*Fulton Shipping Inc of Panama v Globalia Business Travel S.A.U. (formerly Travelplan S.A.U) of Spain

Shipping – Charterparty. A dispute arose about the alleged extending of a charterparty of a vessel. Considering anticipatory breach to have occurred, the owners sought to accept the breach and sold the vessel. By the time of the hearing, it was apparent that there was a significant difference in the value of the vessel when the owners sold it and November 2009, when the vessel would have been redelivered to owners had the charterers not been in breach of the charterparty. The Commercial Court held that the owners had not been required to give any credit for any benefit in realising the capital value of the vessel in October 2007, when the owners had arranged to sell it.

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