Shanghai finalized Marine Oil Pollution Compensation Fund Rules

      Reporters learned from the Shanghai Maritime Safety Administration, prepared by the Oil Pollution Fund supporting documents (draft) reported to work the council has been completed, is expected to the State Council will be introduced on July 1 this year, "Marine Oil Pollution Compensation Fund to the imposition of a management approach", the official operation of the Oil Pollution Fund will be just around the corner.

      Shanghai Maritime Safety Administration has a Chinese Ship Oil Pollution Compensation Fund Preparatory Working Group. 2012, commissioned by the Ministry of Transport to promote the establishment of the China Ship Oil Pollution Compensation Fund and proper functioning of the Shanghai Maritime Safety Administration to take charge of this area of ​​work borne by the Fund for the Preparatory Working Group for oil pollution damage compensation fund supporting the preparation of documents, such as Ship Oil Pollution Compensation Fund is the imposition of a management approach to implementation details, the Fund's prospectus and other supporting documents involved in the operation of the Oil Pollution Fund.

      The improvement of the relevant supporting documents to fund the establishment and operation of basic conditions. April 10, Ship Oil Pollution Compensation Fund Collection and Use of Measures for the Administration Rules, the operation of five funds supporting documents finally finalized and submitted to the Ministry of Transport Maritime Bureau. Shanghai Maritime Safety Administration announced yesterday that the preparations of the fund thus to achieve substantive results. The Fund Preparatory Working Group will be under the guidance and recommendations of the higher authorities, and supporting documents, further revision and improvement.

      Expected that the higher law of the State Council on the implementation of the Oil Pollution Fund for oil pollution damage compensation fund levy management approach will be introduced on July 1 this year, the approach, once introduced, will be just around the corner of the formal operation of the Oil Pollution Fund.

     The establishment of the Ship Oil Pollution Compensation Fund, has occurred many times the China Jianghai waters, ship loss, the oil leakage incident. Shanghai Maritime Safety Administration strongly recommends that the Ministry of Transport Maritime Bureau, the Fund's technical support organizations in Shanghai.

      Shanghai Maritime Safety Administration, said the Shanghai 10 years ago, brewing for the establishment of the Marine Oil Pollution Compensation Fund, set up such a fund management center in Shanghai will effectively promote the related shipping elements gather to Shanghai, and accelerating the construction of Shanghai international shipping center.

From an economic perspective, the funds may avoid the bankruptcy of a shipping company. Maritime Bureau, a ship at sea, oil spills, would seriously harm the environment, often resulting in astronomical compensation. However, the compensation for the harm side of the injured party may have limited ability, this time on the second level of compensation from this fund.

     Envisaged that the China Ship Oil Pollution Compensation Fund comes from assessments of oil shippers to impose total will depend on oil imports. Shanghai is also envisaged the construction of ship pollution accidents, and promote the emergency response center and equipment reserve base.