District Court, S.D. New York July 16, 1981, 75 Civ. 5292 (American Industries Corp. v. M v. Margarite)

MEMORANDUM OPINION and ORDER

LOWE, District Judge.

This is an admiralty action by American Industries Corp. (“AMI”), an American steel importer, to recover for water damage to 280 coils galvanized steel.

1

The steel was allegedly purchased from a German supplier, and shipped by barge FOB Port of Antwerp, Belgium. It was temporarily stored in a dockside warehouse and then loaded onto the M.Y.