What size vessel is required to have a Certificate of Financial Responsibility (COFR)?

The correct choice regarding the size of a vessel that is required to have a Certificate of Financial Responsibility (COFR) is 300 gross tons (GT) and above. This requirement is governed by regulations set forth in the Oil Pollution Act of 1990 and related guidelines established by the U.S. Coast Guard. The COFR serves to ensure that a vessel owner has the financial means to cover potential liabilities associated with oil spills and other environmental impacts.

Vessels that exceed this threshold are considered to pose a greater risk to the environment due to their size and capacity for carrying oil or hazardous materials. Consequently, requiring a COFR for these vessels helps promote accountability and environmental stewardship. The 300 GT cutoff ensures that larger vessels, which could cause significant environmental harm if involved in an incident, have the necessary financial backing in place.

The options below this threshold, such as 100 GT, 200 GT, or 400 GT, do not align with the specific regulatory requirements and may not encompass the same level of risk management as outlined for vessels over 300 GT. Therefore, the emphasis on the 300 GT requirement reflects the regulatory intent to mitigate potential environmental damage from larger vessels.