LAKATAMIA SHIPPING CO LTD AND OTHERS v NOBU SU/HSIN CHI SU (aka SU HSIN CHI; aka NOBU MORIMOTO) AND OTHERS

[2015] 1 Lloyd's Rep. 216

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr Justice Cooke

Sale of goods – Forward Freight Agreements – Transfer of FFA position for one-month period – Seller failing to buy back FFAs on agreed date – Identity of parties to contract – Measure of loss sustained by buyer – Whether buyer limited to recovering difference between contract and market value – Whether loss affected by novation agreements – Sale of Goods Act 1979, section 50(3).