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Analysis: Implications for shipping in BP settlement, indictments

Regulatory/Transport

Friday, November 16, 2012

The U.S. government's criminal prosecution of BP and several of employees has significant implications for the shipping industry, underscoring the importance of adhering to safety practices and potential criminal liability of individuals if an accident occurs. BP Exploration and Production Inc. (BP) agreed Thursday to plead guilty to felony manslaughter, environmental crimes and obstruction of Congress and pay a record $4 billion in criminal fines and penalties for its co...

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