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North American Panel 17 March 2008 Stamford, CT.

North American Panel 17 March 2008 Stamford, CT. Peter M. Swift. X.

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North American Panel 17 March 2008 Stamford, CT.

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  1. North American Panel17 March 2008Stamford, CT. Peter M. Swift

  2. X MD Overview - INTERTANKO ISSUES- Compliance Law- Air Emissions- Environmental Issues- Human Element- Association- Industry developments- 2007 Incident statistics- European legislative update- Load Lines - South African coast- Diary Dates √ International Association of Independent Tanker Owners

  3. MD OverviewINTERTANKO UPDATEMembershipFinancesPanel ReorganisationSecretariat International Association of Independent Tanker Owners

  4. Industry Developments

  5. Move to Double Hulls • More than USD 500 billion invested since 2000 with the result that ~95% of tanker fleet double hulled in 2010 Assumed all SH tankers phased out by 2010

  6. Average age tankers above 10,000 dwt(1970-2007) 16 14 12 10 8 6 1970 1973 1976 1979 1982 1985 1988 1991 1994 1997 2000 2003 2006 Years

  7. Options today Conversion to - DH Tanker - FSU/FPSO - Bulk Carrier Recycling Continued Trading Continued Trading Subject to (i) Flag state and (ii) Coastal state acceptability after 2010 But now uncertainty over Korea Japan China India Others Future for Single Hulls

  8. 2007 Incident Statistics

  9. Tanker incidents 2007 by type and accidental pollution No. incidents 1000 ts oil pollution Source: INTERTANKO/LMIU/ITOPF/various

  10. Accidental oil pollution into the sea bn tonne-m 1000 ts spilt -45% -33% -82% Reduction per tonne miles Source: ITOPF/Fearnleys

  11. Reported tanker incidents Number Source: INTERTANKO/LMIU/various

  12. Tanker incidents 2007 by type Source: INTERTANKO/LMIU/various

  13. Tanker incidents 2007 by size 325 incidents

  14. Tanker incidents 2007 by age 13% Incidents/no tankers: 33% 21% 33% 325 incidents

  15. Incidents 2007 by type tanker Number Source: INTERTANKO/LMIU/various

  16. Tanker engine related incidents 2007 2006 2005 Below 10,000 2004 10-29,999 dwt 2003 30-99,999 dwt Above 100,000 dwt 2002 0 10 20 30 40 50 60 No 2007 incidents by % of fleet per 000 dwt category: Source: INTERTANKO/LMIU/various

  17. Tanker incidents: engine related 2007 Built: 2006 1970s 1980s 2005 1990s 2004 2000s NK 2003 2002 0 10 20 30 40 50 60 No 2007 incidents by % of fleet per decade of build: Source: INTERTANKO/LMIU/various

  18. European Legislative Update

  19. European Legislative Update • Ship Source Pollution Directive (2005/35/EC) and Framework Decision - “criminalises accidental pollution” • challenged by coalition of industry partners on basis of conflict with MARPOL and UNCLOS, jurisdictional limitations and legal certainty • ECJ upholds view that Framework decision should be incorporated within Directive • ECJ opines that Directive may be in conflict with MARPOL but EU not signature per se to MARPOL – final ruling awaited • EU Commission revises Directive to incorporate Framework decision requiring EU States to introduce penalties on “natural persons” that are “effective, dissuasive and proportionate” • ECJ ruling on challenge awaited • uncertain future, since Lisbon Treaty (the substitute for an EU constitution) introduces the possibility for harmonised criminal sanctions for environmental crimes across Europe, i.e. the Directive is subject to possible further revision.

  20. European Legislative Update • Erika Case • criminal penalties assessed against charterer, owner and class (but not Master) • in the view of the French court there are “gaps” in international law with respect to liability of charterer, class et al - BUT now subject to appeal • ECJ to rule on Ship waste - ECJ opines that HFO mixed with seawater et al is “waste” within definition of EU Directive 96/350/EC and “polluter pays” principle should be upheld - recognition that this challenges CLC/FC liability solely of owners and also: • Challenges to Limitation of Liability - EU Commission/EU Parliament effectively routinely challenging owners’ right to limit liability -applies equally to classification societies et al • Importance of ratifying International Conventions - e.g. LLMC, Bunkers Convention (will now enter in to force), HNS (hopefully via a new HNS Protocol), as well as others such as Annex VI

  21. Load Lines – South African Coast

  22. Load Lines - South African Coast 20 NM 16 Apr – 15 Oct = WINTER 16 Oct – 15 Apr = SUMMER

  23. Load Line Chart Zone

  24. Diary Dates

  25. 2008 Association Dates APRIL - ISTANBUL 20 Golf tournament Bosphorus Cruise Associate Members’ meeting 21ExCom/Council Focus sessions – Chemical Shipping, Shipbuilding, EU Competition Law, Vetting, Human Element, Air Emissions. 22-23 Tanker Event 22 State of the industry Poseidon Challenge AGM 23 Poseidon Challenge Oil & Market session 22 Tanker Chartering seminar 21-23 Partner’s programme NOVEMBER – LONDON 17-18ExCom/Council, London

  26. THANK YOU For more information, please visit: www.intertanko.com www.poseidonchallenge.com www.shippingfacts.com www.maritimefoundation.com

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