Nordic American Tankers (NAT) today announced that an arbitration panel in London has ruled in favour of NAT. Gulf Navigation Holding PJSC (GulfNav) was the other party in the arbitration. The case relates to the 6 year bareboat charter with GulfNav of the Suezmax vessel Gulf Scandic (now named Nordic Harrier) covering the period from 2004 to 2010.When the vessel was redelivered to NAT by the charterer in October 2010, it was in very poor technical condition.The vessel had not been technically operated according to sound maintenance practices by the charterer. NAT had the vessel repaired in the autumn of 2010/spring 2011, and made a claim against GulfNav for costs incurred. A London arbitration panel awarded the Company $10.2 million plus direct costs and calculated interest.
Film Nova Scotia and the Independent Production Fund have partnered on a pilot program to support web-based media production. Film Nova Scotia is contributing $100,000 to secure two projects for creators and producers of web drama in Nova Scotia. “Broadcasting on the web is experiencing phenomenal growth and brings significant potential for local producers and the province’s economy,” said Ann Mackenzie, president and CEO of Film Nova Scotia. “Exploring and supporting production through new digital platforms is a key priority for us and we are excited to partner with the Independent Production Fund.” In recognition of the evolving broadcast industry, the program will provide equity financing to scripted drama series designed and produced for broadcast on the web. Financing sources have traditionally been limited in this area. “It will be an exciting learning process for all of us,” said Charles Ohayon, Independent Production Fund board chairman. “We will help develop best practices to take advantage of the opportunities that digital platforms provide for new production styles, processes, formats and business models.” The Independent Production Fund is inviting proposals for online drama series until March 31. Regulations will be minimal to encourage innovation and experimentation. Projects must be webcast on Canadian-owned websites first to create more content for Canadian portals. Further information and requests-for-proposal guidelines are available at www.ipf.ca . The Independent Production Fund was established in 1991 and has invested more than $50 million in 229 television drama series and more than 300 professional development projects. It is a private foundation with charitable status and operates on interest generated by its $35-million endowment and funds recouped from project investments. An independent board of directors oversees operations and makes all funding decisions. Film Nova Scotia is a provincial Crown corporation. It provides a wide range of programs and services to build the capacity and competitiveness of the province’s film, television and new media industry. The provincial film industry is the fourth largest in Canada, regularly exceeding $100 million in economic activity annually.
GATINEAU, Que. — The federal broadcast regulators will take a look at the educational aspect of the Oprah Winfrey Network Canada to determine if it is meeting its licence requirements of broadcasting educational content.The Canadian Radio-television and Telecommunications says it will hold a hearing next Tuesday looking into whether the network’s shows are educational enough to meet its mandate.Media company Corus Entertainment Inc. has the licence for the Oprah Winfrey Network Canada channel.That channel used to be the Canadian Learning Television channel until it was rebranded as VIVA, a women’s entertainment channel and then rebranded as Oprah Winfrey Network in March 2011.The CRTC says OWN was originally approved as the Canadian Learning Television channel and is required to provide formal and informal educational programs that generally focus on adult education.The CRTC recently killed the $3.4-billion friendly take-over deal by Bell to acquire Astral Media, saying it wasn’t in the best interests of Canadians.The Canadian Press