Cosco Shipping faces $39m grounding fine

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

25 Feb 2010

The Guangzhou-headquartered heavylift specialist of the COSCO Group faces a heavy fine from Norwegian authorities following a grounding last year. The 26,800 dwt Full City (pictured), belonging to Cosco Shipping, is facing a fine of US$39m after she dragged her anchor during a storm late last year. The resulting clean up operation was one of the largest in recent Norwegian history and the investigation into the incident has just concluded.

Source: SeaTradeAsia-Online