Dutch reefer owner Seatrade has agreed to pay prosecutors to settle a long-running illegal scrapping case.
The company, and two unnamed directors, will pay the Netherland Public Prosecution Service €2.65m ($2.84m) to end the legal battle over the sale of four reefers into India, Bangladesh and Turkey that contravened the European Waste Shipment Regulation.
Seatrade will also pay a further €3m, representing the amount it earned from the demolition sales
A statement from the prosecutor said management at Seatrade acknowledged it had scrapped the four vessels without complying with the regulation.
