Cosco Shipping faces $39m 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: Sea Trade Asia)