The Dow Chemical Company v. M/v Gulf Seas, Its Tackle, Etc., in Rem, Gulf Mississippi Marine Corporation

In 1971 Dow’s barge and cargo, while in custody of Gulf Mississippi’s tug, sank. Dow sued for damages, and Gulf Mississippi denied liability. The trial judge eventually found mutual fault and divided liability evenly between the parties. In a separate trial on damages, the court found replacement of the barge to cost $980,000. Dow had alleged its value at $1,500,000. Other damages were not seriously disputed. The judge found no “peculiar circumstances” justifying denial of prejudgment interest, citing Socony Mobil Oil Co. v. Texas Coas. & Intern., Inc., 5 Cir. 1977, 559 F.2d 1008.

Gulf…