - Buyers obtaining injunction restraining sellers from dealing with vessel - Injunction preventing delivery of ship - Buyers held to be in repudiatory breach of MacKay v Dick implied term of MOA - Buyers forfeiting deposit - Sellers claiming damages for loss of charterparty earnings - Causation - Whether claim to be assessed on basis that buyers would have taken delivery of vessel - Whether credit to be given for deposit - Whether sellers to give credit for difference between contract price and market value of ship

(2011) 825 LMLN 2

Arbitration, Sale of ship, Charterparty, Injunctions and Remedies, Damages

Azimut-Benetti SpA v Healey – QBD (Com Ct) (Blair J) – 3 September 2010

Contract – Penalty clause - Contract for construction and sale of luxury yacht - Whether termination clause a penalty or liquidated damages

(2010) 805 LMLN 1

Sale of ship, Contractual Disputes

Rainy Sky SA and Ors v Kookmin Bank – Court of Appeal (Thorpe and Patten LJJ and Sir Simon Tuckey) – 27 May 2010

The first to sixth claimants were Buyers under six shipbuilding contracts with Jinse Shipbuilding Co Ltd (“the Builder”), a Korean company.

FR Lurssen Werft GmbH & Co KG v Halle – Court of Appeal (Thorpe and Aikens LJJ and Sir Paul Kennedy) – 23 April 2010

On 15 April 2005 the claimant, a German shipbuilding company, entered into a contract (“the Construction Contract”) with the defendant, an American citizen resident in the State of Florida, for the construction by the claimant of a 20m motor yacht for an adjustable price of €48m.

Parbulk AS v Kristen Marine SA and Anr – QBD (Com Ct)(Burton J) – 29 April 2010

On 21 December 2005 four Special Purpose Vehicles (“SPVs”) concluded four shipbuilding contracts with a Chinese shipyard for the acquisition of four bulk carriers (“the vessels”).

Swissco Offshore Pte Ltd v Seabed Offshore Pte Ltd (The “Swissco Surf”) – Supreme Court of Singapore (High Court) (Tay Yong Kwang J) – 6 February 2009

The plaintiff sellers agreed to sell the tug Swissco Surf to the defendant buyers under a Memorandum of Agreement (“MOA”) on the Norwegian Saleform.

Bulkship Union SA v Qannas Shipping Co Ltd and Anr (The “Cape Courage”) – Supreme Court of Appeal of South Africa (Farlam and Maya JJA, Hurt, Leach and Griesel AJJA) – 1 June 2009

Disputes arose out of the contract of the sale of the vessel Pearl of Fujairah under a Memorandum of Agreement governed by English law.

Inta Navigation Ltd and Anr v Ranch Investments Ltd and Anr – QBD (Com Ct) (Teare J) – 5 June 2009

By a MOA on the Norwegian Saleform dated 26 November 2004 Inta Navigation Ltd and Genel Denizcilik Nakliy Ati AS (collectively “Geden”) agreed to sell to Ranch Investments Ltd and Wah Kwong Shipping Holdings Ltd (collectively “Wah Kwong”) Hull No S271, a 159,000 dwt crude oil tanker under construction by Hyundai pursuant to a shipbuilding contract dated 29 December 2003.

Sea Emerald SA v Prominvest-Joint Stockpoint Commercial Industrial and Investment Bank – QBD (Com Ct) (Andrew Smith J) – 11 August 2008

On 9 December 1993 Sea Emerald, as buyer, concluded a shipbuilding contract with a Ukrainian shipyard for the construction and purchase of a refrigerated cargo vessel.

PT Berlian Laju Tanker TBK and Anr v Nuse Shipping Ltd (The “Aktor”) – QBD (Com Ct) (Christopher Clarke J) – 16 June 2008

Nuse Shipping agreed to sell their vessel Aktor to PT Berlian Laju Tanker for US$8,400,000.

UAB Garant v The ship “Aleksandr Ksenefontov” – High Court of New Zealand (Williams J) – 2 April 2008

The plaintiff shipyard arrested the vessel Aleksandr Ksenefontov on a number of occasions in 2006 and 2007.

Qannas Shipping Co Ltd and Anr v Bulkship Union SA and Anr (The “Cape Courage”) – High Court of South Africa (Durban and Coast Local Division) (Balton J) – 4 March 2008

Disputes arose out of the contract of the sale of the vessel Pearl of Fugairah under a Memorandum of Agreement governed by English law.