The final pending claims in the Trident Star incident, which occurred during loading operations in the Port of Tanjung Pelepas, Malaysia, in August 2016, have now been settled.
The 1992 Fund had started making payments of compensation for this incident in 2020 when the liability limit applicable to the Trident Star under the 1992 CLC, USD 6.5 million, was reached. However, since the Small Tanker Oil Pollution Indemnification Agreement (STOPIA) 2006 was applicable to this case, the shipowner’s insurer, the Shipowner’s Club, has reimbursed these amounts to the 1992 Fund.
The last claims that remained outstanding, by five claimants belonging to a group of shipping companies totalling USD 6.6 million, were assessed by the Shipowners’ Club and the 1992 Fund at USD 3.3 million and these claims were settled in early 2022. All corresponding legal actions were subsequently withdrawn and, as such, the 1992 Fund Executive Committee noted at its March 2022 session that the incident could now be considered closed. At the time of the session, the delegation of Malaysia expressed its appreciation for the handling of the case.
The International Group of P&I Associations also took the opportunity, on behalf of the Shipowner’s Club, to thank both the IOPC Funds Secretariat and the Government of Malaysia for the excellent cooperation and engagement on the handling, assessment and settlement of claims throughout the time that the case had remained open.
The Director would like to thank the Government of Malaysia for its support and would also like to express his gratitude to the Shipowners’ Club for their excellent cooperation in this case, both in respect of the handling of claims and the prompt reimbursement of payments under STOPIA 2006.
This case has demonstrated that the successful cooperation between the Clubs and the IOPC Funds is extremely beneficial in administering STOPIA and the international liability and compensation regime efficiently.
Further information regarding the incident can be found under the incident section.