Cash buyer pays big fine for Norwegian scrap vessel

The ship Tide Carrier, which was arrested in Norway en route to an illegal shipbreaking yard in Pakistan, ended up costing a Singapore-based cash buyer a fine of NOK 7 million. The fine has been paid.

BY DANIEL LOGAN BERG-MUNCH

Published: 14.10.19 at 15:20

Singapore-based cash buyer Wirana Shipping has paid a fine of NOK 7 million (USD 770,000) to the Norwegian police's financial crimes unit, Økokrim.

The fine was concerns the vessel Tide Carrier, which incurred engine failure while sailing through Norwegian waters in February 2017.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

Access all locked articles
Receive our daily newsletters
Access our app

Start a free company trial today

"The challenges we face as an industry require more skills and competencies"

Foto: Lucy Nicholson/Reuters/Ritzau Scanpix

They are a generation of future maritime leaders shaped both by Covid-19 and shutdowns and now by a world filled with tension. Four potential future managers enrolled in the Blue MBA program give their take on why it is important to improve your skills.

Leading shippers prepared to pay 10% extra for sustainable transportation

Shippers are willing to pay more for ”green” transportation if it’s reliable. But they have to state their wishes more clearly, and prices have to be lowered, writes McKinsey in a new report, which provides suggestions for how to accelerate decarbonization.