Initial Report on Cosco Busan Incident Prepared

Thursday, January 17, 2008
The Coast Guard issued a press release stating that the initial report on the COSCO BUSAN incident has been prepared and forwarded to Headquarters for review. The report, prepared by the Incident Specific Preparedness Review (ISPR) team, focuses on the first two weeks of the response to the November 7, 2007 allision of the freighter with a pier of the San Francisco-Oakland Bay Bridge and the ensuing oil spill. Public release of the report is expected in approximately two weeks. source: HK Law

Finance

OSV firm Farstad Continues Restructuring Talks

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. 1   Notable disclosures: * CEO says is talking

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

China Cosco Sinks into Red

Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half,

 
 
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