Oil Pollution Act 1990 News

Current issues in marine salvage: the ISU perspective. There have undoubtedly been great improvements in ship and operational safety in the past decades. SOLAS, the international Convention for the Safety of Life at Sea, has been in force for more than 30 years and has played a large part reducing the incidence of marine casualty. But accidents and incidents cannot be entirely eradicated and the potential for marine casualty – and pollution – remains present in all territories.

Jones Day has advised long-standing client J.F. Lehman & Company, a mid-market private equity firm focused on the defense, aerospace, and maritime sectors, in connection with the £32 million (approximately $50 million) acquisition and related financing of the UK, Spanish, German and Australian marine distress signals business of Chemring Marine, which designs and manufactures SOLAS and MED approved products including hand flares, linethrowers, smoke-signals, manoverboards and parachute rockets from various companies within the Chemring group, including Chemring Group Plc. The financing consisted of a secured credit facility including term loans and revolving loans. In the last eight months, Jones Day has also advised J.F.

American P&I Club advises the US Coast Guard (USCG) will require compliance with new Alternative Planning Criteria (APC) for certain vessels operating in Western Alaska. Last year the Alaska Marine Exchange published proposals for new Alternative Planning Criteri which have now been finalized. Historically, it has not been possible for tank owners operating in Western Alaska carrying oil to comply fully with the vessel response planning requirements of the Oil Pollution Act 1990. In consequence, the USCG allowed waivers in respect of these requirements. That has now changed: with effect from May 14, 2012, oil tank vessel owners and owners…

On July 22, Luke Readman, Chairman of Thomas Miller P&I Ltd, will retire after nearly forty years of service to the Members of the UK P&I Club. He hands over leadership to current chief executive Hugo Wynn-Williams, who will be supported by deputy chairman Nigel Carden. Readman became renowned in the P&I industry as an oil pollution specialist after handling major claims for the UK Club such as the 230,000dwt VLCC Haven, which caught fire and sank off Genoa in 1991. The case was finally resolved by a tri-partite settlement agreement between the Italian State, the IOPC Fund and the Owners/Club.

The 13 P&I Clubs within the International Group continue to dominate the world market for shipowners' liability insurance despite increasing competition in recent years from fixed premium facilities. The development of the fixed premium market and, in particular, the rapid growth of the P&I account of the marine and energy syndicate 329 at Lloyd's led by Jonathan Jones, served to increase pressure on premium rating in recent years. However, syndicate 329 is now in run-off, its capital providers having withdrawn support, and its P&I account, which was transferred to British Marine, an old-established P&I and hull club for small ships and offshore craft…

The 13 P&I Clubs within the International Group continue to dominate the world market for shipowners' liability insurance despite increasing competition in recent years from fixed premium facilities. The development of the fixed premium market and, in particular, the rapid growth of the P&I account of the marine and energy syndicate 329 at Lloyd's led by Jonathan Jones, served to increase pressure on premium rating in recent years. However, syndicate 329 is now in run-off, its capital providers having withdrawn support, and its P&I account, which was transferred to British Marine, an old-established P&I and hull club for small ships and offshore craft…