Rena insurers to "meet their obligations in full" in dealing with aftermath

Wednesday 19th October 2011

Insurers for the container vessel Rena have promised to “meet its owner’s obligations in full,” according to a statement from the ship’s owners, Costamare Inc.

Rena is covered by a policy which includes pollution liabilities through international maritime insurer the Swedish Club.

Costamare inc. says it deeply regrets the accident and will do everything it can to minimise the effects of the pollution. The company also thanked authorities, salvors, and experts on site working to salvage the vessel along with its cargo and fuel oil.

The statement comes as Rena’s captain and navigator officer are remanded on bail until Nov. 2 after appearing in court earlier today on charges under section 65 of the Maritime Act for "operating a vessel in a manner causing unnecessary danger or risk."

Conditions at sea continue to hamper efforts to pump oil from the ship, which has been stranded on Astrolabe reef off the coast of Tauranga since Oct. 6.

BusinessDesk.co.nz

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