'Rena' Owners Reach Financial Settlement with NZ Government

Press Release
Tuesday, October 02, 2012

The New Zealand Government & Daina Shipping Company settle amount due arising from the container ship's grounding on 5, October 2011.

Keith Manch, Director of Maritime New Zealand, confirmed that Daina Shipping Company will pay $27.6 million to settle the claims of the Crown and public bodies including Maritime NZ, Bay of Plenty District Health Board, Environmental Protection Agency, the Minister of Local Government (signing as the territorial authority for Motiti island), and the New Zealand Transport Agency.

"This was a very complex negotiation given the range of issues and parties involved, and represents a good outcome for New Zealanders," said Mr Manch.  "As with any settlement it is about finding a solution that both sides can live with, and I would like to acknowledge the constructive approach taken by Daina Shipping Company and their continuing commitment to meet their obligations under New Zealand law."

The settlement also recognises that Daina Shipping Company and The Swedish Club (the Rena's insurers) are currently investigating the environmental, social, cultural and economic impacts of different options for dealing with the wreck.  In the event that they decide to apply for, are granted, and use a resource consent to leave part of the wreck in place, Daina Shipping Company will make an additional payment of $10.4 million to the Crown, reflecting their reduced salvage costs.

Konstantinos Zacharatos, on behalf of Daina Shipping Company, said: "We have always sought to work closely with the New Zealand authorities to address all aspects of this serious incident.  This settlement is a vital step forward in our progressive resolution of all the issues, and I want to thank the New Zealand authorities for all of their work that has gone into achieving this outcome."
 

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

Legal

Oil Deal Between Iraqi Kurdistan & Baghdad Welcomed

The United States welcomes an agreement between Iraq's central government in Baghdad and its northern Kurdistan region over the management of oil exports, U.

Canadian Pipeline Expansion Continues

Kinder Morgan Energy Partners said on Friday that crews have resumed survey work related to its Trans Mountain pipeline expansion project in the Vancouver suburb of Burnaby,

Orlando Ashford is President, Holland America Line

Holland America Line announced today that effective Dec. 1 Orlando Ashford will join the company as president to lead the award-winning cruise line's brand and business,

Finance

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

Oil Deal Between Iraqi Kurdistan & Baghdad Welcomed

The United States welcomes an agreement between Iraq's central government in Baghdad and its northern Kurdistan region over the management of oil exports, U.

Nigeria to Cut Petrol Subsidy by Half

Nigeria plans to cut subsidies on petroleum products by half next year after sharp falls in global crude prices, spurred the government to revise its 2015 budget downwards,

Container Ships

Sea Star Line: Equipment Replacement Plan on Track

Company Receives New Refrigerated Containers and Places Order for New Genset Equipment   Sea Star Line, LLC began receiving the first of its new 100 40’ and 45’

October Imports up 9% at Port of Oakland

Containerized imports shipped through the Port of Oakland were up 9.17% in October from a year ago, the port said, citing the surge as the biggest jump in import cargo volume in six months.

Video: Reefer RoRo Ship Design Rebooted

Expanding on the Reefer RoRo Ship design release in September last year, naval architects group Knud E. Hansen A/S has continued the development of the new Reefer RoRo Ship design with version II.

Casualties

7 Rescued from Sinking Freighter Near Haiti

Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday.

Update: Explosion in the Gulf of Mexico

An explosion occurred aboard a production platform Thursday at West Delta 105, operated by Fieldwood Energy, resulting in one fatality and three injured. The Bureau

BSEE Responds to Explosion in Gulf of Mexico

The Bureau of Safety and Environmental Enforcement (BSEE) is responding to an explosion at West Delta 105 in the Gulf of Mexico, approximately 12 miles off the coast of New Orleans.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0959 sec (10 req/sec)