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CARBON TAX ON BUNKER FUEL
IMO is looking at a global levy (tax) on marine fuels. Do you think this is

a really good idea
an unfortunate necessity
a bad idea
a really bad idea

Marine Log

June 12, 2008

General Maritime unit indicted in pollution case

General Maritime Corporation has disclosed in an SEC filing that a subsidiary, General Maritime Management (Portugal) LDA was indicted on June 12, 2008 by a federal grand jury in Corpus Christi, Texas for alleged violations of law concerning maintenance of books and records with respect to the handling of waste oils on the Genmar Defiance, one of the company's wholly-owned Aframax vessels.

The chief engineer and the first engineer of the vessel were also named as a co-defendants in the indictment. The indictment relates to a previously disclosed U.S. Department of Justice investigation that began in November 2007 regarding the handling of waste oils on the Genmar Defiance.

The company says in the filing that it "regrets that these charges have been brought by the government against GMM Portugal and believes that they are based upon inaccurate information provided to the government. The charges against GMM Portugal are based upon asserted vicarious liability for actions on the part of its employees. GMM Portugal intends to continue to cooperate with the government as appropriate. If this matter results in a trial, GMM Portugal intends to defend any charges vigorously."

The filing says that the "company remains committed to being a responsible international seaborne crude oil transportation services company and to maintaining the highest levels of operational standards on board its vessels. The company has implemented a strict environmental protection program and considers high quality technical operations across the fleet a top priority."


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