Marco Polo Shipping Co. Pte Ltd v. Fairmacs Shipping and Transport Services Pte Ltd – Court of Appeal, 21 Aug 2015

ESTABLISHING MARKET VALUE - TORT OF CONVERSION - DAMAGES - SUPPLY CHAIN - Buyer Award While the Vessel was en route to the discharge port, the Vessel was withdrawn from the Contract Carriers’ service when they defaulted on hire and the cargo of river sand onboard was sold to mitigate the Owners’ losses. However, the Buyer argued that this constituted a tort of conversion and filed for damages against the Contract Carriers and the Owners basis an alleged market price of the sand.