Cedar Trading Co. Ltd. v. Transworld Oil Ltd. (The Gudermes) - Q.B.D. (Com.Ct.) (Leggatt J.) - 10 June 1985

Terms of oil sale contract changed by alterations in letter of credit

The plaintiffs offered to buy a quantity of naphtha from B, to be sold to the defendants. The description of the quality was “as per previous cargo on Little Nicos ”. The price was to be “high Platts FOB Italy bill of lading date for loading FOB Zueitina.” The last date of the lifting period was originally 30 November 1979, but was later changed to 5 December 1979. Following an exchange of telex messages there was substituted as the description of quality a number of “in-tank typicals”. One of these was “colour Saybolt plus 30” which was water white. The reference to “in-tank” was to the shore tanks at Zueitina.