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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

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

Stop Work Call at Australian Ports

A 4-hours stop work meeting has been formally notified by the MUA at the PB Towage operations at the ports of Sydney, Brisbane, Melbourne and Newcastle on Friday 10 October. This comes after PB Towage and the respective maritime unions failed to reach a settlement on the renewal of the PB Towage Enterprise Agreement. Negotiations are continuing, with the unions due to report back through the Fair Work Commission on Monday 13 October.

BP Wins Right to Appeal Gulf Spill Damages Claims

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

SBM Offshore Says Petrobras Discussions Ongoing

Floating production services provider SBM Offshore responded to media reports of a potential settlement with Petrobras regarding tenders in Brazil, stating the discussions are presently ongoing and a conclusion has not been reached.   SBM Offshore announced September 28 that it was invited to participate in Petrobras tenders.   The company said it is in constructive discussions with the authorities but will not further comment pending the finalization of these discussions

U.S., Alaska End Exxon Valdez Legal Action

The Exxon Valdez remains in place in Prince Williams Sound, Alaska after running aground on Bligh Reef March 23, 1989, spilling 11 million gallons of crude oil (USCG photo)

U.S. and Alaskan authorities have ended their efforts to seek additional damages from Exxon Mobil Corp over the 1989 Exxon Valdez oil spill and the subsequent settlement, the Department of Justice said on Thursday. The department said in a statement that it is "bringing to a close the

Brazil Gives SBM Ultimatum in $250M Bribery Settlement

Brazil has told Dutch SBM Offshore NV, the world's top oil production ship leaser, to agree soon to a $250 million bribery settlement if it wants to regain its biggest client in the world's largest oilship market, a government source told Reuters.

APL Antes Up in DoD False Claims Case

APL Ltd. to Pay $9.8 Million to Resolve Alleged False Claims Under the Department of Defense Shipping Contract. APL Limited has agreed to pay the government $9.8 million to resolve allegations that it violated the False Claims Act in connection with a contract to provide GPS tracking of

Alabama Announces $20 Million Transocean Settlement

Governor Robert Bentley on Thursday announced that Alabama has agreed to a settlement with Transocean Offshore Deepwater Drilling, Inc., which owned the Deepwater Horizon. Alabama will receive $20 million. “The State of Alabama suffered tremendous environmental and economic losses because

Matson Settles with Hawaii Settle on Molasses Incident

Pacific cargo shipper Matson, Inc. informs that a settlement has been reached with the State of Hawaii to resolve all civil, criminal and administrative claims that the State could have had arising from the discharge of molasses into Honolulu Harbor in September 2013. 

Matson Declares 2Q EPS Of $0.23

Photo Matson, Inc.

  Matson, Inc., a U.S. carrier in the Pacific, reported net income of $9.9 million, or $0.23 per diluted share for the quarter ended June 30, 2015.  The company said its second quarter results were negatively impacted by $13.5 million of additional selling

Overseas Shipholding Investors Settle Lawsuit with Execs, Others

Overseas Shipholding Group Inc investors have reached $16.25 million in settlements with the executives, underwriters and an auditor of the tanker company in a lawsuit related to its 2012 bankruptcy and tax problems.   Company directors and officers

Dryships Post 2Q Loss

George Economou, Chairman and Chief Executive Officer

  DryShips Inc. an international provider of marine transportation services for drybulk and petroleum cargoes, and through its affiliate, Ocean Rig UDW Inc., or Ocean Rig, of offshore deepwater drilling services, today announced its unaudited financial and operating results for the second

Strike Call Lifted on Panama Canal Expansion Work

Panama Canal Expansion

  The Panama Canal Authority (ACP) expressed its satisfaction after the main contractor for the Third Set of Locks Project, Grupo Unidos por el Canal (GUPC), and the National Union of Workers of Construction and Similar Industries (SUNTRACS) reached an agreement which supersedes the strike

MN 100: Gencorp Insurance Group


The Company: Gencorp Insurance Group provides the Insurance and Surety needs of Marine Contractors, Vessel Operators and Shipyards throughout the country and Caribbean. Gencorp’s Marine Group facilitates the coverage placement and claims settlement for all insureds

Singapore Becomes Sea-Dispute Settlement Centre

President of the Tribunal, Judge Vladimir Golitsyn, and Permanent Secretary to the Ministry of Law, Ng How Yue. Photo: Ministry of Law, Government of Singapore

 The government of Singapore has become a venue in Asia to settle maritime disputes for proceedings before the International Tribunal for the Law of the Sea (ITLOS).    A joint declaration was signed  between ITLOS president Vladimir Golitsyn and permanent secretary to the

General Counsel Sjöbring Quits Transocean

Lars Sjobring

  Transocean Ltd. today announced that Lars Sjöbring, Senior Vice President and General Counsel, has informed Transocean that he will be leaving the company. Mr. Sjöbring has agreed to aid in the search for a replacement, but will resign no later than December 31, 2015.

BP Wins One US Court Ruling, Loses Another Over 2010 Gulf Spill

U.S. Coast Guard photo

A U.S. appeals court said BP Plc, which in July reached a $18.7 billion settlement of federal, state and local claims over the 2010 Gulf of Mexico oil spill, must face one of two proposed class-action lawsuits claiming that the oil company defrauded shareholders over the disaster.  

336 Ships Transited Suez Canal Last Week

Photo: Suez Canal Authority

 A total 336 ships transited the canal last week, carrying a total cargo of 19.5m tonnes, reports Daily News Egypt quoting new data from the Suez Canal.   The average number of ships transiting the canal daily reached 48 throughout last week, with average cargos amounting to 2

Zim plans Wall Street IPO

Photo: ZIM Integrated Shipping Services Ltd

 Israel’s Zim Integrated Shipping Services has hired two banks to carry out its initial public offering (IPO) in the US, Bloomberg reported.   Zim Integrated Shipping Services Ltd has hired Bank of America Corp.’s Merrill Lynch unit and Barclays Plc to lead a New York IPO

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