Abstract
The Oil Pollution Act of 1990 (OPA 90) is significantly impacting the business of U.S. and international tanker owners engaged in the U.S. trades. This paper delineates the affected segments of the oil shipping industry, the salient regulatory elements stemming from OPA 90, the financial and operational impacts that result, and the strategic implications for the shipowner. Regulatory areas addressed include liability and compensation, financial responsibility, new ships, existing vessels, and vessel response plans. Originally presented in April, 1993, this paper has been updated for publication two years later.
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