Stolt Offshore Settles Hubline Claim Out of Court

Monday, March 15, 2004
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 recorded at year end and the previously announced settlement of claims on the OGGS and Burullus projects, underscores our continued effort to resolve all disputes associated with the legacy contracts. Cash receipts in relation to outstanding claims in the last three months are now in excess of $100 million."

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Primeline Turns Against CNOOC

Primeline Energy Holdings Inc. announces that it has sent a letter to China National Offshore Oil Corporation (CNOOC) and CNOOC China Limited (CCL) (together CNOOC

Sovcomflot IPO Soon

The long-awaited initial public offering (IPO) of Sovcomflot, which runs one of the world’s largest tanker and gas carrier fleets, has moved a step closer.    Economy

First Cruise Company Fined under Australia’s New Fuel Rules

Australia’s NSW Environment Protection Authority (EPA) has fined Carnival PLC $15,000 after one of its P&O Cruises ships, the Pacific Jewel, breached new low sulfur fuel regulations in Sydney Harbour.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0800 sec (12 req/sec)