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arrived Chittagong anchorage 09.01.17

$11 Million Demand for Cosco Busan Crash

Insurers want $11.2 million from the owner and operator of the Cosco Busan, which smashed into the San Francisco Bay Bridge in 2007 and dumped 53,000 gallons of oil into the bay. Lead plaintiff A.I. Marine Adjusters and nine other insurers claim the defendants incorrectly forced them to pay for a share of losses from the widely covered accident. They sued Hong Kong-based Regal Stone, which owns the Cosco Busan; Fleet Management, which managed the ship and its crew; and its pilot John Cota, on April 10 in Federal Court. "Regal Stone's failure to provide a seaworthy vessel was a direct and proximate cause of the Cosco Busan's allision with the San Francisco Bay Bridge ... and precluded Regal Stone from declaring a 'general average event' and, therefore, from demanding security," the insurers say. An allision is a moving object striking a stationary one. After the ship struck the fender of a Bay Bridge tower on Nov. 7, 2007, the insurers say, Regal Stone called it a "general average event" and required owners of cargo or their insurers to pay a security to offset potential losses. http://www.courthousenews.com/2015/04/15/11-million-demand-for-cosco-busan-crash.htm