Cleanup Insurance for Oil Tankers Increases

Monday, February 27, 2006
Tankers and other liquid-carrying ships calling at New Jersey ports will soon have to carry increased insurance against the chance they spill cargo, as happened Thanksgiving weekend in 2004, when a tanker ripped open in the Delaware River and fouled vast estuaries, especially in South Jersey. The Cypriot-flagged tanker Athos I spilled its gooey cargo as it approached the Venezuelan-owned CITGO terminal at Paulsboro. That came at a time when New Jersey required vessel operators to carry cleanup insurance of only $150 per gross ton of product spilled, based on a 1976 law. Now with the new measure becoming effective on February 28, the state demands operators carry policies insuring up to $1,200 per gross ton. That is the amount they could pay for each ton that may be spilled. The new law encountered little opposition when lawmakers passed it last year, by votes of 38-0 in the Senate and 74-3 in the Assembly.

(Source: Cherry Hill Courier Post)

Maritime Today


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

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

Finance

Sardines Boost Murmansk Port Turnover

In January 2016 turnover of the Murmansk Marine Fishing Port reached 22 thousand tons of cargo, including 15 thousand tons of fish. This is higher than last year,

COSCO Plans European Transhipment Hub

China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for

MISC Bhd: Revenue Up

Malaysia International Shipping Corporation Berhad (MISC Berhad), a shipping arm of Petronas, has seen an increase of 12.3 percent in its net profit for the 2015

Container Ships

FSL Trust Divests Two Containerships

FSL Trust Management Pte. Ltd., as the trustee-manager of First Ship Lease Trus, announced that the Trust has completed the disposal of Ever Radiant and Ever Respect

COSCO Also Eyes Greek Train Network

China's COSCO already the sole bidder for Greece's Piraeus Port. Buying both would give COSCO a European transhipment hub. China's COSCO is expected to make

Asia-Europe Box Rates Down 8 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday,

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics
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: 0.0806 sec (12 req/sec)