Vitol SA v JE Energy Ltd – [2022] EWHC 2494 (Comm), King’s Bench Division, Commercial Court, (Lionel Persey KC, sitting as a Deputy High Court Judge) – 7 October 2022

Sale of cargo – FOB contract – Failure of purchaser to provide vessel or suitable letter of credit – Meaning of “laycan” – Measure of damages – Sale of Goods Act 1979, section 50(3)

Vitol was one of the world’s largest energy and commodities trading companies. JE Energy Ltd (Jeda) was a Ghanaian crude oil and petroleum products trading company. On 9 and 10 December 2019 the parties negotiated a contract for the sale of 30,000 mt of fuel oil (+/- 10%) by Vitol to Jeda.