SUNNAREN SEAWAYS INC. Vs. MSTC LIMITED

JUDGEMENT

(1.) M/s Sunnaren Seaways Inc. (hereafter 'SSI') has filed the present petition to enforce the arbitral award dated 15.04.1995 (hereafter 'the award') published by the Umpire (Capt. S.M. Berry) which was made a Rule of Court by an order passed by the Single Judge of this Court on 20.09.2006.

(2.) SSI is the owner of the vessel ­ M.V. Progressive - which was given by SSI on Charter to the respondent (hereafter 'MSTC'). MSTC had chartered the said vessel to import 17000 mt (+ - 5% at owners option) of pig iron in bulk from the Port of Novorossisk, Russia. The parties had entered into a Voyage Charter Party Agreement dated 14.12.1989 (hereafter 'Charter Party') and in terms of clause 47 of the Charter Party, all disputes under the Charter Party were to be settled in India in accordance with the provisions of the Arbitration Act, 1940.

(3.) Certain disputes arose between the parties in relation to the said Charter Party which were referred to arbitrators. Each party appointed their own arbitrator and the said arbitrators appointed an Umpire. There was a difference of opinion between the two arbitrators appointed by the parties and consequently, a reference was made to the Umpire who delivered the award on 15.04.1995.