$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.
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 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
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 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
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 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
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 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
BP Plc deserves the right to have a federal appeals court review some damage claims awarded under the settlement to compensate people and businesses harmed by the 2010 Gulf of Mexico oil spill, a U.S. appeals court ruled on Friday. The 5th U.S. Circuit Court of Appeals in New Orleans said BP did not expressly waive its right to appeal various claims determinations made under the 2012 settlement following review by a district court
Arctic Ocean is facing a dilemma today and that is acidification. Ocean acidification is a result or a chemical reaction which happens when seawater absorbs too much carbon dioxide from the atmosphere—reducing its acidity, carbon ion concentration and saturation.
Offshore oil and gas drilling firm Northern Offshore Ltd. has reached agreement on the terms of a recommended $165m cash acquisition by Shandong Offshore International Company Limited. The NOK7.59 per share offer by Shandong has been unanimously recommended by the board of
South Africa's competition watchdog has recommended Japanese shipping firm Nippon Yusen Kabushiki Kaisha Ltd (NYK) pay a 104 million rand ($8.5 million) penalty for price-fixing and collusion in the transport of cars. The Competition Commission said on Tuesday NYK had admitted guilt and agreed
Norwegian Energy Company ASA announces that it has reached an agreement with its joint venture partners in Denmark with respect to its forfeited licences and related abandonment liabilities. Noreco has terminated its joint venture and its participation in the Nini and Cecile oilfields
Stolt-Nielsen Limited announced the placement of senior unsecured bonds in a total amount of NOK 1,100 million in a new five-year bond issue carrying a coupon of 3M NIBOR plus 4.1 percent. The placement was oversubscribed. The settlement date for the bonds will be April 8, 2015
With Italian authorities rescuing 8,500 migrants in the Mediterranean over the weekend and reports up to 400 may have died, there can be no doubt that an unprecedented summer surge in migrant sea crossings is already under way, say Italian media.
Iran's Supreme Leader Ayatollah Ali Khamenei told military commanders on Sunday the United States had created the "myth" of nuclear weapons to portray Iran as a threat, hardening his rhetoric before nuclear negotiations resume this week.
At the Annual General Meeting, held today, Technip’s shareholders approved the proposed €2.00 per share dividend for the 2014 financial year and decided to offer shareholders an option to receive the dividend payment in shares.
Iran said on Wednesday a legal settlement could be reached soon over its seizure of the Marshall-Islands flagged Maersk Tigris container ship in the Strait of Hormuz last month, according to the official IRNA news agency. The Maersk Tigris was diverted on April 28 by Iranian patrol boats in one
Maersk Line said on Wednesday it had provided a letter of undertaking in relation to uncollected cargo that has led to the seizure by Iranian authorities of the vessel Maersk Tigris. "Today, we have had a constructive dialogue with the Iranian courts and Ports & Maritime Organization
A settlement between the U.S. Environmental Protection Agency and U.S. Navy will help reduce potentially harmful discharges of ozone-depleting substances and ensure the safe storage and disposal of hazardous waste at the Naval Station Norfolk in Virginia
Tacoma Industrial Properties (TIP) and RV Associates , two companies involved in a 2012 oil spill while dismantling an unpermitted barge on the Hylebos Waterway in Tacoma, have settled their penalties with the Washington Department of Ecology.
Transocean Ltd. announced that it has reached two separate settlement agreements, with the Plaintiffs' Steering Committee (the "PSC") and with BP Exploration & Production Inc. and BP America Production Co. ("BP")
The Atlantic Ocean will see a below-average number of hurricanes this season due to cooler seas and a strong El Niño effect, the U.S. government weather forecaster announced on Wednesday. The forecast calls for six to 11 tropical storms this year
Over $750 million worth of fuel oil traded 1st week of June. Trading frenzy leads to record price swing. Major commodity houses are betting against each other on the direction of fuel oil in Singapore, the world's largest market for shipping fuel