Director authorised to pay compensation and signs interim payment agreement in Princess Empress incident

The Princess Empress (The Philippines, March 2023) was the subject of a detailed report and presentation to the 1992 Fund Executive Committee at its 80^th session held in late May 2023.

The Shipowners’ Club and the 1992 Fund have continued to collect claims both at their joint Claims Submission Office in Calapan, Oriental Mindoro, as well as via several other claims collection centres that have been established throughout the affected region.  Claims for compensation will imminently surpass the 1992 Civil Liability Convention (1992 CLC) limit and it is highly likely that claims will reach and exceed the Small Tanker Oil Pollution Indemnification Agreement, 2006 (as amended 2017) (STOPIA 2006)  limit.

Noting the information provided, the Executive Committee decided to authorise the Director, Gaute Sivertsen, to make payments in respect of losses arising out of this incident.  The Committee also authorised him to sign an agreement on interim payments with the Club, which would apply retrospectively.

The Director took the opportunity of the meeting to thank the Philippine Government, and the Philippine Coast Guard in particular, as well as the Shipowners’ Club for their continued assistance and excellent cooperation.

On Friday 26 May 2023, Mr Sivertsen and the Shipowners’ Club, signed an agreement on interim payments at the IOPC Funds’ offices in London.

Further information regarding the latest developments in the incident can be found at: www.princessempressinformationcentre.com

Specific information for claimants, including claim forms, which are available in both English and Tagalog, can be found here.