LUMBARD, Circuit Judge:
On February 7, 1970, the ANTONIO DEMADES, a 700 foot cargo ship owned by the defendant, Anthony Shipping Co., Ltd., then under lump-sum charter to the Hugo Neu Corporation, and carrying over 25,000 tons of steel scrap, sank in the North Pacific on its way to Japan. The cargo owner, Yawata Iron & Steel Co., Ltd., brought suit in the Southern District on February 3, 1971, claiming the shipowner was responsible...
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