Australia will ratify the Bunker Oil Convention and the International Oil Pollution Compensation Fund (IOPC) Supplementary Fund Protocol, but no deadline has been set for the ratification. The ratification is aimed at increasing compensation for oil spills in Australian waters. The available compensation would be increased from A$360 million ($329 million) to about A$1.33 billion ($1.21 billion). Ships entering Australian waters will be strictly liable for bunker spills and will need to have an insurance against any pollution damage. At present, owners are only liable to pay for the costs of bunker spills cleanups in Australia if they are found to be responsible.
Transport Minister Anthony Albanese has introduced the Protection of the Sea (Civil Liability for Bunker Oil Pollution Damage) Bill 2008 into parliament. He said that a Protection of the Sea Legislation Amendment Bill 2008 would also be introduced within the next few months, increasing the compensation available in the event of oil spills.
Transport Minister Anthony Albanese has introduced the Protection of the Sea (Civil Liability for Bunker Oil Pollution Damage) Bill 2008 into parliament. He said that a Protection of the Sea Legislation Amendment Bill 2008 would also be introduced within the next few months, increasing the compensation available in the event of oil spills.