CANNELLA, District Judge.
On September 30, 1961, the Liberian freighter S.S. Everest was time chartered (for a period of four to six months) by her owner, the World Wide Steamship Co., Inc. [hereinafter "World Wide"], to the Orient Mid-East Lines of Panama [hereinafter "Orient"]. Thereafter on October 6, 1961, Orient entered into a Baltimore berth grain charter party
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