A dispute over a pioneering tanker compensation fund appears to be finally resolved — but there looks to be more losers than winners.
The row over the Nissos Amorgos tanker spill in Venezuela 17 years ago has soured relationships and led to warnings that the handling of future pollution incidents will be potentially protracted and less straightforward.
The Gard protection-and-indemnity (P&I) club, which covered the spill by the 86,400-dwt Nissos Amorgos (built 1988), is still considering its options following a decision to wind up the 1971 International Oil Pollution Compensation (IOPC) Fund, leaving it facing a $60m Supreme Court of Venezuelan judgment without customary support from cargo interests.
The
