OSG to Pay $2m in Fines

Wednesday, January 03, 2007
Maine to Get $2m from ocean-pollution fine According to reports, a record $37m pollution fine against a fleet of tankers is expected to pump $2m into marine conservation efforts in the Gulf of Maine. The company paying the fine, meanwhile, says the employees responsible for the pollution violated its policies and were fired. Overseas Shipholding Group pleaded guilty earlier this month to charges that several of its tankers dumped oily wastes into the ocean during the past five years instead of going through the time and expense of proper disposal, and that crews tried to cover up the violations by falsifying logbooks. Part of the $37 million penalty is intended to be restitution for the environmental damage, and Maine's share of that is $2.06 million. Source: Portland Press Herald

Contracts

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

Legal

Industry Wants Hanjin Shipping to Merge with Hyundai Merchant Marine

The Korea Shipowners’ Association (KSA) has officially suggested Hanjin Shipping merge with Hyundai Merchant Marine (HMM) to prevent  court receivership and liquidation, reports Business Korea.

Securing the Scorpene: DCNS to Move Court

The French shipbuilder DCNS plans to seek an injunction to prevent further publication of information contained in 22,400 secret documents about stealth submarines built for India,

SOS from Hanjin Shipping

The creditors' extended help is crucial for survival of Hanjin Shipping Co as its negotiations with owners of chartered ships over a cut in leasing rates and to

 
 
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