Fulton Shipping Inc of Panama v Globalia Business Travel SAU (The “New Flamenco”) – Supreme Court (Lord Neuberger PSC, Lord Mance, Lord Clarke, Lord Sumption and Lord Hodge JJSC) [2017] UKSC 43 – 28 June 2017

Charterparty – Anticipatory breach – Damages – Time-charterers redelivering vessel early – Whether owners bound to give credit for value of vessel sold on repudiation for greater sum than value of vessel at contractual date of redelivery

The vessel New Flamenco was time-chartered by the claimant owners to the defendant charterers on the NYPE form from 13 February 2004 to 2 November 2009. The charterers redelivered the vessel early on 28 October 2007 and the owners treated the charterers as being in anticipatory repudiatory breach.