Bunker Convention

The Bunker Convention, officially called the International Convention on Civil Liability for Bunker Oil Pollution Damage, is an international treaty established in 2001. It requires ships to carry insurance or financial security to cover potential damages caused by oil leaks from their bunker fuel (the fuel used to power ships). The convention aims to ensure that victims of oil pollution from shipping are compensated promptly and fairly, while also setting safety and liability standards for ship operators. It applies mainly to large oil-powered ships, promoting responsible handling of oil cargo and protecting the environment and affected communities.