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 October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Environmental

MSC Approves SOLAS Amendments

SOLAS amendments to make IGF Code mandatory approved by Maritime Safety Committee   The International Maritime Organization’s (IMO) Maritime Safety Committee (MSC),

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Stena Bulk Joins World Ocean Council

Stena Bulk reports it is the first Swedish shipping company to join the World Ocean Council (WOC), a global organization that converges a diverse range of maritime

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2910 sec (3 req/sec)