国际航运高级论坛 2008· 上海 WORLD SHIPPING SENIOR FORUM 2008·SHANGHAI Peter M. Swift Managing Director, INTERTANKO

ENERGY TRANSPORTATION: TANKER MARKET DEVELOPMENTS Energy and oil demand Oil supply Tanker supply Key challenges for the Tanker Industry

Primary energy consumption by fuel Billion tonnes oil equivalents

World oil demand mbd

Oil demand by area mbd Source: BP/IEA

Oil consumption per capita Litres per year ,200 1,500 1,800 2,100 2,400 2,700 3,000 USA JapanUKEuropeRussia China

Chinese oil imports Approximately 90% from Middle East, in 2008 Source: BP Review/IEA mbd Products Crude

World’s largest net oil exporters mbd

The importance of oil tanker transportation World Oil Consumption 4.0 billion ts per year Transported by sea 2.6 billion ts per year > 60% transported by sea

Tanker fleet above 10,000 dwt m dwt Source: INTERANKO/Clarkson

Tanker contracting by segment US$ bn Source: Clarkson Shipyard Monitor

Investment in new tankers More than USD 550 billion invested since 2000 with the result that >85% of tanker fleet double hulled in 2010

Tanker removals Source: INTERTANKO m dwt Conversions Small Aframax Suezmax VLCC

Key challenges for the Tanker industry Maintaining an international framework of consistent, high standards Delivering best environmental performance Ensuring availability of good people and quality ships

Maintaining an international framework of consistent, high standards Support for: IMO and international rather than unilateral local, national or regional legislation Ratification of IMO (and ILO) Conventions IMO Member State Audit scheme plus transparency in findings Greater harmonisation and uniformity in procedures across Port State Control regimes, and better targeting procedures Quality Coastal State initiative (to live up to their obligations, - ensuring fair and consistent processes) Development of Common Structural Rules for Tankers & Bulkers Uniformity in classification societies of requirements, standards and interpretations, survey procedures, etc. Greater uniformity in chartering practices and standards

Delivering best environmental performance Anti-fouling systems Ballast Water management Biofouling Ship Recycling Port Reception Facilities (adequacy & affordability) Waste management (onboard and ashore) Marine Noise pollution Whale strikes Spill Prevention and Response Planning VOC emission reductions Exhaust Gas emissions (Annex VI & its revisions) Green House Gas emissions

Green House Gas Emissions Complex issue for all shipowners Challenging for the IMO EU pressing for action Major economic driver

Shipping’s GREEN Credentials This car, weighing one tonne, uses 1 litre of fuel to move 20 kms This oil tanker uses 1 litre of fuel to move one tonne of cargo 2,500 kms –more than twice as far as 20 years ago

Gasoline price at the pump in Germany Bunker price Rotterdam Source: IEA/Clarkson US$ per tonne€ per litre Change in gasoline price 2008/2000: +50% Change in bunker price 2008/2000: +375% Jul Gasoline price Germany € per litre Bunker price Rotterdam US$ per tonne

Ensuring availability of good people - recruitment, training and retention Initiatives covering: Cadet berths and training facilities to be provided on ALL new ships Maximum utilisation of cadet berths on existing ships Tanker Officer Training Standards (TOTS), covering proficiency and experience Raising awareness of the industry, (

Ensuring availability of good people - welfare and well-being Initiatives covering: Unjustified criminalisation, including challenges through the courts Support for IMO-ILO guidelines on Fair Treatment of Seafarers (in event of Maritime Accident) Improved conditions for shore access when security constraints active Reduction in number of inspections Lessening the technical and operational burden of equipment, systems and associated paperwork Guidelines for safe handling of cargoes and fuels, tank cleaning and entry Guidelines on implementing ILO Convention on “work and rest hours” Higher standards of accommodation as industry “norms”

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Encouraging Ratification by States of International Conventions IMO Conventions including: International Convention on the Control of Harmful Anti-fouling Systems on Ships (AFS), 2001 (*) International Convention for the Control and Management of Ships’ Ballast Water and Sediments, 2004 Annex VI: Prevention of Air Pollution from Ships, 1996: International Convention for the Prevention of Pollution from Ships, 1973, as modified by the Protocol of 1978 relating thereto (MARPOL 73/78) (*) !996 Protocol to Convention on Limitation of Liability for Maritime Claims (LLMC), 1976 (*)Even though Entered/Entering into Force

Encouraging Ratification by States of International Conventions Continued: IMO Conventions including: International Convention on Civil Liability for Oil Pollution Damage (CLC), 1969 International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage (FUND), 1971 International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by Sea (HNS), 1996 International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001 (*) ILO Convention(s): Seafarers' Identity Documents Convention (Revised), (C185), 2003 Maritime Labour Convention, (MLC) 2006 (*) Even though Entered/Entering into Force