Singapore deposited an instrument of accession to the International Convention on Limitation of Liability for Maritime Claims (LLMC), 1976 at the International Maritime Organisation (IMO) in London on 24 Jan 05. The accession will take effect on 1 May 05.

The LLMC 76 was adopted by the IMO on 19 November 1976 and entered into force on 1 December 1986. It replaces the International Convention Relating to the Limitation of the Liability of Owners of Seagoing Ships, which was signed in Brussels in 1957 and entered into force in 1968.

The LLMC 76 aims to limit the liability of claims for loss of life or personal injury, or loss or damage to property including damage to other ships, property, harbour works, basins, waterways and aids to navigation, occurring on board or in connection with the operation of a ship or salvage operations, and loss resulting from delay in the carriage by sea of cargo, passengers or their luggage.

The Convention safeguards the interests of both shipowners and potential claimants by providing greater certainty in the event of a claim.The limits of compensation are higher under the LLMC 76 than the existing regime such that claimants need not resort to litigation in order to obtain adequate compensation.In return, the shipowner obtains a virtually unbreakable right to limit his liability towards such claimants.This results in more all-around certainty in the maritime legal environment.

Singapore's accession to the LLMC 76 will help safeguard the interest of the shipping community: shipowners and insurers in particular, and provide greater certainty to the outcome of the compensation regime. It will also align Singapore's legislative standards to those in leading maritime nations and in accordance with international practice and standards, thereby enhancing Singapore's attractiveness as a centre for maritime law and arbitration. This initiative reaffirms the Maritime and Port Authority of Singapore (MPA)'s commitment to create a sophisticated maritime legal infrastructure to enhance Singapore's standing as an International Maritime Centre.

Attached:
Fact Sheet on LLMC 76