*Spar Shipping AS v Grand China Logistics Holding (Group) Co., Ltd

Shipping – Charterparty. The claimant company, Spar, commenced arbitration proceedings against the defendant company, GCL, claiming the balance of hire due under certain charters and damages for loss of bargain in respect of the unexpired term of the charters. The Commercial Court held that, among other things, the charters had been validly signed. Although the payment of hire by GCL in accordance with the charters had not been a condition, Spar's common law right to damages for loss of bargain had been preserved, and Spar's claim succeeded.

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