Hapag-Lloyd AG v Skyros Maritime Corporation and Another [2024] EWHC 3139 (Comm)

Damages for loss of charterparty market due to late delivery

This decision is an appeal under section 69 Arbitration Act 1996 regarding the correct approach to damages for late redelivery of a vessel. The High Court held that an owner cannot recover damages for loss of market hire due to late redelivery, if that owner had voluntarily shut itself out of the charterparty market by agreeing with prospective buyers of the vessel not to charter it out, following redelivery under a charterparty.