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Case of the Day: Flame S.A. v. Freight Bulk Pte. Ltd.

The case of the day is Flame S.A. v. Freight Bulk Pte. Ltd. (4th Cir. 2014). Flame was a Swiss shipping and trading company. It entered into forward freight swap agreements with Industrial Carriers, a firm organized under an unspecified country’s law that did business in New York. “What’s a forward freight swap agreement,” I hear you ask? Here is a description from D’Amico Dry ltd. v. Primera Maritime (Hellas) Ltd., a recent Second Circuit case:
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