Protocol to Amend the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage (FUND 2)

General Detail

General Information

  1. Type: Convention
  2. Date of signature:
  3. Place of signature: London, United Kingdom
  4. Depositary:
  5. Date of entry into force: 30/05/1996

Category

Environment and products

Sub category

Maritime and Law of the Sea

Groups

IMO

What is it about?

This Protocol aims to replace the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage (FUND) (London, 18 December 1971). It creates a new compensation fund offering a worldwide compensation that can reach as high as 256 million US dollars. State parties to the 1992 Protocol cease to be parties to the Convention of 1971. The amendments of 18 October 2000 and the Protocol of 16 May 2003 can still raise the amount of compensation offered to victims of oil spills up to a ceiling of 1 billion US dollars.

Why is it relevant?

State parties to the Protocol of 1992 enjoy an improved compensation scheme in cases where they are damaged by oil spills. These funds also offer increased compensation for losses caused by pollution and damage to the fishing and tourism industry. The amount of compensation allocated to owners of ships is also raised. The Protocol of 1992 is said to have become the instrument of reference in compensation for oil pollution damage.

Additional Information

The International Compensation Fund for oil pollution damage created by the 1992 Protocol (FUND 2) is administered like the 1971 (FUND) by a Secretariat which is headquartered in London. In 2003, the Protocol of 1992 was ratified by 86 States representing 87% of the world fleet.

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Country ratifications
CountryRatification date
Albania30/06/2005
Algeria11/06/1998
Angola04/10/2001
Antigua and Barbuda14/06/2000
Argentina13/10/2000
Australia09/10/1995
Bahamas01/04/1997
Bahrain03/05/1996
Barbados07/07/1998
Belgium06/10/1998
Belize27/11/1998
Benin05/02/2010
Brunei Darussalam31/01/2002
Bulgaria18/11/2005
Cambodia08/06/2001
Cameroon15/10/2001
Canada29/05/1998
Cape Verde04/07/2003
Colombia19/11/2001
Comoros05/01/2000
Congo07/08/2002
Cote d'Ivoire08/07/2013
Croatia12/01/1998
Cyprus12/05/1997
Denmark30/05/1995
Djibouti08/01/2001
Dominica31/08/2001
Dominican Republic24/06/1999
Ecuador11/12/2007
Estonia06/08/2004
Fiji30/11/1999
Finland24/11/1995
France29/09/1994
Gabon31/05/2002
Georgia18/04/2000
Germany29/09/1994
Ghana03/02/2003
Greece09/10/1995
Grenada07/01/1998
Guinea02/10/2002
Hungary30/03/2007
Iceland13/11/1998
India21/06/2000
Iran05/11/2008
Ireland15/05/1997
Israel21/10/2004
Italy16/09/1999
Jamaica24/06/1997
Japan24/08/1994
Kenya02/02/2000
Kiribati05/02/2007
Latvia06/04/1998
Liberia06/10/1995
Lithuania27/06/2000
Luxembourg21/11/2005
Madagascar21/05/2002
Malaysia09/06/2004
Maldives20/05/2005
Malta06/01/2000
Marshall Islands16/10/1995
Mauritania04/05/2012
Mauritius06/12/1999
Mexico13/05/1994
Monaco08/11/1996
Montenegro29/11/2011
Morocco22/08/2000
Mozambique26/04/2002
Namibia18/12/2002
Netherlands15/11/1996
New Zealand25/06/1998
Nicaragua04/04/2014
Nigeria25/05/2002
Norway03/04/1995
Oman08/07/1994
Palau29/09/2011
Panama18/03/1999
Papua New Guinea23/01/2001
Philippines07/07/1997
Poland21/12/1999
Portugal13/11/2001
Qatar20/11/2001
Republic of Korea07/03/1997
Russian Federation20/03/2000
Saint Kitts and Nevis02/03/2005
Saint Lucia20/05/2004
Saint Vincent and the Grenadines09/10/2001
Samoa01/02/2002
Senegal02/08/2011
Serbia25/05/2011
Seychelles23/07/1999
Sierra Leone04/06/2001
Singapore31/12/1997
Slovakia08/07/2013
Slovenia19/07/2000
South Africa01/10/2004
Spain06/07/1995
Sri Lanka22/01/1999
Sweden25/05/1995
Switzerland10/10/2005
Syrian Arab Republic24/04/2009
Tonga10/12/1999
Trinidad and Tobago06/03/2000
Tunisia29/01/1997
Turkey17/08/2001
Tuvalu30/06/2004
United Arab Emirates19/11/1997
United Kingdom29/09/1994
United Republic of Tanzania19/11/2002
Uruguay09/07/1997
Vanuatu18/02/1999
Venezuela22/07/1998
Treaties analysis
YearRatifications
19946
199510
19963
199710
199811
199910
200012
200112
200210
20032
20046
20056
20073
20081
20091
20101
20114
20121
20132
20141
Total112
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