The Convention replaced the International Convention Relating to the Limitation of the Liability of Owners of Seagoing Ships, which was signed in Brussels in 1957, and came into pull in 1968 .
Under the 1976 Convention, the terminus ad quem of liability for claims covered is raised well, in some cases up to 250-300 per penny. Limits are specified for two types of claims – claims for loss of life or personal injury, and property claims ( such as damage to other ships, property or harbour works ).
The limits under the 1976 Convention were set at 333,000 SDR for personal claims for ships not exceeding 500 tons plus an extra sum based on tonnage. For other claims, the terminus ad quem of liability was fixed under the 1976 Convention at 167,000 SDR plus extra amounts based on tonnage on ships exceeding 500 tons .
The Convention provides for a about unbreakable system of limiting liability. Shipowners and salvors may limit their indebtedness, except if “ it is proved that the loss resulted from his personal act or omission, committed with the intent to cause such a loss, or recklessly and with cognition that such passing would probably result ” .
protocol of 1996
borrowing : 2 May 1996
entrance into force : 13 May 2004
Under the Protocol the total of compensation account payable in the consequence of an incidental being substantially increased and besides introduces a “ silent toleration ” operation for updating these amounts .
The limit of indebtedness for claims for
loss of life or personal injury
on ships not exceeding 2,000 crude tonnage is 2 million SDR .
For larger ships, the succeed extra amounts are used in calculating the limit measure :
- For each ton from 2,001 to 30,000 tons, 800 SDR
- For each ton from 30,001 to 70,000 tons, 600 SDR
- For each ton in excess of 70,000, 400 SDR (US$634).
The restrict of liability for property claims for ships not exceeding 2,000 gross tonnage is 1 million SDR .
For larger ships, the be extra amounts are used in calculating the limitation total :
- For each ton from 2,001 to 30,000 tons, 400 SDR
- For each ton from 30,001 to 70,000 tons, 300 SDR
- For each ton in excess of 70,000, 200 SDR
Amendments to 1996 Protocol
adoption : 19 April 2012
introduction into wedge : 8 June 2015
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Under the amendments to the 1996 Protocol, the limits are raised as follows :
The limit of indebtedness for claims for
loss of life or personal injury
on ships not exceeding 2,000 crude tonnage is 3.02 million SDR ( up from 2 million SDR ) .
For larger ships, the pursuit extra amounts are used in calculating the limitation total :
• For each long ton from 2,001 to 30,000 tons, 1,208 SDR ( up from 800 SDR )
• For each short ton from 30,001 to 70,000 tons, 906 SDR ( up from 600 SDR )
• For each short ton in excess of 70,000, 604 SDR ( up from 400 SDR ) .
The specify of liability for
property claims
for ships not exceeding 2,000 arrant tonnage is 1.51 million SDR ( up from 1 million SDR ) .
For larger ships, the follow extra amounts are used in calculating the limitation measure :
• For each long ton from 2,001 to 30,000 tons, 604 SDR ( up from 400 SDR )
• For each long ton from 30,001 to 70,000 tons, 453 SDR ( up from 300 SDR )
• For each long ton in excess of 70,000 tons, 302 SDR ( up from 200 SDR ) .
especial Drawing Rights
The daily conversion rates for Special Drawing Rights (SDRs) can be found on the International Monetary Fund IMF website: The daily conversion rates for Special Drawing Rights ( SDRs ) can be found on the International Monetary Fund IMF web site : hypertext transfer protocol : //www.imf.org/
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extra Drawing Rights
The daily conversion rates for Special Drawing Rights (SDRs) can be found on the International Monetary Fund IMF website: The daily conversion rates for Special Drawing Rights ( SDRs ) can be found on the International Monetary Fund IMF web site : hypertext transfer protocol :
