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 November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


NY/NJ Port Authority Sees Debt Issuance of $1.2 bln in 2016

The Port Authority of New York and New Jersey sees consolidated debt issuance of $1.2 bln in 2016 compared with $1.5 bln this year, according to its $7.9 billion 2016 budget released on Monday.

Opportunities for Growth as Chinese Economy Evolves

The global breakbulk and heavy-lift markets have had to navigate choppy waters in recent years.   Not necessarily due to a shortage of freight, but as a consequence of unsustainably low freight rates.

EuronavSells Suexmax Cap Laurent

Euronav NV announced the sale of its Suezmax Cap Laurent for $22.25 million. The 1998-built 146,145-dwt vessel was wholly owned by Euronav.    The vessel was

Container Ships

Euroseas Sells C/V Marinos

Euroseas Ltd.  an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes,

Groundbreaking Ceremony for Seaspan's Vancouver Office

Seaspan hosted a groundbreaking ceremony today to announce it has officially started construction on a new head office in North Vancouver. The 7,800 square metre (84,

SSA Welcomes Decision To Extend BEO

The Singapore Shipping Association (SSA) has welcomed the decision by Singapore’s Minister for Trade and Industry to extend the Competition (Block Exemption

Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Sonar
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: 0.0769 sec (13 req/sec)