See story; "2 international shipping firms admit in US Court vessels illegally dumped waste oil." The Nordic Passat was one of the ships. Read the details of the crime in the story. Herbj Hansson, you seem like such a sincere, honest businessman on TV. Shame on you. There is no excuse for dumping waste oil at sea. It is a disgrace. Sold my holdings today.
Why are you pointing your finger at NAT and Herbj? The article reads "The German firm Columbia Shipmanagement and Cyprus-based Columbia Shipmanagement Ltd. agreed to pay a combined $10.4 million penalty, U.S. Attorney Paul Fishman said."
looks like you sold just in time before the price popped. As far as dumping waste oil, my company offloads these big ships of waste oil and waste water. Most of them have sophisticated oil/water separating equipment on board. If its not working properly, they dump. Those big cruise lines dump vast more resources than this. The ocean floor is littered with carnival plastic cups just offshore of those beautiful beaches they put into.
We recycle the oil we get from separating out of wastewater stream. Very profitable on my end. Our prices have come way down. Problem is getting permits, almost impossible. I am usually only one in port. Trying to open up another one in southern cal......yeah, right. Regulators and greens need to keep this in mind when regulating the daylights out of us. We won't open...the result? Dumping at sea. What is alternative? Keeping it onboard that results in taking on less fuel or cargo??? Hope this helps. We are all in this together.
I too am in the marine pollution control business and dumping at sea is a crime. Read the March 21, 2013 Department of Justice, Office of Public Affairs report issued about these cases. "Illegal discharges have been made from the M/T Nordic Passat since 2006 by "tricking" the sensor......." There are countless dozens of other depressed shipping companies out there that I own plenty of. I don't care to participate with an investment of a shipping company that willfully pollutes. That's all. See ya. Last post.
rdiggerg - you need to read your news and the NAT press release. NAT was cleared of any wrongdoing in this instance. The third party manager of the ship was fined in conjunction with the incident on the NAT ship along with 3 other unrelated ships they were managing. It would be like arguing a trucking company is shameful because one of the drivers was caught drink driving.