The structure of this Convention three differs from that of the CLC due to the fact there are no provisions on the limitation of liability of the owner, nor is it complemented by a Fund Convention. The 1992 Fund Convention established the International Oil Pollution Compensation Fund 1992 (1992 Fund) to offer compensation for victims who are unable to receive full compensation beneath the Civil Liability Convention. NB: Because the advent of the 1992 Protocol it is no longer feasible for countries to ratify the 1969 Civil Liability Convention.

Due to the fact 1998, Parties to the 1992 Protocol ceased to be Parties to CLC 1969, simply because the new, revised Convention took its place. The actions introduced before the Courts of the US, which is not a Party to the IMO civil liability Conventions, have been in basic unsuccessful. The essential legal components of the international regime established by the 1992 CLC can be summarized as follows.

This Convention shall supersede any Convention in force or open for signature, ratification or accession at the date on which this Convention is opened for signature, but only to the extent that such Convention would be in conflict with it however, nothing in this article shall have an effect on the obligation of States Parties not party to this Convention arising below such Convention.

For ships carrying much more than 2 000 tonnes of oil as cargo in bulk, the shipowner is obliged to sustain insurance to cover his liability under the … Read the rest >>>