Arbitration

The Commercial Court, in dismissing an appeal concerning the true construction of a contract, under which the defendant had built a vessel for the claimant, held that an arbitration tribunal had correctly held that, on the true interpretation of the contract, a claim for diminution of value, in respect of the vessel, which had suffered engine failure after it had been delivered, was also a claim for “consequential or special loss” in respect of which liability was excluded.