IOPCF Issues Update

Wednesday, November 06, 2002
The International Oil Pollution Compensation Funds (IOPCF) issued an Update reporting on its October 2002 sessions of the governing bodies. The 1992 Fund now has 82 members. The 1971 Fund Convention ceased to be in force on May 24, 2002. The Spanish Parliament has authorized the Minister of Finance to sign a global settlement agreement involving the owner of the AEGEAN SEA, the insurer, and the 1971 Fund. The Fund will pay the Spanish Government approximately £24 million. A global settlement has been approved involving the insurer of the NAKHODKA and the 1971 and 1992 Funds for payment in full of all claims. Payment of admissible claims involving the ERIKA will be maintained at the 80% level while claimants take legal action. The Executive Committee has authorized the Director to challenge the owner’s right to limit liability. The Funds have decided to oppose any attempt by the owner of the AL JAZIAH I to limit liability. Source: HK Law
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Environmental

Aberdeen Pupils Peek into Subsea Oil & Gas Technology

Pupils at an Aberdeen primary school were given a rare insight into the depths of the oil and gas industry’s subsea sector after getting to sit in the driving

U.S. Draft Recovery Plan for Threatened Polar Bears

U.S. wildlife managers released on Thursday a draft plan for stemming the decline of polar bears threatened by melting Arctic sea ice linked to global warming,

New Binding Law of The Sea Agreement Advanced

WOC Sustainable Ocean Summit (Singapore, 9-11 November 2015) Will Enable Industry to Organize its Input to this Major New Ocean Treaty Development The U.N.

 
 
Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1312 sec (8 req/sec)