Toro Shipping Corporation v. Bacon-Mcmillan Veneer Manufacturing Company

HUNTER, District Judge:

Appellant, Toro Shipping Corporation (a Panamanian corporation), chartered one of its ships (S. S. NADINE) to Maderas Y. Triplex (a Colombian corporation), for use in shipping logs between Colombia, South America and Gulf Coast ports of the United States. The time charter was signed in March of 1964. In early December of 1964, appellee entered into negotiations with Triplex for the purchase of the Cativo logs which were seized in this action.1 On January 25, 1965, appellee’s need for these logs became pressing and one of its officers telephoned Triplex and arranged for…