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Tanker Market Outlook 2005

Tanker Market Outlook 2005. Key Concerns Facing the Tanker Industry - An INTERTANKO Perspective By John C. Fawcett-Ellis General Counsel & Regional Manager Asia-Pacific Singapore, 27 September 2005. representing responsible oil and chemical tanker owners worldwide

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Tanker Market Outlook 2005

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  1. Tanker Market Outlook 2005 Key Concerns Facing the Tanker Industry - An INTERTANKO Perspective By John C. Fawcett-Ellis General Counsel & Regional Manager Asia-Pacific Singapore, 27 September 2005

  2. representing responsible oil and chemical tanker owners worldwide • promoting Safer Ships, CleanerSeas and Free Competition

  3. strict membership criteria based on quality and performance

  4. The strength of INTERTANKO • 230 members – operating some 2,200 tankers • 280 associate members • 26 staff lead by MD – Dr P Swift • Oslo, London, S’pore and Washington DC • Chairman – Mr S Van Dyck • 14 committees • 4 regional panel

  5. INTERTANKO’s vision for the tanker industry: “ A responsible, sustainable and respected industry able to influence its own destiny.”

  6. Key industry goals • Regulatory environment which supports safe shipping operations, environmental protection and adherence to internationally adopted standards and procedures • Properly considered international regulation of shipping • Global regulation for a global industry, adopted and implemented uniformly

  7. AGENDA • Maintaining Supremacy of IMO & International Maritime Law • Common Structural Rules & Goal Based Standards • Criminalisation of Seafarers • Challenges to Industry Governance Structures • Other: • People issues Piracy • Ship Recycling Environmental Challenges • Competition Rules Security • Oil Pollution Liability & Compensation

  8. Maintaining Supremacy of IMO & International Maritime Law Against the challenges of Local and Regional Legislation

  9. Increasing politicization of regulation Examples: • Phase out of single hull tankers • West European Particularly Sensitive Sea Area • Moves to open up CLC/Fund Convention and link with substandard shipping • Penal sanctions adopted by EU, criminalising accidental pollution Why? • Coastal state interests versus flag states, and reduced influence of maritime constituency • Power of EU Commission

  10. THE EUROPEAN INSTITUTIONS& the power plays Commission (The executive) EMSA European Parliament (Direct election) Council (Member States)

  11. HOW IT WAS: Examples of positive regulatory developments (the “IMO spirit”) • ISM Code and STCW (training) Outcomes broadly based on technical merits of arguments put forward. Industry viewpoint understood, if not always accepted.

  12. HOW IT IS: The Challenges Today • More political drivers and less consideration of the technical, operational, and commercial interests • More unworkable, inconsistent and illogical regulation and less consideration of the practical aspects • More pressure for local / regional regulation and less willingness to adopt and apply international regulation

  13. Maintaining Supremacy of IMO & International Maritime Law What are the threats? • 15 Years Ago the United States (OPA90) • Today the European Union • Politics post Erika and Prestige • Conflict with International legislation (UNCLOS, MARPOL) • Criminalisation • EU Commission proposals for EU Common Position at IMO

  14. Meeting Society’s expectations ( “ our licence to trade”) - including the environmental challenges

  15. The world expects us tohave 0accidents. Even though 99.9997% of oil is delivered safely It takes only one accident to change the industry

  16. Tanker incidents: 1978-03 Number Source: LMIS, Informa, press, INTERTANKO

  17. Development of tanker oil spills Source: ITOPF. Number of spills above 700 tonnes.

  18. Accidental oil pollution from tankers and tanker trade m ts spilt 1000 bn tm Source: ITOPF, Fearnleys

  19. Key issues for Tanker Owners • Meeting Society’s expectations ( “ our licence to trade”) • - including the environmental challenges • Maintaining International versus Regional and Local legislation • Overhauling the governance structure of the industry: • - Class, Flag, Port State Control • Reversing the trend to increased criminalisation • Ensuring the commitment of all stakeholders to continuous improvement

  20. Commitment to Continuous Improvement by all stakeholders in the maritime businesses Designers Shipbuilders Class Equipment Suppliers Financiers / Guarantors Charterers Operator/Manager Owner P&I Hull insurers Cargo Owners Brokers Flag states Waterways authorities Coastal States Ports & Terminals Labour providers Tug operators Bunker suppliers Pilots Agents Salvers Paint Suppliers Repairers Spill Response Ship Breakers

  21. Tanker Event 2006 Singapore 29-31 March 2005 The Poseidon Challenge

  22. INTERTANKO Publications • Guide to bunkering of ships for the purposes of Annex VI to MARPOL • A Guide for correct entries in the Oil Record Book • A Guide to Tanker Charters • Tanker Bills of Lading - A Practical Guide • Guiding Principles to Emergency Management and Crisis Communications

  23. Thank you www.intertanko.com

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