Nova Petroleum Int. Establishment v. Tricon Trading Ltd. (The Antonio Gramsci) - Q.B.D. (Com.Ct.) (Evans J.) - 28 April 1988

Consequences of rescission of c.i.f. contract following late nomination of vessel - Whether buyers entitled to recover damages for breach of delivery obligation

This appeal arose out of an arbitration between Nova, as sellers, and Tricon, as buyers of 20,000 tonnes plus/minus 10% of gas oil USSR origin c.i.f. Amsterdam-Rotterdam-Antwerp, delivery 15th_28th February 1985. Tricon were in turn c.i.f. sellers to Medoil of 22,000 tonnes and Medoil to Pegasus of 20,000 tonnes plus/minus 10%. The Nova/Tricon contract, dated 1 February 1985, provided for the sellers to nominate a vessel and contained the notice provision, “sellers to give minimum two working days’ notice of vessel’s arrival basis Rotterdam”. The arbitrator found that the latest time for giving notice was 17 00 hours London time on 26 February 1985. He further found that the substantive delivery obligation could be met by the nominated vessel giving notice of readiness before midnight on 28 February/1 March 1985.