Vitol SA v Beta Renowable Group SA – QBD (Comm Ct) (Carr J) [2017] EWHC 1734 (Comm) – 7 July 2017

Saleof goods – Renunciatory breach by seller – Whether buyer accepted breach as terminating contract – Whether buyer's failure to nominate vessel sufficiently unequivocal act – Whether buyer’s failure to nominate relieved seller of obligation to deliver

Vitol SA (Vitol) was a major oil trader, and Beta Renowable Group SA (Beta) was a manufacturer of biofuel products. By four contracts entered into on 7 June 2016 Vitol agreed to buy and Beta agreed to sell 4,500 mt of a specified type of biofuel at a price of €793.50/mt fob Bilbao during the period 16 to 30 June 2016.