Court Interprets Settlement Agreement

Thursday, February 10, 2005
The U.S. Court of Appeals for the First Circuit interpreted a settlement agreement between an insurance company and a shipowner in order to determine whether the insurance company was entitled to share in the shipowner’s subsequent settlement with a third party in a claim relating to loss of the ship. Home Insurance Company v. Pan American Grain Manufacturing Co., Inc., No. 03-2625 (1st Cir., February 4, 2005)(HK LAW)
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Ship Repair & Conversion

Sainty Marine Chairman Resigns

The chairman of Shenzhen-listed Sainty Marine, Wang Shuhua has delivered his resignation amid  the company's deteriorating financial situation, according to an exchange filing.

South Australia Seeks Shipbuilding Job Guarantees

The South Australian Government has outlined three key points on shipbuilding it wants addressed by the Commonwealth's Defence White Paper next month.   It wants

Disabled Ship Towed into Port of Djibouti

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Finance

SBM Offshore Completes $1.55 bln FPSO Financing

SBM Offshore announced it has today completed the project financing of FPSO Cidade de Saquarema for a total of $1.55 billion, marking the largest project financing in the company's history.

NAT Buys 2 Suexmax Tankers

Nordic American Tankers Limited (NAT) acquires two modern Suezmax tankers, increasing the fleet to 26 vessels    Tanker shipping company NAT announced that it

Rolls-Royce Bolsters R&D for MTU Engines

New R&D test facilities in Friedrichshafen already in service; 40 million euros invested for greater fuel economy and lower emissions    Rolls-Royce Power Systems

 
 
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