COURT DENIES MARITRANS? CLAIM FOR DAMAGES FROM OPA 90

COURT DENIES MARITRANSÆ CLAIM FOR DAMAGES FROM OPA 90    The U.S. Court of Federal Claims ruled against a suit by Maritrans that claimed the double hull requirement of the Oil Pollution Act of 1990 constituted 'taking' Maritrans' petroleum barges.
   In the suit, filed in 1996, Maritrans maintained that the forced retirement of its predominantly single-hulled vessel fleet represents a 'taking' under the Fifth Amendment of the U.S. Constitution, which prohibits the taking of property by the government without compensations.
   OPA mandated a phase-out schedule for single-hull tankers and barges
   The Federal Claims Court ruled that while OPA deprived Maritrans of a substantial portion of the value of its vessels, the company had been able to recoup its investment during the period from enactment of OPA until the OPA retirement date. Therefore, the government's ban on further use constituted a non-compensible diminution in value, not a 'taking,' the court added.
   Maritrans is considering appeal.
   'While a favorable outcome would have returned substantial value to our shareholders and provided additional funding for completion of our ongoing rebuild program, the court's ruling will not adversely affect Maritrans' rebuilding program, our financial strength or our outlook for the future,' said Stephen A. Van Dyck, chairman and chief executive officer of Maritrans.