UMM AL QUWAIN // The Iraqi owner of a ship that sank off the coast of Umm Al Quwain in 2011 has been fined Dh24,000 by the emirate's appeals court.
The White Whale was carrying several hundred tonnes of diesel when it sank on October 22. Its nine crew members, including the captain, escaped on a life boat, eventually reaching land 16 kilometres away.
The Sudanese Captain, identified as FAA, was also fined Dh24,000.
Both the captain and the owner were found guilty of failing to prevent and reduce pollution after the sinking; entering the territorial waters of the state without proper documentation; carrying diesel into the country in an ill-prepared vessel; and carrying diesel without the proper documentation.
A civil case filed by the Ministry of Environment for Dh20 million in compensation for work to salvage the ship and for damage caused to the environment is ongoing in the UAQ civil court.
The White Whale was lying about 30 metres below the surface, 11 nautical miles off the coast of UAQ, about 30 minutes by boat, when it was finally raised in June last year.
According to earlier Ministry releases salvaging the ship cost Dh4.5million.
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What is a calorie?
A food calorie, or kilocalorie, is a measure of nutritional energy generated from what is consumed.
One calorie, is the amount of heat needed to raise the temperature of 1 kilogram of water by 1°C.
A kilocalorie represents a 1,000 true calories of energy.
Energy density figures are often quoted as calories per serving, with one gram of fat in food containing nine calories, and a gram of protein or carbohydrate providing about four.
Alcohol contains about seven calories a gram.
How much of your income do you need to save?
The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.
In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)
Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.
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