By meeting the conditions for its entry into the effective last Friday, on November 19, 2027 it will enter the International Convention on Liability and compensation for damage related to the transport of substances dangerous and harmful by sea (HNS Convention) which has been initially adopted by the International Maritime Organization in 1996 and was updated in 2010.

The conditions for its entry into force 18 months after the requirements are met, in fact, provide that the Convention is signed by at least 12 States, four of which are with a fleet of a gross tonnage of not less than two million units each, and that the Secretary-General of the IMO received information confirming that in the previous calendar year the total amount of cargo subject to contribution to the general account of these States amounted to at least 40 million tons. There are currently 12 States Parties to the Protocol HNS of 2010 following the ratifications of Belgium, Germany, the Netherlands and Sweden last April, which followed the previous ones of Canada, Denmark, Estonia, France, Norway, United Kingdom, Slovakia, South Africa and Turkey, and nine of these states have a gross tonnage of more than two million tons. In addition, the reports on the cargo subject to the levy unloaded in a port or terminals of these States that have been submitted by the same Contracting States have confirmed that the threshold of 40 million tons for the year 2025.

'The fulfilment of the conditions for entry into force the Secretary-General underlined of the IMO, Arsenio Dominguez - represents a milestone awaited by time, which fills an important gap in the international regime of liability and compensation for maritime transport. This treaty will ensure that those affected accidents involving dangerous goods transported by ships access to fair and timely compensation, providing the legal certainty for industry and governments'.

The HNS Convention complements the current liability regimes and IMO compensation for oil pollution, and dangerous shipwrecks, extending similar protection to damage deriving from other hazardous and harmful substances. The Convention covers loss of life, personal injury, property damage, economic losses, remediation costs and environmental damage resulting from accidents involving more than 2,000 hazardous substances transported by sea, including chemicals, oils, acids, fertilizers, alcohols, LNG and LPG.

Under the scheme, shipowners are subject to liability for damages and are required to maintain insurance certified by the State or other financial guarantee. In addition, it is additional compensation available through the HNS Fund, financed by contributions from consignees of HNS goods in the United States contracting parties. The IMO recalled that it is estimated that about 65,000 ships require HNS insurance certificates or other warranty financial system. The total compensation provided for by the Convention is limited to 250 million in Special Drawing Rights of the Fund International Monetary Tax (about 360 million dollars) for accident. Shipowners are held responsible for the costs resulting from an HNS accident up to the maximum limit set by the Convention. The HNS Fund will be administered by the States, with contributions based on the compensation actually claimed.