The international maritime regime for liability and compensation following incidents involving hazardous and noxious substances is set to change when the International Convention on Liability and Compensation for Damage in connection with the Carriage of Hazardous and Noxious Substances by Sea enters into force on 29 November 2027.
At BIMCO, we welcome this long-awaited development, which will establish a more uniform international framework for compensation where damage is caused by hazardous and noxious substances carried by sea. The Convention has often been described as the missing major element in the global maritime liability system, sitting alongside existing regimes for oil pollution and other maritime risks.
At present, incidents involving such substances may be dealt with under a combination of national law, regional rules and general limitation regimes. Once in force, the Convention will introduce a more structured system based on strict shipowner liability, compulsory insurance and access to an international compensation fund. (....)