Calculation of loss (if any) caused by charterers’ late redelivery

Our team has written a briefing discussing the Commercial Court’s assessment of damages in Hapag-Lloyd AG v Skyros Maritime Corporation & Anor [2024] EWHC 3139 (Comm).

Despite the late redelivery of the vessels at a time when the market rate was higher than the charter rate, the Commercial Court held, on appeal from two arbitration awards dealing with the same preliminary issue, that the owners were only entitled to recover nominal damages from the charterer, and not substantial damages. The owners had, in fact, suffered no loss. The full briefing is available here as part of our Legalseas series.