EMEA News
Ammonia a Challenge for Insurers, Says Lawyer
Getting alternative marine fuel ammonia covered by insurance in the event of a bunker spill could be problematic as ammonia falls outside the Bunker Convention, a maritime lawyer has said.
Speaking to maritime journalist Craig Jallal on the sidelines of a tanker conference, Rachel Hoyland, a lawyer with Stephenson Harwood, said that the fuel falling outside the convention, meant that there is no liability cap thereby raising the prospect of unlimited liability which in turn would greatly increase the risk from an insurance point-of-view.
In a video clip posted by maritime publisher Rivera Maritime, Hoyland said that the issue was being looked at by the Comite Maritime International and that she was hopeful of a resolution and that new legislation would emerge to address the issue.
Antwerp-based CMI is an international organisation focused on maritime law. The International Convention on Civil Liability for Bunker Oil Pollution Damage is an International Maritime Organisation instrument that covers pollution from spill. Ammonia is one of a number of alternative bunker fuels gaining traction in the shipping space.
