Original research and information on the regulatory framework for the tanker fleet, and the phase out of single-hull vessels.

This is the fifth edition of Tankers in Transition, our report series dealing with MARPOL Regulations 13G and 13H now IMO Revised MARPOL Annex 1, Regulation 20 and Regulation 21) and associated phase out of single hull tankers. Previous reports have documented high profile tanker spills, ensuing regulatory developments and the commercial backdrop with the aim of guiding the reader through the implications of these changes. Along with a summary of the regulations, detailed phase out scenarios and examination of the implications for tanker fleet growth this year’s report deals in detail with the latest twists in the story, with particular emphasis on the potentially dramatic fall out from recent tanker spills, and the effect on the market of the recent frenzy of conversion activity.

A succinct summary allows decision makers to quickly become familiar with the latest situation, while in-depth tables in the Statistical Annex provide an excellent resource reference tool for deeper analysis. The report is due out soon and will be available in hard copy, and an order form and summary of the contents can be found overleaf.

TEN MAJOR ISSUES EXAMINED IN “TANKERS IN TRANSITION 2008”

1. The political effect of recent tanker spills: An examination of the possible effects of the recent spill from the VLCC “Hebei Spirit” off Korea, as major Asian importers claim they will strictly enforce the 2010 cut off - a move that could have a radical effect on the market.
2. The conversion picture – tanker fleet removals: The possible effects of conversions out of the tanker fleet are examined, including a full listing of confirmed and rumoured conversions, with particular emphasis on the current trend for conversion to Very Large Ore Carriers.
3. The regulatory position: A summary of the very latest regulatory position on 6 key issues. As in previous reports, we include an annotated version of MARPOL Regulations 13G and 13H.
4. The phase out schedule: Presented for the entire tanker fleet and the sub-sectors.
5. The 2010 phase out: The critical nature of 2010 phase out is highlighted, with analysis of the ships involved, their age and the latest regulatory position from the countries that have announced their positions with regard to single hull vessels.
6. The tanker supply outlook: A definitive tanker supply outlook till 2010, using phase out data, the orderbook, newbuilding projections and conversion forecasts.
7. Single to double hull conversion: The number and nature of hull type conversions over the past few years are documented.
8. Sub-sector growth: Individual sector growth scenarios are examined, based on phase out and orderbook statistics for each of the tanker sub-sectors.
9. Definition of the Chemical capable fleet: Using CRSL’s new Chemical ship type definitions, the fleet is divided into “Bulk”, “Parcel” and “Chem/Prod” vessels. This is vital for a proper understanding of the small tanker business following the reclassification of Edible Oil cargoes.
10. The commercial outlook for the single hull fleet: The facts about the chartering policy of the oil majors, the spot market discount and the secondhand value of single hull ships. Information on the major owners of single hull ships and those who have been active in the S & P market for single-hull tonnage in the last year.

• Aframax Tanker Sector Report (May 03)
• Ice Class Shipping & Clarksons Russian Oil Map
• Ice Class Shipping 2007
• Ice Class Tanker Sector Report 2006
• MR Product Tanker Sector Report (Feb 03)
• Oil and Tanker Trade Outlook
• Suezmax Tanker Sector Report (Jan 03)
• Tanker Fleet CD
• Tanker Fleet Database
• Tanker Register 2010
• Tankers - End of the 70s Fleet (Sept 04)
• Tankers - IMO Regulation 13G (June 01)
• Tankers - Regulations, Opportunities (Aug 03)
• Tankers - Response to Regulation 13 (Sept 02)
• Tankers in Transition 2006 - (Nov 06)