In Louis Dreyfus Commodities Suisse SA v MT Maritime Management BV ("MTM Hong Kong")  UKSC 43, the High Court awarded the shipowner damages for positional loss. As the shipping market is aware, the ability of a vessel to earn freight will depend on a number of factors, including the vessel being positioned in a favourable location to lift cargo. This would result in a shipowner maximising earnings. In the above referenced case, Mr Justice Males held that the loss a shipowner suffered as a result of having its vessel in an unfavourable positon as a result of the Charterers' repudiatory breach is recoverable. Has Mr Justice Males opened the floodgates? The authors do not think so.
This article appeared first in the October 2015 Shipping and Trade Law Journal.