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The International Convention on Civil Liability for Oil Pollution Damage, 1969, renewed in 1992 and often referred to as the CLC Convention, is an international maritime treaty admistered by the International Maritime Organization that was adopted to ensure that adequate compensation would be available where oil pollution damage was caused by maritime casualties involving oil tankers (i.e ...
The convention covers leakage of that oil, and requires signatories to the convention to have their ships appropriately insured against such leakages. It is associated with and references: United Nations Convention on the Law of the Sea; International Convention on Civil Liability for Oil Pollution Damage (CLC [Convention])
The fund is also required to "indemnify the shipowner or his insurer" in spills where a ship is in full compliance with international conventions, and no wilful misconduct caused the spill. [ 2 ] The 1992 convention came into force on 30 May 2006.
A classification certificate issued by a classification society recognised by the proposed ship register is required for a ship's owner to be able to register the ship and to obtain marine insurance on the ship, and may be required to be produced before a ship's entry into some ports or waterways, and may be of interest to charterers and ...
Throughout its existence, the IMO has continued to produce new and updated conventions across a wide range of maritime issues covering not only safety of life and marine pollution but also encompassing safe navigation, search and rescue, wreck removal, tonnage measurement, liability and compensation, ship recycling, the training and ...
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. [1] Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure.
The International Register of Shipping or IS was established in 1993, and is an independent classification society which provides classification, certification, verification and advisory services. The International Register of Shipping also offers consulting services well suited for the shipping and offshore industry. [ 1 ]
The Certificate of Financial Responsibility (COFR) program was created to ensure that tankers, barges, and other vessels used to transport oil and chemical-based products on U.S. should bear any ensuing cleanup costs from spills or leaks.