Famosa Shipping Company Limited v. Armada Bulk Carriers Limited (The Fanis) - (Q.B.D.) (Com.Ct.) (Mance J.) - 24 November 1993

Breach by owners - Profit on substitute charter - Whether to be taken into account in assessing damages - Test to be applied

The plaintiffs were the owners of the vessel Fanis , which they time-chartered to the defendants by fixture dated 4 January 1991 for two laden legs “within IWL - via USWC and Brazil (int 1st leg bulk soda ask and then on speculation fm Brazil” with redelivery “on passing Skaw/Passero excl Scandi and Denmark”. Due to the owners’ breach, the charter was not performed and the charterers had to charter a substitute vessel, the Chusovoy on 11 January 1991 for two laden legs “first cargo ash to Brazil and second leg intention grain/grain products/agricultural products to Cont/Med”.