The U.S. Maritime Administration (Marad) and several companies have agreed to settle a dispute centering on ownership and sale of three liquefied natural gas tankers. Marad's agreement covering the Arzew, Southern, and Gamma vessels is with units of Royal Dutch/Shell Group, Argent group, and Cabot Corp. Marad acquired the tankers by repossession from subsidiaries of El Paso Corp. Here are key provisions of the settlement: All litigation among the parties will be dismissed with prejudice. Gamma will be sold to Cabot, which will charter it to Nigeria LNG Ltd. on a half-yearly basis after start-up of th...

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