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Peter M. Swift
- representing representing responsible oil and responsible oil and chemical tanker owners chemical tanker owners worldwideworldwide
- promoting Safer Ships, promoting Safer Ships, Cleaners Seas and Free Cleaners Seas and Free CompetitionCompetition
-strict membership strict membership criteria based on quality criteria based on quality and performanceand performance
The The International Association of Independent Tanker OwnersInternational Association of Independent Tanker Owners
INTERTANKO INTERTANKO todaytoday• 245 (+/-)245 (+/-) Members Members• 2,2,050050 tankers tankers• 155155 million dwt million dwt • Average age: 13.5 yearsAverage age: 13.5 years• 280(+/-) 280(+/-) Associate MembersAssociate Members• 25 Staff /25 Staff / 8 Consultants8 Consultants
Oslo London Singapore Washington
Tankers in Troubled Waters
Again !
Prestige
Prestige
Prestige
Prestige
The world expects us to have 0 accidents
It takes one accident to change the industry
TODAYTODAY
Annual incidence of accidental tanker spills 1990-2001
Source: ITOPF
Annual quantity of oil lost from tanker accidents 1990-2001 (‘000 tonnes)
Source: ITOPF
Tonnes spilt Tonnes spilt per billion tonne-mile transportedper billion tonne-mile transported
0
10
20
30
40
50
90 91 92 93 94 95 96 97 98 99 00 01
Prestige : Not the last word !
Background and incident
Issues for tanker industry: Accident investigation Places of Refuge Detention of master Unilateral measures – heavy oil
restrictions, accelerated phase-out Other reactions
Tanker fleet double-hull development
Source: INTERTANKO
622
51
75 81
9478
49
25 19
0
20
40
60
80
100
1991 1997 End 02 End 07 End 10
SH share (%)
DH share (%)
Single-hull tanker phase-out comparision IMO 13G – EU proposal
Ship Recycling
AS AN INDUSTRY WE MAY NOT BE LOVED BUT WE ARE NEEDED
• World Oil World Oil Consumption Consumption 3,590 mil ts3,590 mil ts
• Transported by sea Transported by sea 2, 0152, 015 mil tsmil ts
• 5757% transported by sea.% transported by sea.
Freight rates and oil price per barrel
0
10
20
30
40
50
60
70
80
70 72 74 76 78 80 82 84 86 88 90 92 94 96 98 00
Nominal Arabian Light
Deflated Arabian Light
Nominal freight rates
Deflated freight rates
Source: INTERTANKO, IEA
Tanker Industry: Reality
OWNER CHARTERER CLASS
IMAGE PROBLEM !
The Rogues of the Tanker Industry
SHIPBROKER
BUT EVEN WORSE IMAGE !
But - the Pirate is still a hero to many
Tanker Issues
Shipping standards
The good, the bad and … all legitimate
Tanker Issues
Shipping standards
Environmental concerns
Some of the more sensitive areas
Tanker Issues
Shipping standards
Environmental concerns Security issues
Limburg - Yemen, 2002
Critical Oil Movements Security Concerns
Straits of Hormuz 15.5 mbd (14 mbd crude)
Malacca Straits 10 -12 mbd
Red Sea 3.3 mbd
Sumed pipeline 2.2 mbd
Bosporous/Turkish Straits 1.6 up to 2.3 mbd
Druzba / ”Friendship” pipeline 1.2 mbd
Ceyhan pipeline 1.1 mbd
Suez canal 0.9 mbd
Panama canal and pipeline 0.5 mbd
Tanker Issues
Shipping standardsEnvironmental concernsSecurity issues
Liability and criminalisation
Challenges to international law and governance
Tanker Issue
Supply - Demand Balance
and The Market
Tankers in Troubled Waters ?
Tanker industryTanker industry : : Responsibility ChainResponsibility Chain
SHIPOWNER
SHIPYARDS
INSURERS
PILOTS
CARGO OWNER
CHARTERER
PORTAUTHORITIES &
TERMINALS
CLASSSOCIETIES
FLAG STATES
Working together we can make a difference
TakkThank you
www.intertanko.com