Court Denies WQIS Motion for Injunction

MarineLink.com
Wednesday, January 29, 2014

A New York State Supreme Court Judge has ruled against WQIS in a dispute involving the marine pollution insurance arena.

According to Safe Harbor, this is the second ruling against WQIS in its attempt to prevent start-up Safe Harbor Pollution Insurance from entering the insurance space where WQIS has been the dominant market for the past 40 years.

In a prepared statement, Safe Harbor President Michael Falvey stated, "We are pleased with the decision, and that the Court saw WQIS's 'evidence' for what it was—insufficient." Russell Brown, Principal of Safe Harbor, also in a prepared stattement, added that he was pleased with the Court's ruling and is looking forward to building the finest marine pollution insurance company without the threat of continual legal issues.

 

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

People & Company News

Transocean Prices Initial Public Offering

Transocean Partners LLC, a Marshall Islands limited liability company formed by Transocean Ltd., has announced  the pricing of its initial public offering of 17,

Nordic American Offshore Declares 2Q Dividend

Nordic American Offshore Ltd. announced that its Board of Directors has declared a dividend of $0.45 per common share for the second quarter 2014. This is the same as for the first quarter 2014.

Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient.

Legal

Former MSC Manager Sentenced on Bribes Charges

Former Afloat Programs Manager at the United States Navy Military Sealift Command (MSC), Kenny E. Toy, was sentenced to 96 months in prison for receiving bribes, the U.

FERC Approves Freeport LNG Export Project

U.S. federal regulators on Wednesday approved construction of Freeport LNG Development LP's liquefied natural gas export project in Texas. Freeport is the third U.

Kurdish Crude Lightered, Destination Unknown

Part of a Kurdish oil cargo has been offloaded from a Greek-managed tanker into another tanker in the South China Sea, but mystery surrounds the identity of the

Environmental

Quality hat-trick for GAC Marine Logistics

Global ship spares logistics provider GAC Marine Logistics Inc. (GML) has secured ISO certifications in recognition of its Quality Management, Environmental

BMT Oceanica Wins Major Water Corporation Bid

Marine and coastal environment specialist, BMT Oceanica (BMT), a subsidiary of BMT Group Ltd, is delighted to announce that it has won the bid to provide Ocean

First Panels Installed at Australia’s Biggest Solar Plant

The Australian Renewable Energy Agency today celebrated a major milestone with the installation of the first solar panels at AGL’s large-scale solar plant in Nyngan, NSW.

Casualties

Pumps Reach Sinking Shrimper Just in Time

A commercial fishing vessel from Brownsville is slowly making its way back to port, thanks to some quick actions by its crew and Coast Guard units, informs the US Coastguard,

Company Fined for Oil Spill Near Anacortes

Ecology issues $112,500 penalty for sunken vessel.   American Gold Seafoods faces a $112,500 penalty for an oil spill caused by the accidental sinking of its vessel,

Grounded Freighter Refloated in Lake St. Clair

The Federal Rideau, a 656-foot freighter that had been hard aground in the downbound shipping channel of Lake St. Clair since early Sunday morning, was refloated

News

Redwood City Sees Cargo Movement Boost

Port of Redwood City reports 19% increase in cargo movement; highest since 2006 and third highest in modern history Reflecting a significant increase in construction

Montreal Could Become an Oil Export Hub

Montreal has emerged as an export base for Western Canadian heavy sour crudes as prospects to construct new pipelines to the British Columbia coast, Eastern Canada and U.

UK Oil Imports Exceed Exports for First Time in 30 Years

Britain imported more oil products than it exported last year for the first time in 30 years, an official report shows, and analysts say the country is likely to

 
 
Maritime Contracts Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.1460 sec (7 req/sec)