Altera Infrastructure has been slapped with a hefty $747,000 fine in Norway as a result of a protracted legal battle concerning the disposal of two vessels in India.
This penalty follows a four-year investigation that commenced with the raid of the offices of what was then Teekay Offshore.
Altera Infrastructure is mulling over the possibility of contesting the ruling.
The heart of the matter revolves around the fate of two shuttle tankers – the Navion Britannia and the Alexita Spirit – which were dispatched for recycling in India back in 2018. Prosecutors alleged that the ships were unlawfully beached in India, while Altera maintains that the chosen yards adhered to the standards laid out in the Hong Kong Convention, the widely acknowledged benchmark for recycling.
Per Norwegian regulations, Altera now has a fortnight to determine whether it will comply with the verdict.
