1. Huge Prestige Award
On Wednesday, a court in the city of La Coruña awarded the Spanish government a total of $1.9 billion in damages for the 2002 oil spill from the tanker "Prestige", which broke up and sank after she was refused entry to a harbour of refuge. The London Club is obligated to pay $1 billion of this amount, and shipowner Mare Shipping and the IOPC Funds are responsible for the balance, according to the Telegraph. A spokesman for the London Club said that the insurer "remains concerned at the direction that the Spanish court has taken generally."
Danish shipowner Torm has announced plans to file for registration with the US Securities and Exchange Commission today for a direct share listing on the Nasdaq Stock Market in New York. The Nasdaq listing is expected to be completed before the end of the year, leaving Torm common shares to be traded in both Copenhagen and New York. Jacob Meldgaard, executive director at Torm, commented: “In 2016, we took the first step towards a US listing when we implemented the Corporate Reorganization and established TORM plc. A US listing is the natural next step for TORM.”
A new ferry in Sydney, Australia, will be named Ferry McFerryface. A naming competition saw most voters actually choosing Boaty McBoatface, a name proposed for the U.K.’s new research vessel. However, the name was rejected for being unoriginal. New South Wales state Minister for Transport and Infrastructure Andrew Constance is responsible for the decision. "Ferry McFerryface will be the harbor’s newest icon, and I hope it brings a smile to the faces of visitors and locals alike. This one is for the kids." More than 15,000 name suggestions were made, and some were even more bizarre.
Capitalism, globalisation and international collaboration spread prosperity and growth – and shipping has a vital role to play in this process, Guy Platten, CEO, UK Chamber of Shipping said in his address to the annual Scottish Shipping Benevolent Association (SSBA) dinner in Glasgow last night. A press release from UK Chamber quoted Guy Platten as saying: "Even though the world has never traded more, it seems like once again we have to defend trade, free markets and capitalism itself from those who would seek to tear them down," the UK Chamber CEO said.
Senator John McCain, chairman of the Senate Armed Services Committee, called for the Navy to reduce the gruelling workloads it places on many overseas-based surface warfare officers. He also challenged Congress to budget for the resources that the military needs in order to reduce the growing pressure on servicemembers. "I look you in the eye and tell you a 100-hour work week is too long for a young member of our armed forces,” he said. "They are working 100-hour weeks. It has to stop. Otherwise you’ll see more tragedies such as took place with recent collisions.”
Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions www.seacurus.com
Registered in England No. 5201529
Telephone: +44 191 4690859
Facsimile: +44 191 4067577
Registered Office: Suite 3, Level 3,
Baltic Place West, Baltic Place,
South Shore Road,
This message, and any associated files, are intended only for the use of the individual or entity to which it was addresses and may contain information that is confidential, subject to copyright or constitutes a trade secret. If you are not the intended recipient you are hereby notified that any dissemination, copying or distribution of this message, or files associated with this message, is strictly prohibited. If you have received this message in error, please notify us immediately.