Skip to content
←Back to glossaryTransport

2010 HNS Convention (hazardous and noxious substances)

Its 5 cross-references, woven across the glossary's 18 categories

The IMO convention, adopted in 1996 and revised in 2010, that would extend the two-tier oil spill system to chemicals and gases carried by sea; it is not yet in force.

Definition

Accidents involving chemicals, liquefied gases or other dangerous substances carried by sea fall outside the oil conventions. The HNS Convention adopts their structure: a first tier of strict, tonnage-limited liability for the shipowner backed by compulsory insurance, and a second tier made up of a fund financed by receivers of hazardous cargo. It covers pollution, and also personal injury and property damage caused by fire or explosion, which makes it broader than the oil spill regime. Its entry into force requires ratification by a minimum number of states and a minimum volume of reported contributing cargo, a threshold not yet reached. Meanwhile, liability follows ordinary law and general limitation, and the risk stays with P&I clubs with no backup fund.

Example

The protocol adopted in April 2010 provides for a total ceiling of 250 million SDR per incident, shipowner and fund combined; more than fifteen years later, it is still awaiting the number of ratifications needed to come into force.

Related terms
Stay informed

Follow the research

One letter a week. First, the week's underwriting note, when one is published: a dated, argued decision, signed by Paul Bernardski. Then what the observatory published on cyber risk, political risk and insurance. No account, no tracking.

No spam, one-click unsubscribe, no data ever sold.