China sets up oil spill damage fund
China has established a national compensation fund for oil spills caused by ships, Want China Times reports. "This marks a new milestone for China's compensation mechanism for ship-caused oil pollution and will better safeguard the interests of the victims of accidents," said He Jianzong, deputy transport minister, at the inauguration ceremony. The commission comprises representatives from nine units, including the ministries of transport, finance, agriculture and environmental protection, the State Oceanic Administration, the China National Tourism Administration, China National Petroleum Corporation, Sinopec and China National Offshore Oil Corporation. It will be responsible for managing the compensation fund and handling cases, the Shanghai-based National Business News reports. He said that China is a great shipping country and a large oil consumer and that its annual oil imports have continued to surge along with the nation's rapid economic expansion to a high of 374.6 million tons in 2014, adding that the expansion of oil tankers to meet increased oil imports has been accompanied by rising oil spill risks. The paper said that from 1973 to 2014, a total of 3,200 oil spill accidents occurred in the seas around China, with spilled oil amounting to 42,936 tons. Over the years, there were 91 ...
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