For all vessels, marine oil spills are a risk. When there’s an oil spill, it not only affects the shipowner but fishing, tourism and an individual’s livelihoods. Oil may cause severe damage to property and lead to a devastating economic loss. If you own a ship or run a cargo business, you have to take into consideration that oil spills can happen.
How To Protect Against Oil Spill Damage
If an oil spill occurs, you need adequate insurance coverage. One of the major sources of protection comes from the Civil Liability Convention. This provides spills for oil up to your liability limit. In 2001, the Internation Convention on Civil Liability for Bunker Oil Pollution Damage was adopted. It ensures that there is compensation available for those impacted by oil spills.
How To Find Insurance
If your ship is over 1,000 tons, you cannot enter signatory state ports. If you want to enter, you need to carry a certificate known as a Blue Card. This is proof that you have adequate insurance to cover a spill if it were to happen. It is your marine insurance company that can provide you with this certificate.
If you operate a large vessel, then you will need a bunker convention certificate before you enter any signatory state port. Not only does this protect the environment and those around you, but it protects your business.