WATERSWEET LIMITED Vs. FERTILISERS AND CHEMICALS

JUDGEMENT

(1.) The petitioners and the respondent entered into a charter party agreement dated 11.10.2001 for bulk supply of sulphur to be transported from Jubail to Cochin. The contract inter alia provided as under:

(2.) Prior to the execution of the charter party agreement, the respondent had entered into a contract with the seller, M/s.ICEC Ltd. Gibraltar dated 15.9.2001. The relevant clauses of the contract are as under:

(3.) The shipment was made and received but there was delay at port of loading. The petitioners claimed amounts in terms of clause 9 of the charter party agreement and in view of the existence of the arbitration clause between the parties in the charter party agreement, the disputes were referred to arbitration. The said arbitration clause 46 is as under: