Tote Maritime Settles with Three More Families

first_imgzoom Tote Maritime, owner of the ill-fated El Faro cargo ship that sank in October 2015 together with its 33 crew members, has reached a settlement with the families of three more deceased crew members, the company said in a filing with Florida District Court.According to TOTE, this brings the total of settled cases to 21 of the 33 wrongful death claims, with ten of them reached in January, four in March and four more in April.All three claimants have agreed on USD 500,000 each in damages plus an agreed upon amount for pecuniary (economic losses).The specified claimants include: Rochelle Hamm, as personal representative of the estate of Frank Hamm, Marlena Porter, as personal representative of the estate of James Phillip Porter and Alexis Parker, as personal representative of the estate of Roosevelt Lazarra Clark.The latest settlements have been reached following the second round of hearings conducted by the USCG Marine Board of Investigation into the causes of the sinking.As part of the latest hearings into the loss of the 40-year-old vessel that completed last week, the board heard that El Faro was sailing with outdated weather forecasts when it encountered Hurricane Joaquin near the Bahamas along with several testimonies related to the ship’s stability and cargo security.World Maritime News Stafflast_img read more

Glencore selling 10 per cent of agri business to BC fund for

Glencore selling 10 per cent of agri business to B.C. fund for US$625 million by The Canadian Press Posted Jun 9, 2016 7:51 am MDT Last Updated Jun 9, 2016 at 9:00 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TORONTO – Glencore PLC says the British Columbia Investment Management Corp. will pay US$624.9 million cash to buy about 10 per cent ownership in the Swiss company’s agricultural products division, which includes the Viterra grain-handling business.It’s the second time this year that the Swiss multinational has sold a major piece of Glencore Agri to a Canadian retirement fund manager.It announced in April that Canada Pension Plan Investment Board would buy 40 per cent of the agriculture products business for US$2.5 billion.As a result of the sale of 9.99 per cent to BCIMC, Glencore will own 50.01 per cent of the global agricultural products business, Glencore announced from Baar, Switzerland.Glencore bought Viterra in late 2012 for C$6.1 billion, as the Swiss global commodities trader expanded its presence in agricultural products. It later sold portions of Viterra’s business operations to two Canadian companies.Glencore Agri currently has operations in Canada, Australia, South America and Europe and employs more than 12,000 people read more