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

Navy

Russian Navy Take Over Crimea Combat Dolphins

The combat dolphin program in the Crimean city of Sevastopol will be preserved and redirected towards the interests of the Russian Navy, according to a report by official news agency RIA Novosti.

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

NATO to bolster defence of E.European Allies

NATO is sending part of its naval rapid reaction force to the Baltic Sea as part of a drive to step up the defence of eastern European allies in response to the crisis inĀ Ukraine,

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0941 sec (11 req/sec)