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On the charterers’ earlier repudiation of the charterparty, the owners were not obliged to give credit to the charterers for the capital value of selling the vessel for a greater sum than the value of the vessel at the contractual date for redelivery under the charter, as the repudiation was not the legal cause of the capital gain.
'''Note: this decision has been was overruled by the Court of Appeal - [2015] EWCA Civ 1299- see [[http://www.onlinedmc.co.uk/index. A note of php/Fulton_Shipping_v_Globalia_Business_Travel_-the_New_Flamenco_-_Court_of_Appeal_Decision]] - but was restored by the Supreme Court of Appeal decision is in preparation- [2017] UKSC 43 - see [[http://www.onlinedmc.co.uk/index.php/Fulton_Shipping_v_Globalia_Business_Travel_-_The_New_Flamenco_-_Supreme_Court_Decision]]'''
Case note contributed by Jim Leighton, LLM (Maritime Law), LLB (Hons), BSc (Hons), Solicitor of England & Wales, and International Contributor to DMC’s Case Notes
