IOPC holds compensation-level at 60%

Apr 14, 1997 02:00 AM

The London-based International Oil Pollution Compensation Fund (IOPC) will hold the level of provisional compensation to a maximum 60 % of the amount claimed for an oil spill by a Russian tanker that broke apart in the Sea of Japan earlier this year, fund sources said. The decision was made at a meeting of the IOPC's board of directors held in London to uphold the secretariat's suggestion to maintain the 60 % ceiling for claims, which the fund provisionally set in February, the sources said. At its general assembly session recently, the IOPC will propose that oil and shipping firms pay an additional 15 bn yen or so into the international compensation fund to make up for any shortfalls, they said. The IOPC estimates the total damage from the oil spill along the Sea of Japan coast could reach 20 bn yen. It said that as of March 31, sufferers had claimed a total of 2.6 bn yen in compensation. The maximum amount of the fund's compensation stands at 22.5 bn yen, the sources said.
The spill occurred Jan. 2 when the Russian tanker Nakhodka broke apart in rough seas off the Oki Islands in Shimane Prefecture, western Japan. The ship was carrying 17,100 tons of fuel oil, at least 5,000 of which has leaked into the sea and polluted vast stretches of coastline in Japan's worst oil disaster ever.

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