North Korea Ratifies Wreck Removal Treaty
Image Courtesy: IMOThe Democratic People’s Republic of Korea has ratified the International Maritime Organisation’s (IMO) Nairobi International Convention on the Removal of Wrecks. This brings the total number of states to accede to the treaty to 35.
The convention, which entered into force in 2015, provides the legal basis for states to remove, or have removed, shipwrecks that may threaten the safety of lives, goods and property at sea, as well as the marine environment.
The convention was adopted in 2007 and its contracting states currently represent just over 60% of the world’s merchant fleet tonnage.
The treaty makes shipowners financially liable and requires them to take out insurance or provide other financial security to cover the costs of wreck removal. It also provides states with a right of direct action against insurers.
Kim Kwang Min, Counsellor, Deputy Permanent Representative of North Korea to IMO, North Korean Embassy in London, met IMO Secretary-General Kitack Lim to deposit the instrument of accession on May 8.
