Changes

In reversing the decision of the Court of Appeal [[http://www.onlinedmc.co.uk/index.php/Fulton_Shipping_v_Globalia_Business_Travel_-the_New_Flamenco_-_Court_of_Appeal_Decision]] and reinstating the decision of the High Court[[http://www.onlinedmc.co.uk/index.php/Fulton_Shipping_v_Globalia_Business_Travel_-_The_New_Flamenco]], the United Kingdom Supreme Court held that, on Charterers’ earlier repudiation of the Charter, Owners were not obliged to give credit to Charterers for the capital value of selling the Vessel for a greater sum than the value of the Vessel had there been a notional sale at the contractual date for redelivery under the Charter, as the repudiation was not the legal cause of the capital gain and the sale of the Vessel was not a successful act of mitigation for the lost income stream of hire under the Charter caused by the repudiation.