Current Tanker Market Jeopardizing Tanker Industry

Press Release
Tuesday, November 27, 2012

Tanker owners continue to be deeply concerned that the current tanker market is seriously jeopardizing the sustainability of the tanker industry.


Speaking recently to Intertanko’s Council in London, the Secretary General of the International Maritime Organization (IMO), Koji Sekimizu, pointed out just how much the tanker industry contributes to the world economy. “Without the tanker industry, the world cannot survive - this is fact and reality,” he emphasized.


Intertanko’s Managing Director Katharina Stanzel, went on to say, “The sustainability of the tanker industry is a balancing act between economics, tanker safety, the environment, and the demands of our global society which depends on the safe transportation of liquid energy for its way of life. At our Council meeting, our members made it abundantly clear that tanker operators cannot continue to operate at current freight levels. The issue of tanker industry sustainability should be a topic of public conversation.”  


Senior leaders of the tanker industry agreed that all stakeholders need to be involved to remove distortions in the market to the benefit of everybody. To that end they have tasked the Association to engage with industry stakeholder groups to explore how best to handle the current situation while remaining committed to maintaining the highest standards of safety and quality.  


Intertanko is in discussions with the broking and chartering communities, and will in the near future engage with other tanker industry stakeholders, to consider the critical implications of today’s realities and with a view to redressing imbalances that have developed over time.

 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Asia Dry Bulk Capesize Rates Stay Flat

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability,

ISC Profit Slip in Q2 2014 but Pay Dividend

International Shipholding Corporation (ISC) has announced financial results for the quarter ended June 30, 2014, summarized here: Net Loss he Company reported a net loss of $664,

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

Environmental

Quality hat-trick for GAC Marine Logistics

Global ship spares logistics provider GAC Marine Logistics Inc. (GML) has secured ISO certifications in recognition of its Quality Management, Environmental

BMT Oceanica Wins Major Water Corporation Bid

Marine and coastal environment specialist, BMT Oceanica (BMT), a subsidiary of BMT Group Ltd, is delighted to announce that it has won the bid to provide Ocean

First Panels Installed at Australia’s Biggest Solar Plant

The Australian Renewable Energy Agency today celebrated a major milestone with the installation of the first solar panels at AGL’s large-scale solar plant in Nyngan, NSW.

News

Quality hat-trick for GAC Marine Logistics

Global ship spares logistics provider GAC Marine Logistics Inc. (GML) has secured ISO certifications in recognition of its Quality Management, Environmental

Hellfire Missile Firing a First for New Navy Helicopters

The Royal Australian Navy’s newest maritime combat helicopter, the MH-60R Seahawk ‘Romeo’, has successfully fired its first ‘Hellfire’ missile in the United States.

BMT Oceanica Wins Major Water Corporation Bid

Marine and coastal environment specialist, BMT Oceanica (BMT), a subsidiary of BMT Group Ltd, is delighted to announce that it has won the bid to provide Ocean

Vessels

Pre-Mooring Safety Inspections at Trieste, Italy

The SIOT/TAL Terminal at Trieste has advised that the TAL Pre-Mooring Safety Inspection program will be modified from 1 September. The checks at road will affect:

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

USCG Cutter Waesche Home from RIMPAC Exercises

The Coast Guard Cutter Waesche has returned to port at Coast Guard Base Honolulu, after spending three weeks at sea participating in Rim of the Pacific (RIMPAC) 2014 exercises,

Logistics

Asia Dry Bulk Capesize Rates Stay Flat

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability,

Quality hat-trick for GAC Marine Logistics

Global ship spares logistics provider GAC Marine Logistics Inc. (GML) has secured ISO certifications in recognition of its Quality Management, Environmental

DW to Present at Upcoming Floating LNG 2014, Houston

Douglas-Westwood (DW) says that its manager in Houston, Andrew B. Meyers will be joining the speakers on the platform at the upcoming 27th-30th October 2014 'Floating

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1211 sec (8 req/sec)