Olam Global Agri Pte Ltd v Holbud Ltd [2025] EWHC 3187 (Comm) - King's Bench Division, Commercial Court (Mr Justice Trower) - 5 December 2025

Contract (FOB) - Arbitration - Force majeure by closure of Ukrainian ports - Whether buyer entitled to substantial damages if nominated vessel redeployed - Whether buyer entitled to nominate alternative vessel -Appeal on point of law - Arbitration Act 1996, sections 57, 69 and 70(2)

By a FOB sale contract incorporating the general terms of GAFTA Contract No 49 dated 19 November 2021, Olam agreed to supply a cargo of yellow corn to Holbud for delivery between 1 and 15 March 2022. The origin of the corn was to be Ukraine or Romania at Olam's option.