Financial caps for oil pollution damage: a historical mistake?

M.G. Faure; H. Wang

doi:10.1016/j.marpol.2007.10.008

Financial caps for oil pollution damage: a historical mistake?

M.G. Faure^*, H. Wang^*

^*Corresponding author for this work

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Abstract

The limitation of liability (known as financial caps) of the ship owner has a long tradition in maritime law in general and in the marine oil pollution compensation regime in particular. This paper uses the economic instrument to critically analyze such a mechanism, in order to answer the question if the financial caps are indeed a historical mistake.

Original language	English
Pages (from-to)	592-606
Journal	Marine Policy
Volume	32
Issue number	4
DOIs	https://doi.org/10.1016/j.marpol.2007.10.008
Publication status	Published - 1 Jan 2008

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10.1016/j.marpol.2007.10.008

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@article{386bb1d2b3f749dca89dc22b8cf20b6b,

title = "Financial caps for oil pollution damage: a historical mistake?",

abstract = "The limitation of liability (known as financial caps) of the ship owner has a long tradition in maritime law in general and in the marine oil pollution compensation regime in particular. This paper uses the economic instrument to critically analyze such a mechanism, in order to answer the question if the financial caps are indeed a historical mistake. ",

author = "M.G. Faure and H. Wang",

year = "2008",

month = jan,

day = "1",

doi = "10.1016/j.marpol.2007.10.008",

language = "English",

volume = "32",

pages = "592--606",

journal = "Marine Policy",

issn = "0308-597X",