Commodities in Focus Weekly: JSC “Kazan Oil Plant” v Aves Trade DMCC [2025] EWHC 2713 (Comm)
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On 24 May 2023, the Court of Appeal handed down judgment in FIMBank p.l.c. v KCH Shipping Co. Ltd (The Giant Ace) [2023] EWCA Civ 569 finding that the one-year time limit in Art III r.6 of the Hague-Visby Rules ("HVR") applies to claims for misdelivery of cargo after discharge from the Vessel.
FIMBank (as appellant), was the holder of 13 bills of lading (the "Bills") covering a cargo of 85,510 MT of non-coking steam coal (the "Cargo"), shipped on board the vessel "GIANT ACE" in Indonesia and discharged in India between 1-18 April 2018. FIMBank held the Bills as security by way of a pledge, having financed the buyer's purchase of the cargo.
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