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Industry settles coverage binding for FSO Safer oil transfer operation

June 12, 2023


The insurance industry’s efforts to bind coverage for the FSO Safer operation has been successfully completed today, global insurer Howden announced.

This development will allow the United Nations to proceed with the ship-to-ship (STS) transfer for FSO Safer, and in the process avert what could be one of the world’s largest oil spills.

This UN-led operation involves the transfer of oil from FSO Safer to a replacement vessel, the Very Large Crude Container (VLCC) Nautica, as well as the scrapping of Safer at a green salvage yard. The most immediate danger of an oil spill will be prevented once the oil has been transferred to Nautica. The UN Development Programme (UNDP) will oversee the emergency phase of the operation which involves the removal of the oil.

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