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Settlement Reached

U.S. DOJ: Pollution Settlement Nets $1 Million

$1 Million Settlement Enhances Land and Sea in the Eastern District of Texas.   BEAUMONT, Texas — U.S. Attorney John M. Bales announced a settlement reached with a European shipping corporation has resulted in significant enhancements to nature conservation groups in the Eastern District of Texas. The $1 million settlement was announced at a press conference on the banks of Village Creek in Hardin County, Texas today.  CIMPSHIP Transportes Maritimos, S.A., a Portuguese corporation headquartered in Funchal, Portugal, was initially indicted in 2010 and charged with conspiring to violate environmental laws causing willful pollution of waterways within the Eastern District of Texas.     According to the indictment, CIMPSHIP owned the Niebla, a 38,000 ton ocean-going ship which was operated as a bulk-freight carrier transporting bulk cargo from various ports in the Gulf Coast including Port Arthur, Texas.  It is alleged that from Mar. 2008 through Aug. 2009, Niebla crew members failed to maintain an Oil Record Book as required by federal law.   A settlement agreement was reached between the government and CIMPSHIP in which CIMPSHIP agreed to pay a $1 million community service payment to be used for local conservation efforts in lieu of prosecution.  Federal statutes authorize such settlements to Congressionally-approved Foundations.  


Tug Company to Pay Nearly $1M for Seagrass Damage

Great Lakes Dredge and Dock Company of Oak Brook, Ilinois will pay nearly $1 million for damages to seagrass and other resources in the Florida Keys National Marine Sanctuary, the Justice Department and the Commerce Department's National Oceanic and Atmospheric Administration (NOAA) announced today. The $969,000 settlement reached on behalf of NOAA and the State of Florida is the largest ever obtained for damages to seagrass in the sanctuary


ENSCO Completes Financing Facility

ENSCO International Incorporated announced the closing of a new $195 million loan facility guaranteed by MARAD. The facility will be used to finance the ENSCO 7500 semisubmersible drilling rig currently being constructed for ENSCO by Friede Goldman Offshore. The rig is scheduled to commence drilling operations for Burlington Resources during the fourth quarter of 2000. The MARAD guarantee covers both interim financing during the construction period as well as 15 year bonds to be issued upon


LHWCA Settlement Unenforceable

The U.S. Court of Appeals for the Ninth Circuit ruled that a written settlement agreement involving a claim under the Longshoremen and Harbor Workers’ Compensation Act (LHWCA) is unenforceable unless actually signed by claimant. In the instant case, plaintiff’s decedent had filed a claim under the LHWCA. His attorney reached a settlement with the employer’s attorney, which was reduced to writing. Plaintiff’s decedent reviewed the document and approved it, but died before actually signing it


Stolt Offshore Settles Hubline Claim Out of Court

Stolt Offshore S.A. announced that following suspension of the arbitration proceedings that it had previously initiated, an out of court settlement of all outstanding claims relating to the Duke Energy/AGT Hubline project in the USA had been reached. The cash related to this claim has now been received. Tom Ehret, Chief Executive Officer of Stolt Offshore, said, "The settlement of the Hubline claim, which is in line with provisions


FMC, Transpacific Carriers Settle

Federal Maritime Commission Chairman Steven R. Blust announced yesterday that the Commission has entered into a settlement agreement with the major ocean carrier agreements and their members who serve the inbound waterborne U.S. trades with Asia, including the Transpacific Stabilization Agreement (TSA), and two TSA-related bridging agreements. The settlement addresses carrier practices investigated in the Commission's Fact Finding Investigation No


Conrad Announces Contract Modification

Conrad Industries, Inc. entered into a Memorandum of Understanding with the U.S. Army Engineer District, Philadelphia for the issuance of a modification for $4.3 million to increase the contract price of the contract entered into in September 2002 to design, construct, test and deliver four towboats. In addition, the agreement provides for time extensions to complete certain aspects of the contract. This agreement was reached to fully resolve and settle the claim filed by Conrad’s


OSG Named as Co-defendant in Indictment

Overseas Shipholding Group, Inc. was indicted on July 19, 2006 by a federal grand jury in Beaumont, Texas for alleged violations of law concerning maintenance of books and records with respect to the handling of waste oils on the Pacific Ruby, one of the company's wholly-owned Aframax vessels. OSG was named as a co-defendant in a superseding indictment of the chief engineer on the Pacific Ruby, who was first charged on May 17, 2006


Royal Caribbean, Rolls-Royce Pod Settlement

Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) and Rolls-Royce announced that they have reached a suitable and amicable resolution to the lawsuit regarding the Mermaid pod-propulsion system on Celebrity Cruises’ Millennium-class ships.   When they were first designed and implemented, podded propulsion was a significant technological advance over traditional shaft propulsion, but it experienced a number of technical issues in the early years of use


Star Bulk Receives $24.3M for Star Ypsilon Settlement

Star Bulk Carriers Corp. (NASDAQ: SBLK), announced that the claim involving the vessel Star Ypsilon has been settled. Under the settlement, the Company has received the amount of $22.22m as settlement for the unrealized revenues due to the interruption of the time charter of  the Star Ypsilon that occurred in July 2009.  Star Bulk received separately the amount of $2.08m for unpaid charter hire, bunkers and interest, bringing the total amount collected to $24


RN-Aero, KazMunayGas-Aero Join Forces

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  RN-Aero (Rosneft subsidiary) and KazMunayGas-Aero (KazMunayGas subsidiary) signed an agreement, substantially increasing cooperation between the Companies. The accord on the signing of the agreement was reached at the IATA International Aviation Forum in Dubai in the end of November.


