Eco-Tankship Opposes Enron Auction

Monday, December 31, 2001
South Carolina based Eco-Tankship, Inc. is contemplating a bid to oppose the auction of Enron Corp's "enrononline" trading division. The auction, approved last week by Southern District of New York bankruptcy court judge Arthur Gonzales, has been scheduled for January 10, 2002. Alexander Schizas President and CEO of Eco-Tankship has notified counsel for the creditors committee, the debtors in possession and the US trustees of Eco's interest in moving to oppose the sale. The particulars of the opposition surround Schizas' request for full disclosure by Enron regarding the auction. Schizas' group contends that Enron must disclose that they do not have proprietary rights to the Internet based trading of Liquefied Natural Gas in its physical form and as futures and options on futures. Schizas' group owns the LNGHUB.COM website which was established in March for the purpose of trading LNG. With the increased interest in the utilization of this clean burning fuel for power generation the world over, Schizas is seeking to ensure that "if and when" the Enron trading division resumes operations, that he and Eco-Tankship will not find themselves in a protracted legal battle over who has rights to trade this commodity and the financial contracts. Schizas claims that he individually filed a utility patent application covering the trading of LNG in June of 2001.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

Taiwan Eyes Budget for New Submarines

Taiwan’s defense ministry seeks financing to expand the country’s submarine fleet, reports Reuters quoting local media reports.   The government has allocated $92.

Chinese Ships Spotted off Alaska

Five Chinese Navy ships are sailing in international waters in the Bering Sea off Alaska coast, coinciding with President Barack Obama’s visit to the the U.S. state.

USN's Fourth MUOS Satellite Launched

After a two-day delay due to tropical storm conditions, the Navy's fourth Mobile User Objective System (MUOS) satellite launched at 6:18 a.m. EDT from Space Launch Complex 41.

Energy

Hanjin Rolls Out First Philippine-made LPG carrier

Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), which operates the world's fourth shipbuilding facility in Subic Freeport Zone, unveiled the

USN's Fourth MUOS Satellite Launched

After a two-day delay due to tropical storm conditions, the Navy's fourth Mobile User Objective System (MUOS) satellite launched at 6:18 a.m. EDT from Space Launch Complex 41.

Husain appointed ABB’s CTO

ABB, the leading power and automation technology group, has appointed Bazmi Husain as Chief Technology Officer (CTO), effective January 1, 2016. Husain, an expert

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair 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: 0.3243 sec (3 req/sec)