We are pleased to share an update on the recent Court of Appeal decision in Skyros Maritime Corporation & Agios Minas Shipping Company v Hapag-Lloyd AG [2025], which addresses the assessment of damages arising from the late redelivery of vessels under time charters.
The Court of Appeal confirmed that the normal market based measure of damages applies to the overrun period, even where the owners were unable to re-charter the vessels under the terms of existing MOAs. This clarification will be relevant to those dealing with time charters in a rising market.
