Italian Pleads Guilty to Marine-hose Price-fixing in US

Posted by Eric Haun
Thursday, April 24, 2014
Photo courtesy Dunlop Marine and Oil

A former executive of Parker ITR Srl pleaded guilty on Thursday to conspiring to rig bids for marine hose and was sentenced to two years in prison, the U.S. Justice Department said on Thursday.

Romano Pisciotti, who is Italian, had been flown into the United States from Germany in early April in the first extradition on charges of breaking antitrust law, the department said.

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

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.

(Reporting by Diane Bartz; Editing by Phil Berlowitz)


People & Company News

MN100: McDonough Marine Service

The Company: Bernard P. McDonough created the company in 1945 by leasing barges from his construction company into the marketplace. Through a series of new and used barge additions,

MN100: MarineCFO

The Company: Founded in 1992, UA Business Solutions was a pioneer in the field of Enterprise Resource Planning (ERP) and an early Microsoft Partner. The ERP evolution

MN100: All American Marine, Inc.

The Company: All American Marine Inc. was founded in 1987 and specializes in the construction of custom tailored aluminum boats from 30 to 150 feet LOA. Today,

Legal

El Faro Captain Ordered Crew to Abandon Ship before Sinking

The captain of the doomed El Faro cargo ship sounded an alarm for his crew to abandon the vessel shortly before it sank last fall in a hurricane near the Bahamas, killing all 33 onboard, the U.

Foreship Establishes Tallinn Subsidiary

Naval architect and marine engineering company Foreship has created a wholly-owned subsidiary located in Tallinn to strengthen ties with shipowners, shipyards and

UASC's Dismal Performance

United Arab Shipping Company (UASC), which is close to merging with Hapag-Lloyd, revealed enormous deficits and a massive debt in its key financial figures, says Alphaliner.

Tanker Trends

Navy Discovers Malaysian Tanker

Indonesia's navy has found a tanker carrying almost US$400,000 worth of diesel that was taken by its own crew last week due to a commercial dispute, says a report in AFP.

Big Tankers' Need for Retrofit Slows Use of New Panama Canal

The promise that some oil traders and brokers saw for an expanded Panama Canal to become a new route for large tankers will take longer to realize than expected

Pressure Mounting on VLGCs Rates - Drewry

A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

News

Former HMS Illustrious Sold for Scrap

The former aircraft carrier HMS Illustrious will be recycled after 32 years of service, announced the U.K. Ministry of Defense (MOD) who sold the ship to Turkish

Tuco’s New Arctic Workboat to Debut at SMM

Danish producer Tuco Marine said it will reveal a new Arctic workboat daughter craft at next month’s SMM in Hamburg.   Many arctic patrol vessels, icebrakers

El Faro Captain Ordered Crew to Abandon Ship before Sinking

The captain of the doomed El Faro cargo ship sounded an alarm for his crew to abandon the vessel shortly before it sank last fall in a hurricane near the Bahamas, killing all 33 onboard, the U.

Marine Equipment

J.F. Lehman Acquires Heavy Equipment Group of Oldenburg Group

J.F. Lehman & Company (“JFLCO”) has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.

Wärtsilä Re-gasification system for Norwegian Ship Conversion

Wärtsilä has been contracted to supply the re-gasification system for an FSRU (Floating, Storage, Re-gasification Unit) conversion project that Höegh LNG plans to carry out on a modern LNG vessel.

Foreship Establishes Tallinn Subsidiary

Naval architect and marine engineering company Foreship has created a wholly-owned subsidiary located in Tallinn to strengthen ties with shipowners, shipyards and

People in the News

J.F. Lehman Acquires Heavy Equipment Group of Oldenburg Group

J.F. Lehman & Company (“JFLCO”) has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.

Wärtsilä Re-gasification system for Norwegian Ship Conversion

Wärtsilä has been contracted to supply the re-gasification system for an FSRU (Floating, Storage, Re-gasification Unit) conversion project that Höegh LNG plans to carry out on a modern LNG vessel.

New Crane Orders for Huisman

Huisman has secured new crane contracts with a total value of around 300 million Euro from various major offshore, shipping and wind farm installation contractors: •

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.2365 sec (4 req/sec)