IMO COMPENSATION
May 1st, 2003
BY KEITH NUTHALLA HUGE increase in international compensation for oil spill victims will be made available via a new International Maritime Organisation coordinated fund. National membership will be voluntary, but will probably apply in Europe, as the plan was an EU initiative. An International Conference on the Establishment of a Supplementary Fund for Compensation for Oil Pollution Damage approved the new compensation pot commanding more than US$700 million for an individual incident. This will complement existing IMO-approved funds, which command US$203 ...
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