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INTERTANKO Council meeting ExCel Centre, London 18 September 2003

Key topics discussed at the INTERTANKO Council meeting in London on 18th September 2003 include tight oil supply, political tensions, tanker differentiation by age, and the uncertainty around phase-outs. The market was marked by fluctuating tanker supplies, modernization efforts, and scrapping activities, with specific attention to age profiles of tankers and phase-out regulations. What stance should INTERTANKO adopt on the IMO compromise proposals?

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INTERTANKO Council meeting ExCel Centre, London 18 September 2003

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  1. INTERTANKO Council meeting • ExCel Centre, London • 18 September 2003

  2. Tight supply Low oil stocks Political tension Differentiation by age Non-OPEC oil production up • A nervous, volatile market

  3. Age down Double hull tankers in majority Scrapping ahead of phase-out Order-book covers phase-out Phase-out situation unclear • Tanker supply

  4. Modernisation tankers

  5. Tankers by hull 1 Oct 2003

  6. Tankers sold for demolition by year built, 15.8 m dwt m dwt 40 1.3 m dwt 127 14.5 m dwt

  7. Tankers sold for demolition number m dwt

  8. Orderbook by year of delivery number

  9. Age profile + 60,000 dwt (366) number

  10. Age profile + 5-60,000 dwt (977) number

  11. Age profile m dwt EU phase-out (119) MARPOL (55 m dwt) Orders (55) Fleet > 5,000 dwt

  12. Phase out by number

  13. Phase out by dwt m dwt

  14. Phase out EU m dwt

  15. Phase out EU m dwt

  16. What position should INTERTANKO take on the IMO compromise proposals?

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