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HSH Nordbank got most of the money from vessel that caused uranium spill

The Saskatchewan mining company Cameco will not get any money from the sale of the then "MCP ALtona" that once had a uranium spill at sea — and that it spent millions cleaning up. According to a recent Federal Court decision, a German bank that held a mortgage on the vessel will get most of the $4.6 million raised when it was sold. In January 2011, the ship was hauling 840 drums of Saskatchewan uranium worth $33 million from Vancouver to China. The customer was a Chinese power utility that needed the uranium for nuclear power plants. Halfway across the Pacific, the ship ran into rough weather. Three drums popped open in the hold and uranium ore concentrate spilled out. The uranium stayed in the hold and nothing spilled into the sea, but the ship turned around and went home. It took $8 million to take the cargo out and clean up the spill. The uranium was sent back to where it came from — Cameco's Key Lake operation in Saskatchewan. The owner of the vessel went bankrupt in the following jurisdicial dispute, and it was sold for $4.8 million.The Chinese power utility that had bought the uranium got a fresh batch later in 2011. When the ship was sold, Cameco wanted to recoup some some of its money and turned to the courts. In a recent decision Cameco's Claim was rejected saying the bank, HSH Nordbank AG, would get most of the sale money. Cameco won't appeal this decision, but hopes to get some money another way. The ship meanwhile, is back in action. It has been renamed "Meratus Palembang" and an Indonesian company now owns it.

Former MCP Altona leaves North Vancouver after being sold

A freight ship that sparked concern among some residents of North Vancouver’s waterfront for its connection to a radioactive spill has left its anchorage in Indian Arm. MCP Altona, which has been anchored off the Dollarton neighbourhood since the spring, was escorted by tugboat to the Ballantyne docks on the East Vancouver waterfront Wednesday morning to switch crews and see to other business in the wake of a recent change of ownership. The container vessel had been sitting idle while its former owners and the owners of a one-time cargo duke it out in court over a Uranium concentrate spill that took place onboard late last year. A number of nearby residents have written to the North Shore News in that time voicing concerns over perceived health hazards posed by possible traces of the chemical. The vessel was remediated months ago and given a clean bill of health by federal officials before being moved to the inlet, according to the port. It posed no threat to public health, they said. Read more: http://www.nsnews.com/North+Vancouver+bids+adieu+uranium+ship/5746207/story.html#ixzz1eQCkiQjH

Controversy coming to an end?

The saga of the "MCP Altona" may soon be coming to an end. The ship has been at the centre of controversy dating back to December 2010, when a load of uranium concentrate commonly referred to as yellowcake spilled on board during an accident between Hawaii and the Midway Islands. Ordered back to B.C. waters after the spill, the ship has been sitting off the waters of Belcarra Regional Park for nearly six months. The holding pattern was due in large part to a legal dispute between the Saskatchewan-based company that produced the cargo, Cameco Corp., the ship's owners and other companies linked to the transport. Cameco was seeking about $19 million to recoup its losses from the accident and was waiting for the ship to be bought. None of the allegations have been proven in court. Once the sale is completed, the vessel can be moved from its current location in Vancouver. Now a shipbroker of Compass Marine Services tasked with overseeing the sale of the vessel confirmed that the "MCP Altona" has been sold and would be moved from local waters shortly. The crew is on board.They are just waiting to change the paperwork and to leave. The "MSP Altona"'s problems began in December 2010, when Cameco packed up 350 tonnes of uranium concentrate at its plant in Saskatchewan. The company put the radioactive powder into 840 drums, which it then packed into shipping containers for transport. The cargo was sent to Vancouver and loaded onto the Altona for shipment to China, where it would be processed into nuclear fuel. The ship set sail on Christmas Eve. Somewhere between Hawaii and the Midway Islands, the vessel hit rough weather, and some of the cargo fell over. An unspecified amount of the powder burst out of the drums and into the cargo hold. The crew discovered the mishap several days later. The ship initially tried to stop at Honolulu, but was prevented by the U.S. Coast Guard, which raised con-cerns over the hazardous material. The ship returned to B.C. and anchored at Ladysmith. Late in January, it was moved to the Ballantyne docks in the Port of Vancouver, where Cameco and the authorities oversaw the cleanup. The yellowcake was packed up and sent back to Saskatchewan and the ship was cleaned. The Canadian Nuclear Safety Commission and Transport Canada declared the "MCP Altona" clean and safe in early May 2011. It was moved to Indian Arm as the legal battles got underway. The ship has been inspected by Transport Canada and the Canadian Nuclear Safety Commission.