Slow Progress in US West Coast Port Talks

The union for 20,000 dockworkers and a group of their employers at 29 U.S. West Coast ports say they are making slow but steady progress in months-long contract talks seen by the shipping industry as a contributing factor in chronic cargo backups.  


NewLead & Ironridge Global Reach Settlement

NewLead Holdings

  NewLead Holdings Ltd. announced today that the Company reached a full and final settlement with Ironridge Global IV ("Ironridge") on December 11, 2014 of all disputes between the parties.  Pursuant to the settlement


Indian Shipyard Eyes Foreign Warship Orders

Garden Reach Ship Builders

Garden Reach Shipbuilders and Engineers Ltd (GRSE)  is trying to get a toehold in the international market, eyeing orders worth $425 million to supply warships to the navies of the Philippines and Vietnam.   A Kolkata-based shipyard will enter into the global warship market by bidding


US, ATP-IP Reach Settlement over Unauthorized Oil Discharges

Offshore Oil Platform Owner to Improve Safety and Operations in Gulf of Mexico Following Unauthorized Oil Discharges; EPA and Bureau of Safety and Environmental Enforcement secure settlement in first joint judicial enforcement action under Clean Water Act and Outer Continental Shelf Lands Act


Strike Averted at St. Lawrence Seaway

St. Lawrence Seaway and UNIFOR agree to binding arbitration, avoid strike The St. Lawrence Seaway Management Corporation (SLSMC) announced that it has reached agreement with UNIFOR, which represents the corporation’s 460 unionized employees


Stolt-Nielsen Board Declares Interim Dividend

Stolt-Nielsen Limited today announced that the company's board of directors approved the payment of an interim dividend of $0.50 per Common Share on December 11, 2014 to shareholders of record as of November 26, 2014. In accordance with normal settlement practice


SBM Offshore Reaches Out-of-court Settlement

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  SBM Offshore today reached an out-of-court settlement ex Article 74 of the Dutch Criminal Code with the Dutch Public Prosecutor's Office (Openbaar Ministerie) over the inquiry into alleged improper payments.  Furthermore, the United States Department of Justice has informed SBM


SBM Offshore Shares Jump as Bribery Case Settled

Photo: SBM Offshore

SBM Offshore NV has settled a bribery case with Dutch prosecutors for $240 million, including a $40,000 fine, sending shares in the Dutch oil platform leasing firm up more than 20 percent on Wednesday. The settlement, which was in line with provisions already taken


Petrobras Sets Record in Brazil

  Consolidated Oil and Gas Petrobras in Brazil and abroad, production amounted to 2 million 795 thousand barrels of oil equivalent per day (boe) in October. This volume was 0.5% higher than in September, which was 2 million 781 thousand boe. Oil production in Brazil grew by 0


Courts Upholds BP 'gross negligence' Gulf Spill Ruling

A U.S. judge weighing how much BP Plc should be punished for the 2010 Gulf of Mexico oil spill on Thursday refused to overturn his own finding that the oil company's conduct was "grossly negligent." The decision by U.S. District Judge Carl Barbier in New Orleans means BP could still


Boskalis Raises Full-year Profit Forecast

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  Q3 TRADING UPDATE - HIGHLIGHTS Good third quarter with sizable financial settlements on old projects Order book increased slightly to EUR 3.3 billion 2014 OUTLOOK Market conditions remain challenging Good second half-year expected


Reach Bags Technip ROV Work

Reach Subsea has secured a deal worth up to Nkr70 million

  Reach Subsea has secured a deal worth up to $10.3 million with Technip to provide remote-operated vehicle services on a newbuild subsea construction vessel to be supplied by Eidesvik Offshore. Eidesvik Offshore and Reach Subsea have in partnership entered into a firm contract with


Night Moves on America's Waterways

Overnight operations are certainly not unusual on America’s inland waterways, but that doesn’t make them any less hazardous. Onboard activities that seem so straightforward and customary in the light of day can take on a decidedly different feel after the sun sets and darkness


SBM Offshore Cutting 1,200 Jobs Worldwide

Dutch oil platform leasing company SBM Offshore is cutting 1,200 jobs, or slightly more than 11 percent of its global workforce, as part of a cost-saving programme. The company, which settled a bribery case with Dutch prosecutors for a record $200 million payment last month






 
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