Small Tanker Oil Pollution Indemnification Agreement

Although they are different in their application, these conventions have many principles in common. For example, they apply primarily to discharges into the waters of countries that are signatories to this Convention. The right to replacement of losses may be invoked under the conventions without the need to prove that the owner of the ship causing the pollution was at fault. However, everyone has a time limit within which complaints can be filed. It is likely that the charterers will require the owners of the oil tankers concerned to guarantee their participation in STOPIA 2006 and TOPIA 2006 under the conditions of the parties to the charter. A clause recommended for inclusion in the charter parties is attached as Appendix 3 to this notice. We refer to our circular of March 4, 2005, in which we informed members that the boards of directors of all International Group clubs had agreed to enter into a binding contractual agreement, known as stopia (Small Tanker Oil Pollution Indemnification Agreement), which has the effect of increasing the minimum liability limit for small oil tankers to SDR 20 million, in accordance with the 1992 Civil Liability Convention (CLC 92). STOPIA compensated the Fund in 1992 for the difference between an oil tanker`s liability limit for 92 CLCs and SDR 20 million. STOPIA entered into force on 3 March 2005, in recognition of the additional compensation obligation imposed on oil beneficiaries by the 2003 Protocol on Supplementary Funds and to demonstrate shipowners` support for the compensation system established by the 1992 CLC and Fund Conventions. TOPIA 2006 resembles STOPIA 2006, except for two major differences. First, in accordance with topia 2006, oil tanker owners undertake to release the additional fund up to 50% of the amount of the additional fund`s claims. The Small Tanker Oil Pollution Indemnification Agreement (STOPIA) and the Tanker Oil Pollution Indemnification Agreement (TOPIA) were agreed in 2006 to reflect the desire of shipowners who have hosted members in international group clubs to ensure the continued success of the international oil pollution compensation system. In particular, given that the 2003 Protocol on Supplementary Funds was recently put in place on that date, it was hoped that oil shipowners and beneficiaries would bear the costs of responding to oil leaks from oil tankers more equitably.

For transfers under the Fund Agreement, compensation may be obtained beyond the liability limit of oil tanker owners from the secretariat of the London-based International Pollution Oil Compensation Funds (IOPC Funds). In the event of the entry into force of the HNS Convention, the second phase of compensation may be managed, in similar circumstances, by a similar secretariat for claims that go beyond the shipowner`s liability. Secondly, TOPIA 2006 applies to all oil tankers concerned, regardless of their size. TOPIA 2006 contains the same verification and adaptation rules as STOPIA 2006, so that a possible imbalance in the proportion of duties borne by oil shipowners or beneficiaries can be adjusted prospectively by amending TOPIA 2006 or STOPIA 2006 or both. 2. The proposal, approved by the clubboards shortly before the meeting, to set up a binding contractual system to share the full cost of the 50/50 claims with the oil beneficiaries in the event of an interruption of the revision, was taken into account and the Director of the Fund was ordered to cooperate with the International Group acting on behalf of the shipowners and with OCIMF on behalf of the oil beneficiaries, to present a set of voluntary agreements. on consideration by the Assembly at its next session in February 2006. STOPIA 2006 differs from the current STOPIA in that it contains a review mechanism to adapt the agreement in order to prospectively offset the share of claims paid by oil shipowners or beneficiaries since 20.2.2006 at the end of the first ten years of operation (and after the following five years), in accordance with the three conventions (CLC 92, Fund 92 and Protocol on Supplementary Funds 2003), more than 55%. . . .