$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
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
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
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
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
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
The European Commission has requested the World Trade Organisation (WTO) to set up formal consultations under its Dispute Settlement mechanism over the unfair Korean shipbuilding practices. This decision has been taken further to the failure to reach an amicable solution to this long-standing dispute by September 30, 2002. EU Trade Commissioner Pascal Lamy said: "The lack of progress in our bilateral discussions so far has left us with no option but to take Korea to the WTO
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 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
Halliburton Co said it reached a $1.1 billion settlement for a majority of claims against the company for its role in the BP oil spill in the Gulf of Mexico in 2010. The settlement, which includes legal fees, is subject to approval by the U.S. District Court for the Eastern District of Louisiana
16 Main Street East Greenwich, RI 02818 Telephone: 401 336 2182 E-mail: email@example.com Website: www.gencorp-ins.com CEO/President: Robert G. Padula Number of Employees: 70 The Company: Gencorp Insurance Group provides the insurance and surety needs of marine contractors
Despite what it describes as 'challenging market conditions' Royal Boskalis Westminster N.V. posted record profits in the first half year ended 30, June 2014. Highlights first half 2014 - Revenue exceeds EUR 1.5 billion - EBITDA: EUR 466 million
Foster Wheeler AG (Nasdaq: FWLT) today reported income from continuing operations for the second quarter of 2014 of $85.6 million, or $0.85 per diluted share, compared with $68.3 million, or $0.68 per diluted share, in the second quarter of 2013.
By extracting a $13 million penalty and imposing tough restrictions on future oil trading by Arcadia and others, the U.S. Commodity Futures Trading Commission (CFTC) this week sent a powerful signal that laws against market manipulation still have teeth.
The International Salvage Union has published is Annual Review for 2013 which formally sets out the governance and work of the ISU which is the global trade association representing the interests of its members who are marine salvors. The ISU Annual Review includes a summary of the annual
Russia and the world's top energy user China may jointly develop six floating nuclear power plants (NPPs), Russia's nuclear export body said on Tuesday, a further joint energy project since the signing of a $400 billion gas supply deal. Rusatom Overseas
Fugro says that (an as yet unidentified vessel) recently affected by a fire is back in operation. The total time out of operation amounted to seven weeks. Secondly, the company also confirmed that a divers strike in Brazil has reached a negotiated settlement and the divers have
A $180 million claim involving the Panama Canal's disputed $1.6 billion cost overrun is headed to arbitration court in Miami next week, canal officials said on Monday. The $180 million claim by the consortium working on the massive canal expansion project is the first of several disputed
EURONAV announces that it has raised $125 million in total in gross cash proceeds through a private placement of 10,556,808 new shares to institutional investors selected through an accelerated book build offering. Following strong demand, Euronav decided to upsize the initial offering from $100
EURONAV has entered into an agreement for the purchase of four modern Japanese built VLCC vessels for an aggregate purchase price of $342 million. The vessels are on average three years old. This acquisition fits into the company’s strategy to further strengthen its position as the leading
Royal Dutch Shell is ready to pay up to 30 million pounds ($51 million) in compensation for two oil spills in Nigeria in 2008 after a London court rejected a larger claim, sources involved in the case said on Friday. Around 11,000 residents of the Bodo community in the Niger Delta represented
BP Plc on Wednesday said it will ask the U.S. Supreme Court to review a court ruling concerning the 2010 Gulf of Mexico oil spill, which forces the company to pay some businesses for economic damages without the businesses having to prove the spill caused their losses.
More workers in Norway's oil sector walked out of wage talks on Wednesday, sending the dispute to a state mediator and raising the prospect of a repeat of a 2012 strike. Workers who operate onshore supply bases broke off talks, joining platform oil workers and oil service employees in
U.S. oil prices rose to near one-month highs on Monday as a weak dollar prompted buying a day before the June contract's expiration, while Brent prices fell as slumping global equities outweighed the impact of low Libyan output. The U.S. dollar fell to its lowest level in more than three months