National Fisherman


A federal judge has given final approval to BP's settlement with a bulk of businesses and individuals who lost money because of the 2010 oil spill in the Gulf of Mexico.

BP PLC has estimated it will pay $7.8 billion to resolve economic and medical claims from more than 100,000 businesses and individuals hurt by the nation's worst offshore oil spill. The settlement has no cap; the company could end up paying more or less.

U.S. District Judge Carl Barbier, who gave his preliminary approval in May, made it final in a 125-page ruling released Friday evening.

"None of the objections, whether filed on the objections docket or elsewhere, have shown the settlement to be anything other than fair, reasonable, and adequate," he wrote.

Read the full story at Claims Journal>>

Inside the Industry

Legislators from Connecticut and Massachusetts complained about the current “out-of-date allocation formula” in black sea bass, summer flounder and scup fisheries in a letter to the U.S. Department of Commerce earlier this week.

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The Southeast Alaska Fishermen’s Alliance recently announced that the National Marine Sanctuary Foundation has awarded the organization a Hollings Grant to reduce whale entanglements in Alaska salmon fisheries by increasing the use of acoustic whale pingers to minimize entanglements in fishing gear.

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