HELLENIC FORUM Athens 19 January 2004 Peter M. Swift

Antitrust Compliance Statement INTERTANKO is firmly committed to maintaining a fair and competitive environment in the world tanker trade, and to adhering to all applicable laws which regulate INTERTANKO’s and its members’ activities in this market. These laws include the antitrust laws, which the US, the European Economic Community and many nations of the world have adopted to preserve the free enterprise system, promote competition and protect the public from monopolistic and other restrictive trade practices. This meeting will be conducted in compliance with INTERTANKO’s antitrust guidelines.

2004 : DATES FOR THE DIARY January 20Athens Legal and Insurance Seminar February 25 ShanghaiAsian Regional Panel February 26-27ShanghaiMare Forum / Tradewinds Conference “Exploring Maritime Business in China” March 28-31DubaiAnnual Tanker Event Executive Committee, Council & AGM May 20-21MoscowTanker Seminar July 1 (TBC)LisbonVetting Seminar October 27-28AmsterdamExecutive Committee & Council October 29AmsterdamMare Forum “ShipFinance 2004” (Free registration for Members)

Council Agenda (Sept 2003) Selection of Flag Tripartite meeting - owners, builders and class Q88 contract / Terminal Vetting report Executive Committee election and procedures INTERTANKO/INTERCARGO joint secretariat Maritime Security Prestige and regulatory developments New membership criteria 2004 Work Programme

Industry Flag State Guidelines

Permanent Means of Access New construction from January 2005 Bulk Carriers > 20,000 GT Tankers > 500 GT (Cargo tanks, Water ballast tanks) [An exceptionally good initiative..... with a bad outcome in the form of rigid and impractical requirements]

ASSEMBLY - 23rd Session PERMANENT MEANS OF ACCESS Submitted by BIMCO, ICS, INTERCARGO, INTERTANKO, and OCIMF Executive Summary: This paper advises the Assembly of concern about the SOLAS amendments on Permanent Means of Access, and explains why the industry believes that the amendments should be reconsidered. BIMCO, ICS, INTERCARGO, INTERTANKO and OCIMF (“the industry”) draw the attention of the Assembly to their difficulty with the amendments to SOLAS and the associated Technical Provisions on Permanent Means of Access (PMA), which were adopted at the 76th session of the Maritime Safety Committee in December The amendments are due to enter into force on 1 July 2004 and to take effect from 1 January The industry welcomes the recent submission from Greece to the Secretary General (Circular letter 2509 dated 12 November 2003) proposing new technical provisions and urging that the Maritime Safety Committee should re-examine the matter. It is widely accepted that improved means of access to facilitate inspection of cargo and ballast tanks and holds in tankers and bulk carriers is a desirable goal. The industry fully supports the adoption of effective regulations to enhance inspection arrangements in a safe and practical manner. However, close examination of the regulations as worded indicates that the current Technical Provisions are too prescriptive and, contrary to the objective of the regulation, will introduce hazards rather than improve safety.

Q88 Tanker questionnaire generator New service for members

Terminal Vetting Database

Chairman - Nominate Mr Stephen Van Dyck (60) Chairman and a major shareholder of Maritrans Inc., listed on the NYSE, and operator of 15 ocean going tankers and ATBs Council Member 4 years Member of the Executive Committee and Vice-Chairman of the North American Panel since Since 1985 Chairman of The West of England club & currently Chairman of the Chamber of Shipping of America.

INTERTANKO’s new London office St. Clare House, 30 Minories, London EC3

Visitor desks for members

Multi-function meeting room - also available to members

Other news……….. IOPC: Supplementary “third” tier to be paid by oil receivers – CLC/FC intact Member of IMO Expert Group on Marpol revisions Panama backs down on SOPEP EU reconsiders Penal Sanctions INTERTANKO key note speakers at EC double hull workshop INTERTANKO to host Forum on Reception Facilities INTERTANKO praised by WWF

Other news……….. Productive outcome with Indian Govt. on draft regulations “banning” certain tankers INTERTANKO praised at IMO for MEH Launch of multi-disciplinary discussion on “industry image” Media Response seminars underway Highly successful Chartering seminar in Asia Vetting seminars in Singapore and China(2003), Lisbon (2004) Launch of Chemical Tanker Review Launch of Discussion on Direction Paper

INTERTANKO Today Clear statement of basic aims : -clean seas, safe transport, free competition Acknowledged & respected industry leader & spokesmen : - worldwide Quality focus : -strict membership criteria; solid industry performance record Commitment to Stakeholders : –society, industry partners –partnerships with regulators, other industry players, other associations

INTERTANKO Objectives To be recognized by all sectors of the maritime industry and by governments as the authoritative voice of the international tanker industry. To actively support, and when necessary lead, the development and implementation of superior technical and operational standards that encourage the safe transportation of energy and chemical products. To promote a positive public image of the tanker industry through educational and related initiatives that encourage a wider understanding of the essential role of the tanker operator in supporting the global economy. To be the central coordinating body for the collection and dissemination of regulatory and operational information relevant to the safe transportation of energy and chemical products. To positively reinforce the goals of safe transport, clean seas and free competition to all members, and to encourage their attainment through adherence to the principles of quality management.

Thank you