Genesis Seatrading Corporation News

Rio Gold - Ilegal Dumping Sentence

United States Attorney Joseph P. Russoniello announced that Casilda Shipping, Ltd., the Maltese company that owned the Rio Gold (a 23,000 ton ocean-going cargo ship registered in Malta); Genesis Seatrading Corporation, the Greek operating company; and Mr. Pantelis Thomas, the vessel’s Chief Engineer and a citizen of Greece, all pleaded guilty and were sentenced last week for conspiring to falsify waste oil disposal records related to the intentional disposal of waste oil into the ocean while in international waters. Casilda Shipping, Ltd., was sentenced to pay a fine of $750,000 and to serve three years of probation. Genesis Seatrading Corporation was sentenced to serve three years of probation and to comply with an extensive three-year Environmental Compliance Plan. Mr.