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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


Rickmers Sells Vessel to Survive

Photo: Rickmers Maritime Trust

 Rickmers Maritime Trust has completed the sale of a vessel in connection with the settlement of senior loan facilities that German lender Commerzbank's Singapore branch extended to a unit of the trust.  "The Trustee-Manager wishes to announce that the sale of the “India


Nigeria to Pursue peace in restive Oil-producing Delta Region

Nigerian President Muhammadu Buhari Photo Nigerian goverment website

Nigeria's government will seek a lasting peace settlement with militants in the oil-producing southern Niger Delta region in 2017, President Muhammadu Buhari said in a New Year's message on Saturday. Attacks on oil facilities in Nigeria's energy hub, coupled with low oil prices


Keppel FELS Resells Jackup Rig

Photo Keppel Offshore & Marine

Keppel Corporation Limited (the “Company” or “KCL”) refers to its announcement on 2 August 2013 on the construction contract ("Construction Contract") entered between Keppel FELS Limited (“KFELS”)


First into Montreal gets Gold-Headed Cane

 From left to right Michel Picard, Montarville Member of Parliament to replace the Honourable Marc Garneau, Canadas Minister of Transport; Denis Blondeau, president of SMK Tanker Agency (shipping agent) to replace the captain Danel Ju; Sylvie Vachon, President and CEO of the Montreal Port Authority; Jean DAmour, Minister for Maritime Affairs of Quebec and Denis Coderre, Mayor of Montreal.

The President and CEO of the Montreal Port Authority (MPA), M me Sylvie Vachon, today presented the Gold-Headed Cane to the shipping agent Denis Blondeau SMK Tanker Agency for the captain Danel Ju. Mr. Danel Ju of South Korean nationality and is the commander of Chem Sirius


BOURBON to Pay Dividend for 2015

Bourbon - A world leader in marine services for offshore oil and gas Photo Bourbon

The Annual General Meeting of BOURBON shareholders held on May 26, 2016 approved the payment of the dividend for 2015 of €1.00 per share and that each shareholder can choose to receive the dividend either in cash or in new shares. The period for exercising the option ran from June 15


EU's Statement on South China Sea Reflects Divisions

The European Union issued a statement on Friday noting China's legal defeat over the South China Sea but avoided direct reference to Beijing, reflecting discord among EU governments over how strongly to respond to the court ruling.   While the European Union is neutral in China's dispute


Petrobras, SBM Offshore, Brazilian Authorities Reach Settlement

Logo Courtesy SBM offshore

The Ministry of Transparency, Oversight and Control (Ministério da Transparência, Fiscalização e Controle - "MTFC"), the Public Prosecutor's Office (Ministério Público Federal - "MPF")


Oil Prices Rally after Turkish Military Takes Over

Map courtesy W a s h i n g t o n In s t i t u t e f o r N e a r E a s t P o l i c y

Oil prices extended gains in post-settlement trading on Friday after Turkey's armed forces said they had taken power in the country to protect the democratic order and to maintain human rights. Supply outages across the world have led to crude prices rallying from 12-year lows touched earlier


BP Puts Tab for Gulf Disaster at $62 Bln

Logo

BP announced today that following significant progress in resolving outstanding claims arising from the 2010 Deepwater Horizon accident and oil spill, it can now reliably estimate all of its remaining material liabilities in connection with the incident.  


Concordia Maritime Posts Q2 Profit

Stena Polaris (Photo: Concordia Maritime)

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel employment and successful chartering, though still coming in under its Q2 2015 results largely due to an arbitration


Indian Naval Ships Call At Port Louis, Mauritius

INS Kolkata at Port Louis, Mauritius. Photo: Indian Navy

 Indian Naval ships Kolkata and Aditya, under the Command of the Flag Officer Commanding Western Fleet, are in Mauritius since 1st September 2016, in a demonstration of India's commitment to its ties with Mauritius and to promote maritime security in the Indian Ocean region.  


Australia settles six years after Barrier Reef accident

Australia on Monday reached a A$39.3 million ($29.66 million) out-of-court settlement with the owners of a Chinese coal carrier that ran aground in 2010 on the Great Barrier Reef. The settlement, dismissed by an environmental group as not enough


Teekay Completes Norwegian Bond Issuance

Courtesy Teekay

Teekay LNG Partners L.P. announced that it has issued NOK 900 million in new senior unsecured bonds that mature in October 2021 in the Norwegian bond market. The new bond issuance, which was significantly oversubscribed, has an aggregate principal amount equivalent to approximately USD 110 million


US Boat Yard Fined for Dumping Wastewater

Photo: Billings Diesel and Marine

Billings Diesel and Marine Services, Inc. has reached a settlement with the U.S. Environmental Protection Agency (EPA) after the boat yard allegedly violated the Clean Water Act by discharging wastewater without authorization.   According to the EPA’s allegations


Rickmers Pact with Commerzbank AG

Photo: Rickmers Maritime

 Financially-strapped Rickmers Maritime has entered into a deed of consent with Commerzbank AG, Singapore Branch, reports Reuters.   Rickmers Trust Management Pte. Ltd., the holding Trustee, has entered into a memorandum of agreement for sale of "India Rickmers" vessel






 
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