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ICS: Oil Pollution Compensation Regime under Threat

2014-10-14 17:02:15| Oil & Gas - Topix.net

The running of the global regime for compensation from oil pollution from ships may be under threat, due to a decision by governments to wind up the 1971 International Oil Pollution Compensation Fund , says the International Chamber of Shipping , the global trade association for shipowners. At next week's IOPCF meeting in London, ICS, in conjunction with BIMCO and Intertanko, will argue that it is premature to wind up the 1971 Fund when there are still outstanding claims not covered by the current 1992 Fund.

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