The International Group of P&I Clubs (IG) has updated its Oil Pollution Charter Party Clause in order to remove any uncertainties that may have arisen with regard to the scope of the charterers’ indemnity under the clause and in order to address the prospective enforcement of the recent amendment to the financial responsibility provisions of the United States’ Oil Pollution Act of 1990 by means of the US Coast Guard Authorization Act of 2010 (signed into law 15th October 2010).
This would mean additional financial responsibility provisions, in respect of oil pollution, for the ship owners. Implementing rules & regulations forthcoming in the coming months.
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