Local News

IOPC Funds Meeting

Grenada is represented at the meetings of the International Oil Pollution Compensation Funds currently underway in London, United Kingdom 18 – 22 October 2010.

HE Ruth Elizabeth Rouse, High Commissioner for Grenada and Mr. Lazarus D. Joseph, Marine Surveyor, Grenada Ports Authority (Department of Maritime Affairs), are participating in the meetings including the Fifteenth Session of the 1992 Fund Assembly and the Forty-ninth session of the 1992 Fund Executive Committee.

The meetings will examine incidents involving the IOPC Funds, compensation matters, financial policies and procedures, treaty matters and election of members of the Executive Committee.

Grenada has been an active participant in the work of the IOPC Funds, having at one time sat on the Executive Committee as the only small state to assume that role; membership of the fund is viewed as extremely important and relevant, since being an Island State, the threat of an oil spill is ever present.

The International Oil Pollution Compensation Funds are part of an international regime of liability and compensation for oil pollution damage caused by oil spills from tankers. Under the regime the owner of a tanker is liable to pay compensation up to a certain limit for oil pollution damage following an escape of persistent oil from his ship. If that amount does not cover all the admissible claims, further compensation is available from the 1992 Fund if the damage occurs in a State which is a Member of that Fund.

The IOPC Funds are financed by levies on certain types of oil carried by sea. The levies are paid by entities which receive oil after sea transport, and normally not by States.

Anyone who has suffered pollution damage in a Member State may make a claim against the IOPC Funds for compensation.

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