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The IOPCF report on the oil spill

October 13, 2006

INCIDENTS INVOLVING THE 1992 FUND

Summary: The Philippines registered Solar I sank in 630 metres of water some 10 nautical miles south of Guimars Island, Republic of the Philippines. An unknown, but large quantity of oil was spilled, most of which stranded on the south coast of Guimaras Island. The oil had a significant impact on small-scale fisheries and aquaculture as well as on small-scale tourism businesses leading to considerable financial hardship for some individuals. This has necessitated a pro-active approach by the 1992 Fund and the shipowner’s insurer in order to enable them to make rapid assessments of losses in order to enable them to make interim compensation payments.

For the full report, click fundreportoct061.pdf.

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