Cosco Busan owners pay $80M to leave

Today's departure of the Cosco Busan container ship, which caused a major San Francisco Bay oil spill when it struck a tower of the Bay Bridge Nov. 7, came only after the owners posted nearly $80 million for a surety bond, the California Department of Fish and Game said.

The $79.5 million bond was posted with the U.S. government early this week and represents the value of the vessel, according to the Department of Fish and Game. It does not, however, put a cap of the damages that may be recovered for the impacts of the spill.

“Our investigation into the incident continues and will not be impeded by the vessel leaving the area,” said Fish and Game Acting Director John McCamman. “While there is no basis for the sate to retain the ship, we have the full support of Gov. Schwarzenegger in determining the cause of this tragic incident and holding the responsible party accountable for the short- and long-term damages to the wildlife and habitat resources impacted by the spill.”

The Cosco Busan met the state law that requires vessels to have a $300 million insurance policy. Additionally, claims for damages regarding oil spills in California may be made directly to the responsible party's

representatives without the need for formal litigation, according to Fish and Game.

The ship today had departed for Korea after receiving repairs to its damaged hull.

  Bay City News

Just Posted

Slow to reform, SFPD touts lack of police shootings as sign of progress

Department has completed about 10 percent of federal recommendations for improvement

SFPD issuing fewer life-saving traffic tickets because of ‘additional paperwork’

In August, Mayor London Breed and traffic safety watchers blasted San Francisco… Continue reading

PG&E to use state support, aircraft to minimize impact of power shutoff

PG&E has accepted an offer of technical assistance and aircraft to help… Continue reading

Transbay BART tube reopens after service halted by sparks during rush hour

Sparks near the transbay tube prompted BART to halt some service between… Continue reading

BART: busking ban on trains may be legal despite opposition, free speech concerns

When BART board director Debora Allen first floated her proposal to ban… Continue reading

Most Read