Ibe Shipping Corp. v. Exmar NV – SMA No. 3966, 18 Jun 07

ASBATANKVOY — CARGO — COA — FAIRLY EVENLY SPREAD — SPOT MARKET RATE — CARGO NOMINATION REJECTED — FAIRLY EVENLY SPREAD — Charterer Award

The Owner refused to nominate a vessel to lift the final COA cargo tonnage on the grounds that a third voyage in one month violated the contracted “fairly evenly spread” nomination requirement. The Charter subsequently had to load the remaining cargo at the substantially higher spot market rate and began arbitration to recover the resulting losses.