Press Release: Maritime safety: Loyola de Palacio welcomes the agreement for new levels of oil pollution compensation

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Series Details IP/03/701 (16.5.03)
Publication Date 16/05/2003
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The International Maritime Organisation Diplomatic Conference adopted on 16 May 2003 a new Protocol to the existing oil pollution liability and compensation conventions. The new Protocol establishes a fund which signifies a five-fold increase of the compensation available to victims, up to approximately EUR 900 million). The new Fund is open to any member of the existing International Oil Pollution Compensation Fund. The level of increase is commensurate with what was requested by the European Commission in its original proposal.
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http://ec.europa.eu/comm/transport/home/whatsnew/index_en.htm http://ec.europa.eu/comm/transport/home/whatsnew/index_en.htm
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