RESO Garantia pays $605,000 in connection with vessel grounding

Insurance company RESO Garantia has paid $605,000 in connection with the case when dry cargo carrier Volgo-Balt 150 owned by Rota Ship Management SA ran aground in the Black Sea near Turkey, Insurance Today reports. According to the source, the insurer has reimbursed for expenses related to rescue and repair of the vessel.

Volgo-Balt 150 ran aground on September 26, 2008 and was severely damaged. To rescue the vessel a contract was concluded with Turkish specialists which brought the vessel afloat on October 16 and tugged her to the port of Tuzla on October 22.