Oil Pollution Compensation Act

Oil Pollution Compensation Act - Title I: International Convention on Civil Liability for Oil Pollution Damage - Provides that the owner of any ship shall be liable for pollution damage caused by the escape or discharge of oil from his ship. States that such liability shall apply exclusively to pollution damage (other than preventive measures) caused on the territory, including the territorial sea, of the United States or of any foreign country which is party to the Liability Convention, and to preventive measures, wherever taken, to prevent or minimize such damage.

Provides that the owner shall not be liable for pollution damage if he proves that the damage: (1) resulted from an act of war, hostilities, civil war, insurrection or a natural phenomenon of an exceptional, inevitable, and irresistible character; or (2) was wholly caused by an act or omission done with intent to cause damage by a third party; or (3) was wholly caused by the negligence or wrongful act of any government or other authority responsibile for the maintenance of lights or other navigational aids in the exercise of that function.

States that if the owner proves that the pollution damage resulted wholly or partially either from an act or omission done with intent to cause damage by the person who suffered the damage or from negligence of that person, the owner may be exonerated, to the same extent, from his liability to such person.

Allows the owner of a ship to limit his liability under this Act in respect to any one incident to an aggregate amount equal to the dollar equivalent of 2,000 francs for each ton of the ship's tonnage; provided that the aggregate amount of an owner's liability in respect of any one incident shall not exceed the dollar equivalent of 210,000,000 francs.

States that if the incident occurred as a result of the actual fault or privity of the owner, he shall not be entitled to avail himself of such limitation provided in this subsection.

Provides that the owner of a ship registered in the United States which is capable of carrying more than two thousand tons of oil in bulk as cargo shall maintain insurance or other financial security in the sums fixed by applying the limits of liability prescribed in this Act.

Authorizes the President to issue a certificate to each ship registered in the United States whic is capable of carrying more than two thousand tons of oil in bulk as cargo attesting that such insurance or other financial security has been obtained.

Stipulates that no ship registered in the United States which is capable of carrying more than two thousand tons of oil in bulk as cargo, and no other ship, wherever registered, actually carrying more than two thousand tons of oil in bulk as cargo, shall enter or leave a port in the United States, or be permitted to arrive at or leave an offshore terminal in the territorial waters of the United States unless the ship has on board a valid certificate issued by the United States or a foreign country party to the Convention.

Provides a civil penalty of not more than $10,000 for a violation of this provision.

Title II: International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage - Establishes an International Oil Pollution Fund for compensation of oil pollution damage. States that contributions to the Fund shall be made by any person who has received more than 150,000 tons of crude oil during the calendar year in the ports or terminal installations of the United States. Provides for contributions to be made to the Fund by specified subsidiaries and commonly controlled entities.

Establishes a civil penalty of $5,000 for any person who is liable to the Fund and fails to make such payment. Authorizes the President to assess and compromise any such penalty.

Provides that any person suffering pollution damage arising out of an incident occurring more than one hundred and twenty days after the entry into force of the Convention shall be entitled to compensation from the Fund if that person has been unable to obtain full and adequate compensation for the damage under the terms of title I of this Act.

States that if the Fund proves that the pollution damage resulted wholly or partially either from an act or omission done with intent to cause damage by the person who suffered damage or from the negligence of that person, the Fund may be exonerated from its obligation to pay compensation to such person.

Provides that the district courts of the United States shall have jurisdiction over actions against the Fund for compensation.

Title III: Apportionment of Claims and Subrogation; Exclusive Remedy; Effective Date - Provides for the apportionment of established claims among the assets of the owner's fund and the compensation fund.

States that this Act shall be effective upon the date of enactment of this Act or the date of entry into force of the Convention, whichever is later.