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Once the Owner accept the Charterers' repudiation, i.e., rejection of paying due hire and terminate the contract, the Owner need to take reasonable steps to mitigate its loss, e.g., to look for substitute charterers etc.. When the Owner signed the new charterparty with new substituted Charterers within a reasonable period, and the new hire payable to the Owner is less than the original hire which should be paid by that original Charterer in default, then the Owner can claim damages against that breaching Charterer for the difference between the new hire and the old hire for the rest two years. If the Owner can prove other actual losses caused by the breach of the Charterer, it is also possible to claim that sum against the Charterer.

Only for your reference.

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4# Patricklee

Hi Patricklee,

I think it will be a matter of evidence and a matter of fact. The basic legal position is that you can claim damages against the owner, but you must well prove what damages you actually suffered. This may be a difficult task for claiming profits, but I cannot say it will never succeed. If you have strong and full evidence to show what kind of profits you lost and will lose, and that such loss is or ought to be within owner's knowledge, then your claim will become possible.

Only for your reference.

Good Luck.