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Key banking and finance decisions: enforcement, security, assignment, insolvency, sanctions, jurisdiction and trade finance (December 2025–January 2026)

Published on: 29 January 2026

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Banking & Finance—December 2025 and January 2026 case round-up

Skyros Maritime Corp and another company v Hapag-Lloyd AG ‘Skyros’ & ‘Agios Minas’ [2025] EWCA Civ 1529

Shipping finance—charterparty damages for late redelivery of vessels

The Court of Appeal allowed the owners’ appeal from the Commercial Court concerning damages arising from the delayed redelivery of time‑chartered container ships. The vessels, ‘SKYROS’ and ‘AGIOS MINAS’, were returned late in breach of the charterparties by Hapag‑Lloyd, after the owners had already arranged to sell them.

The central question was whether the owners could obtain substantial damages—calculated as the gap between market and charter rates—for the overrun period even though they had no plan to re‑fix the ships. The Court of Appeal confirmed they could. Applying the settled maritime principle, damages for late redelivery are assessed by reference to the market rate, irrespective of whether the owner would, in fact, have gone back into the market to secure a new fixture.

When quantifying loss, the owners’ post‑redelivery plans were to be treated as collateral and disregarded—res inter alios acta—so that the conventional market‑based measure governed the award of substantial damages...

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