Shanghai Shipyard Co Ltd v Reignwood International Investment (Group) Co Ltd [2021] EWCA Civ 1147

Shipbuilding: “see to it” or demand guarantee?

By a shipbuilding contract dated 21 September 2011 between the appellant builder and the respondent Reignwood as buyer, the builder agreed to build an offshore drillship for a total price of US$200 million. Reignwood had no experience of the offshore drilling industry and agreed to participate in the purchase of four drillships as a financial investor.