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International

Spill from tanker to cost oil firms nearly $70 million

October 20, 2017 Reprints

An oil spill from a sunken Greek tanker that polluted four kilometers of the Saronic Gulf coastline is likely to cost oil companies £51 million ($67 million), TradeWinds reported. Greece to submit a plan to the International Oil Pollution Compensation Funds to dispense £26 million in March and the balance at a later date. U.K.-based insurer Lodestar Marine Ltd. said that it plans to establish a limitation fund to cover the shipowner's liability. The vessel owner Agia Zoni II Shipping of Piraeus and its insurers are responsible for paying the first $6.3 million in compensation.

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Spill from tanker to cost oil firms nearly $70 million

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