PHIBRO ENERGY A.G. v. NISSHO IWAI CORPORATION AND BOMAR OIL INC. (THE “HONAM JADE”)

[1991] 1 Lloyd's Rep. 38

COURT OF APPEAL

Before Lord Justice Neill, Lord Justice Ralph Gibson and Lord Justice Nicholls

Sale of goods (f.o.b.) - Repudiation - Contracts for sale of cargo of oil - Buyers’ right to nominate vessel subject to acceptance by terminal operator - Whether sellers had to obtain acceptance from terminal operator before accepting buyers’ nomination - Whether sellers in breach of obligation - Whether buyers’ repudiation justified.