The HNS Convention

The International Convention on Liability and Compensation for Damage in connection with the Carriage of Hazardous and Noxious Substances by Sea, 1996 (the HNS Convention) was
adopted on 3 May 1996 by the International Maritime Organisation (IMO), to address the need for an international compensation and liability regime governing damage arising from the carriage of hazardous and noxious substances (HNS) by sea. The Convention contains 54 Articles in six Chapters
with two Annexes. The main objective of this convention is to provide adequate, prompt and effective compensation for loss or damage arising in connection with the carriage of HNS on sea going ships by establishing a guaranteed level of compensation up to 250 million Special Drawing Rights (SDR)
for claims arising from HNS incidents. The SDR is the International Monetary Fund (IMF) special drawing right derived from currencies of leading industrialized nations. SDR 250 m is approximately £ 200 m or USD 303 m.