[EN-SEA] "Cosco Shipping" Faces USD39m Grounding Fine

Oslo: 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 : STA-Online, 25.02.10.