US Flies Italian Exec to Florida in Extradition

Posted by Eric Haun
Friday, April 04, 2014

The United States has extradited a former executive of an Italian marine hose manufacturer to face price-fixing charges in what the Justice Department said was its first extradition on antitrust charges.

Romano Pisciotti, a former executive with Italy's Parker ITR SRL, was extradited from Germany and arrived in Miami on Thursday to face a single count of rigging bids and allocating market share in the marine hose industry, the department said.

Marine hose is used to move oil between storage facilities and tankers.

If convicted, Pisciotti could face 10 years in prison and a $1 million fine, the department said.

Five companies - Parker ITR, Bridgestone Corp, Trelleborg, Dunlop Marine and Oil Ltd, and Manuli Rubber Industries, SpA, a Florida subsidiary of Manuli SpA - have pleaded guilty to price-fixing in the marine hose industry, the department said. Nine people also have pleaded guilty in the conspiracy.

(Reporting by Diane Bartz; Editing by Dan Grebler)

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Flirting with Default, Argentina Enjoys Oil Drilling Boom

Holders of Argentina's  defaulted debt and their supporters have warned the country risks being frozen out from international capital markets unless it finds

Mexico's Senate OKs Bills Expanding Power of Energy Regulators

Mexico's Senate gave general approval on Monday to legislation laying out expanded powers for energy regulators, part of the fine print needed to implement a constitutional

South Korea Police: Body May Be Ferry Disaster Fugitive's

South Korean police are trying to confirm the identity of a body they believe may have been the fugitive head of the family that owned the operator of a ferry that capsized in April,

Tanker Trends

Libya Reaches Deal to Reopen Brega Oil Port

Libya state oil company National Oil Corp (NOC) has reached a deal with security guards to end a protest at eastern Brega oil port, which is expected to allow the terminal to reopen on Tuesday,

Tankship Market & Return of Contango: Analysis

This week, the Brent price curve moved into contango on what was reported to be short-term physical oversupply. In their latest 'Tanker Opinion', Poten & Partners

Bug-O Sees Increased Demand for Zipper Welder

The zipper welder has been in the Bug-O repertoire for quite some time, but the company said it has recently seen a larger demand for it due to increased tank production worldwide.

Energy

NJ Congressmen Supports Offshore Wind Proposal

Congressman Frank Pallone has issued the following statement in response to the Department of the Interior’s announcement of the proposed lease sale for nearly 344,

Wärtsilä's JV with CSSC to Expands Engines Range

Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines.

Flirting with Default, Argentina Enjoys Oil Drilling Boom

Holders of Argentina's  defaulted debt and their supporters have warned the country risks being frozen out from international capital markets unless it finds

News

Wärtsilä's JV with CSSC to Expands Engines Range

Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines.

Flirting with Default, Argentina Enjoys Oil Drilling Boom

Holders of Argentina's  defaulted debt and their supporters have warned the country risks being frozen out from international capital markets unless it finds

Sembawang Shipyard to Convert 2 FPSOs for Kaombo Project, Angola

Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured a Floating Storage Production Offloading (FPSO) conversion contract worth about S$600 million from Saipem SA,

Marine Equipment

Singapore Approves Danelec New-Generation VDR

The Maritime and Port Authority of Singapore has issued a certificate of approval for the Danelec DM100 VDR for installation on ships under the Singapore registry.

New Keel Cooling Option for Diesel Engines

Volvo Penta of the Americas today announced the availability of a keel cooling option with D4 and D6 marine diesel engines to meet customer demands in the North American marine commercial market.

Yara Names Brandtzæg New CEO

The board of directors of Yara International today announced the appointment of Svein Richard Brandtzæg as the company's new President and Chief Executive Officer.

People in the News

Unplanned Encounters Discussed at Navy CNO's China Meeting

Chief of Naval Operations (CNO) Adm. Jonathan Greenert has left the People's Republic of China (PRC) after a successful four-day counterpart visit with military leaders,

NJ Congressmen Supports Offshore Wind Proposal

Congressman Frank Pallone has issued the following statement in response to the Department of the Interior’s announcement of the proposed lease sale for nearly 344,

Greenbrier Condoles the Passing of Emeritus Board Member Atiyeh

The Greenbrier Companies, Inc. says it joins all of Oregon in expressing its condolences to the family of Victor G. (“Vic”) Atiyeh, former Governor and past member of Greenbrier’s board of directors.

Government Update

NJ Congressmen Supports Offshore Wind Proposal

Congressman Frank Pallone has issued the following statement in response to the Department of the Interior’s announcement of the proposed lease sale for nearly 344,

Panama Canal: New Lock Gates Transferred to Atlantic Side

ACP informs that the Panama Canal Expansion has reached another important milestone with the transfer of the first gates to the new locks complex in the Atlantic side.

Mexico's Senate OKs Bills Expanding Power of Energy Regulators

Mexico's Senate gave general approval on Monday to legislation laying out expanded powers for energy regulators, part of the fine print needed to implement a constitutional

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1289 sec (8 req/sec)