Glencore Energy UK Ltd. v. Transworld Oil Ltd. – QBD (Comm. Ct.), 3 Feb 2010

FOB SALES CONTRACT -- REPUDIATORY BREACH -- TIME BAR --ASSESSMENT OF DAMAGES -- MITIGATION OF LOSS -- Buyer Award When the FOB Seller failed to deliver a cargo of oil, the Court awarded Buyer damages representing the difference between the contract price and the value of the oil on the date when it should have been delivered less Buyer’s reduced hedging loss when Buyer closed out its position early due to non-delivery of the oil. The Court also ruled Buyer’s claim was not deemed time barred as there was no time bar clause in the 2007 NNPC Terms.