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BUNKERS Convention Enters in to force on November 21, 2008

International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001 (BUNKERS Convention), an international treaty covering liability and compensation for pollution damage caused by spills of oil, when carried as fuel in ships’ bunkers. Current regimes covering oil spills do not include bunker oil spills from vessels other than tankers enters into force on 21st November 2008..

The Convention is intended to ensure that adequate, prompt, and effective compensation is available to persons who suffer damage caused by spills of oil, when carried as fuel in ships’ bunkers. The Convention applies to damage caused on the territory, including the territorial sea, and in exclusive economic zones of States Parties.

The Convention requires ships over 1,000 gross tonnage registered in a State Party to the Convention to maintain insurance or other financial security, such as the guarantee of a bank or similar financial institution, to cover the liability of the registered owner for pollution damage in an amount equal to the limits of liability under the applicable national or international limitation regime, but in all cases, not exceeding an amount calculated in accordance with the Convention on Limitation of Liability for Maritime Claims, 1976, as amended.

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