In Re an Arbitration Between Cia De Navegacion Omsil, S.A. & Hugo Neu Corp.

OPINION

FRANKEL, District Judge.

This is one of too many cases where the advantage of speed (among other benefits) sought through the use of arbitrators has not been realized. The underlying dispute having arisen at some earlier time (not precisely specified), the parties proceeded early in 1971 to a fairly standard form of arbitration. The shipowner named an arbitrator, the charterer named a second, and the two thus chosen agreed upon a third. The panel held an initial meeting on January 18, 1971. Other meetings and evidentiary hearings followed in a leisurely schedule. The hearings were…