On 14 April 2014 the Nairobi International Convention on the Removal of Wrecks, 2007 (“the Convention”) achieved the requisite number of ratifications (10) triggering the entry into force conditions. The Convention will enter into force in State Parties on 14 April 2015.
The Convention provides a strict liability, compensation and compulsory insurance regime for States affected by a maritime casualty. It makes the registered owner of a ship liable for locating, marking and removing a wreck deemed to be a hazard in a State’s Convention area.
Hanseatic Underwriters have been in close contact with the signatory states to the Convention and will issue Blue Cards where required. Blue Cards issued by Hanseatic Underwriters will fully satisfy the Convention in relation to the requirement for compulsory insurance.
Please find all details in the attached circular.