1. INTERTANKO’s Insurance & Legal Committee Presentation by Mr Ken Marshall, Chairman Mr John Fawcett-Ellis, Secretary Paris, 12 January 2005

2. The Committee’s Terms of Reference: Further the common interests of the independent tanker industry with regards to all relevant insurance and liability issues particularly affecting tanker owners Further the common interests of the independent tanker industry with regards to all relevant insurance and liability issues particularly affecting tanker owners Act as a resource group for other INTERTANKO bodies as well as the INTERTANKO office Act as a resource group for other INTERTANKO bodies as well as the INTERTANKO office Whenever possible act as a link between INTERTANKO and the insurance industry and its organisations Whenever possible act as a link between INTERTANKO and the insurance industry and its organisations

3. Committee Members: Mr Ken Marshall (Chairman), Neda Maritime Agency Co. Ltd Mr Terje Adolfsen (Vice-Chairman), Bergesen d.y. ASA Ms Martine Cor (Vice-Chairman), Brostrom Tankers SA Mr Geoff Woodford, N.J. Goulandris Ltd Mr Nicholas Psarros, Ceres Hellenic Shipping Enterprises Mr Spyros Polemis, Seacrest Shipping Co. Mr Bjarte Thorsen, Kristian Gerhard Jebsen Skipsrederi Mr John Dunn, Hellespont Steamship Corporation Mr Bengt Hermelin, Samco (Services) Ltd. Mr Andreas Andreou, Columbia Shipmanagement Ms. Ingela Tengelin, Stena Mr. Giorgio Biassoni, Premuda Ms. Linda Howlett (Observer), International Chamber of Shipping

4. Key liability issues facing the Industry Possible revision to the International Oil Spill Liability and Compensation Regime Possible revision to the International Oil Spill Liability and Compensation Regime Criminal Sanctions – EU Directive Criminal Sanctions – EU Directive Tramp/Liner shipping being subject to EU Competion Rules Tramp/Liner shipping being subject to EU Competion Rules

5. Other Key Issues: Substandard Shipping - P&I’s response to the Coghlin Report Substandard Shipping - P&I’s response to the Coghlin Report War/Terrorism Risks War/Terrorism Risks

6. Thank you www.intertanko.com www.intertanko.com