Report on Implementation of OPA 90

Tuesday, May 17, 2005
The U.S. Coast Guard released its Report on Implementation of the Oil Pollution Act of 1990. Among other things, the report notes that, while the Oil Spill Liability Trust Fund (which now stands at $842 million) is fiscally sound at the moment, it may be depleted in 2009 if current trends continue. A combination of reinstituting the fee on imported oil and indexing liability limits to inflation is a means of resolving this potential problem. The report also notes that the domestic tank barge industry will be impacted if the phase-out date for single hull tank vessels is accelerated. The report was prepared at the direction of Congress. (HK Law).

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Europe-Bound Diesel Diverted to Asia

At least two tankers redirected to Singapore; Vitol floating storage vessel also heading East. Diesel cargoes which had planned to discharge in a heavily-supplied

Ferreira Quits Petrobras

Murilo Ferreira quit as chairman of Brazil's Petroleo Brasileiro SA, the state-controlled oil company said on Monday, without disclosing the reason for his decision.

TORM Orders Four LR2 Newbuildings

TORM has today entered into an agreement to purchase four fuel-efficient LR2 newbuildings from Guangzhou Shipyard International (“GSI”) with expected delivery

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Winch
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: 0.1763 sec (6 req/sec)