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Oil shippers subject to spill indemnity

July 01st, 2012 | Global Times

Effective Sunday, enterprises and agents who receive oils – including fuel oil, diesel oil, and lubricating oil – shipped via maritime transportation routes in waters under Chinese jurisdiction will be required to pay 0.3 yuan ($0.05) per ton.

These funds will be used to help companies offset their economic losses in the event of an oil spill at sea, while also compensating the victims of such accidents, according to marine authorities.

Since 2005, 253 pollution spills have occurred in China’s waters, involving more than 30,000 tons of oil.

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  6. CNOOC confirms US$38 mln oil spill suit
  7. Suit claims oil spill harmed fishermen
  8. Oil spill response base network set to open
Category: China Oil Monitor