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Oil Pollution Compensation Fund News

22 Dec 2016

Exhibition on Risk of Oil Pollution from Ships

The International Group is collaborating with the International Maritime Organization (IMO), International Oil Pollution Compensation Fund (IOPC) Funds and other industry organisations to produce an exhibition at the IMO to mark the achievements of the international community over the past 50 years to achieve a sustained reduction in major oil spills from ships; to establish effective systems for preparedness and response if there is an incident; and to create a comprehensive mechanism for providing compensation. In 1967, the grounding of the Torrey Canyon focused the world's attention on the risks and environmental impact of major marine oil spills.

14 Oct 2014

ICS: Oil Pollution Compensation Regime under Threat

Peter Hinchliffe (Photo: ICS)

The running of the global regime for compensation from oil pollution from ships may be under threat, due to a decision by governments to wind up the 1971 International Oil Pollution Compensation Fund (IOPCF), says the International Chamber of Shipping (ICS), the global trade association for shipowners. At next week’s IOPCF meeting in London, ICS, in conjunction with BIMCO and Intertanko, will argue that it is premature to wind up the 1971 Fund when there are still outstanding claims not covered by the current 1992 Fund.

09 Sep 2020

Rena Grounding Response Reviewed

(Credit: Maritime New Zealand)

Maritime New Zealand (MNZ) welcomed the release of the independent review of its response to the grounding of the Rena, and the announcement of $2 million of government funding to help improve New Zealand’s maritime response capability.The report, by independent reviewer Simon Murdoch, was released today by Transport Minister Gerry Brownlee.MNZ Director Keith Manch said the organization was already implementing a number of the review recommendations and the funding package would help MNZ develop a wider strategic and operational response to maritime incidents.In the review report…

06 Nov 2013

Original 1971 Oil Pollution Compensation Fund Closes

Photo: Danish Maritime Authority

Several years ago, the 1971 Fund was replaced by the two subsequent Funds that pay higher compensations to the victims of oil pollution. It was an international innovation when a global, solidary scheme on compensation for the victims of oil pollution caused by tankers was established with the 1971 Fund. It has proven to be such a great success that the system has been improved twice, and the model has been copied for other types of pollution from ships. The 1971 Fund has been replaced by the 1992 Fund and the Supplementary Fund…

04 Nov 2013

Ground-breaking Oil Pollution Compensation Fund to be Wound Up

IOPC Fund Meeting: Photo courtesy of the Fund

The governing bodies of the International Oil Pollution Compensation Funds (IOPC Funds) held recent meetings at the Headquarters of the International Maritime Organization (IMO) in London, and decided to wind up the ground-breaking 1971 fund which has since been replaced by the 1992 protocol. The Fund was an international innovation when a global, solidaritory scheme on compensation for the victims of oil pollution caused by tankers was established in 1971. It has proven to be such a great success that the system has been improved twice…

27 Jul 2010

China’s Oil Pollution Laws Worth Watching

The UK P&I Club offered the following briefing on Chinese marine pollution law. Ship owners and operators trading in Chinese waters face an extensive set of new legal and regulatory requirements governing their roles and responsibilities in oil pollution incidents. China’s Prevention and Control of Marine Pollution from Ships Regulation was implemented on 1st March 2010. It dovetails with the Marine Environment Protection Law of the People’s Republic of China, laying down the principles and outlining the country’s marine pollution legal system. However, the detailed requirements under the Regulation have yet to be revealed. Chinese ministries have other supplementary regulations in the pipeline, such as the management and funding of a ship oil pollution compensation fund.

11 Sep 2003

EU Members Encouraged to Adopt New Oil Pollution Compensation Fund

The European Commission (EC) issued a Press Release

26 Jun 2000

Lunde To Leave Intertanko

INTERTANKO announced that. Dagfinn Lunde, the Association's Managing Director who has so fervently fought for the tanker industry for many years, will leave his post on September 15, 2000, opting to resume , his career within international banking. Lunde, who has the ear of most of the world's leading marine industry policy makers, is well regarded and is considered to have done an excellent job during his five-year tenure as INTERTANKO's Managing Director starting with a major reorganization where senior INTERTANKO managers were tasked with the responsibility for looking after the needs of members in particular geographical areas. .…

05 Oct 2004

INTERTANKO members lobby MEPs in Brussels

INTERTANKO’s European Reference Group continued its promotion of INTERTANKO’s policies in Brussels last week. Numerous meetings were arranged with Members of the European Parliament from Spain, France, Germany, Italy, with transport or shipping attaches from Malta, Cyprus and the U.K., as well as with senior officials from the Maritime Transport Directorate. INTERTANKO’s main message remains that shipping is international and should be regulated through international rules agreed in IMO, while regional or national regulation, however well intended, often proves counterproductive. INTERTANKO underlined the need for much faster ratification of the IMO conventions, which would remove some of the pressure for regional or national regulation.