Bayoil Supply and Trading Ltd. v. Lamar Navigation, Ltd.Sea Giant, SMA No. 3790
SHELLTIME 4 -- TIME CHARTER -- VOYAGE -- ARBITRATION -- DEMURRAGE -- Charterer Award
In this time charter voyage, the Charterers had credit owed to them by the Owner. But because a company tied to the Charterer is in debt to the Owner, the Owner refused to pay the Charterer and used the other claim as credit to offset the debt.