PDVSA Petroleon y Gas SA v. Poseidon Schiffahrt GmbH (The “Pharos”) – SMA No. 3972, 6 Aug 07

ASBATANKVOY -- DELAY -- FAILURE TO PROSECUTE -- DISMISSAL -- Partial Owner Award The Charterer began arbitration to recover damages resulting from an Owner breach of contract and demanded for an immediate partial reward. However, the Charterer delayed to prosecute the manner beyond the claim’s submission and after eight years of delayed prosecution, the Owner moved to dismiss the case.