American President Lines, Ltd. v. United States Ofamerica

Libellant sued to recover claimed excessive charter payments. Three charters each covering the two ships in question are involved. In an exhaustive, sound opinion 1 Chief Judge Wright held as to all three charters that the libel is patently inadequate on the merits to afford relief and that claims under the first two charters were barred by the statute of limitations. Regarding the latter, in essence the court found that the basic rate of charter hire had to be calculated on the unadjusted sales price of the ships and that this is determined by halving the prewar domestic cost; that on…