Friday, 12th April 2019
The International Group and the Chinese Ship-Sourced Oil Pollution Compensation Fund (COPC Fund) signed a Memorandum of Understanding (MoU) in Shanghai on Wednesday 10th April to strengthen the ties between the two organisations and to ensure that the International Group Clubs and the Fund work in a collective and co-operative manner to handle claims in the event of a future ship sourced oil spill in Chinese waters.
The International Group has welcomed the signing of the MoU and believes that it is an important step in building on the relationship already established since the COPC Fund became operative.
The MoU addresses the manner in which the Clubs and the Fund will work together in the event of an oil spill in Chinese waters and highlights the importance placed by both parties on environmental protection, response and clean up and on the need to ensure that claimants that have suffered losses as a result of a ship sourced oil spill receive prompt and adequate compensation.
The International Group looks forward to maintaining and building on this important relationship with the COPC Fund.