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Cargo Ship Owner Will Pay $2M For SF Bay Oil Spill

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Mar 2, 2008 7:29 pm US/Pacific

Cargo Ship Owner Will Pay $2M For SF Bay Oil Spill

 Slideshow: SF Bay Oil Spill |  Complete Spill Video Coverage
SAN FRANCISCO (CBS 5 / AP / BCN) ― Agents for the owner of a cargo ship that dumped 54,000 gallons of oil into San Francisco Bay have agreed to pay the city of San Francisco $2 million for damages caused by the spill.

City Attorney Dennis Herrera said the agreement announced Sunday was an "initial payment" to cover the costs of the Nov. 7 crash, not a final settlement.

Thousands of birds died, oil-fouled beaches were closed, and Northern California's crabbing season was delayed after the 900-foot Cosco Busan sideswiped the Bay Bridge, cutting a huge gash in its hull.

Herrera said the money would go toward recouping the city's cleanup costs immediately following the spill.

The agreement was reached with Hudson Marine Management Services of Pennsauken, N.J., acting on behalf of the ship's Hong Kong-based owner, Regal Stone Ltd.

The agreement does not preclude the city from recovering further funds for damages, according to Herrera's office. Further funds may be received by the city for loss of revenue from the closure of recreational areas such as beaches, parks and other facilities surrounding the Bay.

(© CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press and Bay City News contributed to this report.)

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