MEMORANDUM OPINION
MOTLEY, District Judge.
On March 23, 1977, plaintiff, Sohtorik Shipping and Trading, Inc., entered into a time charter agreement with Godager Shipping Agencies, A/S, Oslo (Godager). The agreement chartered to Godager a ship owned by plaintiff, the M. V. "Norse Transporter." Godager then subchartered the vessel to defendant, Peter Cremer Befrachtungskontor. The subcharter agreement provided for a voyage from Barbados to Denmark. On July...
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