The International Convention on Civil Liability for Bunker Oil Pollution Damage 2001 (the "Bunkers Convention") was ratified by the Republic of Cyprus in 2004. The Bunkers Convention provides a liability, compensation and compulsory insurance system in respect of pollution caused by spillages of bunker oil from ships. Shipowners are liable to pay compensation for pollution damage caused by spillages, and are required to maintain insurance or other financial security to cover the potential liability calculated in accordance with the Convention on Limitation of Liability for Maritime Claims, 1976, as amended.
With effect from 21 November 2008, when the Bunkers Convention takes effect, every ship of 1,000 gross tonnes or more will be required to hold a Bunkers Convention Certificate, certifying that adequate insurance or other financial security is in force, in order to enter or leave a port in Cyprus. Applications for Bunkers Convention Certificate should be submitted to the Department of Merchant Shipping without delay, in order to ensure that ships are certified by 21 November. We should be pleased to advise on the procedure, and to assist with applications.
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