Norway Urged to Ratify HNS Convention 1996

Wednesday, February 09, 2005
A recent report from the Permanent Norwegian Law Commission for Maritime Matters has recommended that Norway ratifies the HNS Convention 1996. The Convention, which concerns liability for damage caused by hazardous and noxious substances, such as LPG and LNG gas, carried by sea, will make it easier for injured parties to claim compensation directly from the liability insurers. "Under Norwegian marine insurance law, third parties may, in practice, only commence direct action against the liability insurers if the insured is insolvent. However, under the HNS Convention the right to commence action against liability insurers is not subject to this precondition," says Gaute Gjelsten, newly-appointed partner at Oslo-based law firm Wikborg Rein. The HNS Convention contains considerably higher limitation amounts than those under the 1976 Limitation Convention as amended by the 1996 Protocol. "As an example, under the global limitation rules a 40,000 gross ton vessel would give a limitation fund amounting to approximately $21,700,000 for property damage. Under the HNS Convention the same vessel would have a limitation amount of approximately $95,700,000," explains Gjelsten. Compensation under the HNS Convention is expected to come primarily from shipowners and their liability insurers. A compensation fund will be established for those instances where liability extends beyond the limitation amounts for shipowners and their insurers. The fund will be financed by the receivers of HNS cargo through a tax payable to the fund.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

USNS Ship Rescues Nine in Gulf of Oman

'USNS Richard E. Byrd' (T-AKE 4), a Lewis and Clark-class dry cargo ship, rescued 9 crew members from a Yemeni-flagged cargo vessel 'Asaed' that had lost power,

HMS Prince of Wales Delivery Begins

A huge section of hull for HMS Prince of Wales, the second aircraft carrier being delivered to the Royal Navy, has today departed BAE Systems in Glasgow on a 600-mile

Today in U.S. Naval History: July 28

Today in U.S. Naval History - July 28 1915 - Sailors and Marines land in Haiti to restore order 1916 - Navy establishes a Code and Signal Section which initially

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0934 sec (11 req/sec)