Shipping Cos. To Pay Extra Over Alaskan Oil Spill

Law360, New York (April 28, 2009, 12:00 AM EDT) -- In the second-largest civil oil spill penalty ever recovered by the state of Alaska, the owner and operator of a freighter that spilled 350,000 gallons of oil off the state's coast in 2004 have agreed to pay the state an additional $844,000 on top of the $111 million they have already paid to settle claims related to the massive spill.

The Singapore-based IMC Shipping Co. Pte. Ltd. and Malaysia-based Ayu Navigation will pay a spill penalty of $802,380, as well as an additional $42,318 to settle...
To view the full article, register now.