MEMORANDUM OPINION AND ORDER
HAIGHT, District Judge:
This admiralty litigation arises out of a voyage that never took place.
By voyage charterparty dated July 11, 1986, Kukje Shipping Co., Limited, a Korean corporation and owner of the M/V Green Star ("Kukje") contracted with Nissho-Iwai American Corporation ("NIAC") as charterer to load on the vessel at "New
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