China may establish oil pollution damage compensation fund next year

Nov 06, 2007 01:00 AM

China's own maritime oil pollution damage compensation fund may be established next year after the promulgation of the new "Regulations on the Management of Sea Areas Polluted by Ships", a state Maritime Safety Administration (MSA) official disclosed at the 2007 International Maritime Forum held in Shanghai.
China's coastline is receiving an increasing number of large-scale oil tankers, especially those with a dwt of over 300,000 tons. Major oil spill incidents over 100 tons have occurred many times in recent years in China, causing environmental pollution as well as financial losses, Liu Gongchen, Deputy Director of MSA told.

"China should follow the international norm in establishing its own oil pollution damage compensation fund in order to speed up the cleaning-up process," said Liu.
The revised "Regulations on the Management of Sea Areas Polluted by Ships" will enforce compulsive oil pollution insurance on all ships, Liu added.

Source / Xinhua News Agency
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