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Suggested Citation:"Appendix I." National Research Council. 1998. Double-Hull Tanker Legislation: An Assessment of the Oil Pollution Act of 1990. Washington, DC: The National Academies Press. doi: 10.17226/5798.
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APPENDIX I Letter to the Committee from R.W. Porter

LONDON TANKER BROKERS' PANEL LIMITED

Directors:

E.F. Shawyer

(Chairman)

M.G, Johnson

A.G. Burgess

R.W. Park

C. Waaler

I.M. Shaw

R.W. Porter (Managing)

Prince Rupert House 64 Queen Street LONDON EC4R 1AD Telephone: 0171-248 4747 Telex: 885118 G Fax: 0171-489 0536

25th April 1996

Our Ref: RWP/EAL

Your Ref: MB-96-528

Mr. D. Wolcott

Chair, Committee on OPA 90 (Sn 4115)

Marine Board

National Research Council

2101 Constitution Avenue Washington D.C. 20418

Dear Mr. Wolcott

We thank you for your letter to Mr. Eric Shawyer, Chairman of the London Tanker Brokers' Panel Limited of 5th April 1996 regarding evaluating various aspects of the international tanker market. Your letter has been distributed to all Members of the LTBP and discussed at length at a recent meeting of the LTBP. The Panel Members have asked me to reply on their behalf.

The research required to attempt to evaluate any variations in the world tanker market for the specific points you require would be extremely extensive in nature and unlikely to provide meaningful results as there is no obvious differentiation on the basis of hull type, age etc., in market negotiations with charterers taking decisions on the acceptability of individual vessels on a wide variety of bases backed up by varying degrees of physical inspection and documentary investigation. Anecdotal evidence would suggest that in an otherwise free choice, a charter would

Suggested Citation:"Appendix I." National Research Council. 1998. Double-Hull Tanker Legislation: An Assessment of the Oil Pollution Act of 1990. Washington, DC: The National Academies Press. doi: 10.17226/5798.
×

choose to utilise the youngest, most technically sound vessel available whilst paying the same "market" freight rate applicable to all the vessels available.

A recent regional variation of note illustrates this point in that whilst Korean authorities have imposed a 20 year age limit on vessels entering their water there is no definite evidence that this has affected the "market freight rates applicable to such voyages.

In summary it is true that there are suggestions that hull type, age etc., influences the freight rates paid in particular markets such variations, if they exist, are not apparent in the available market reports. It is not clear whether the significant resources which would be required to be allocated to this sort of investigation would provide any useful or meaningful results given the above reservations.

On a more general note it has always been the LTBP's policy not to express an opinion on tanker market matters but to provide specific responses, based on the available market information, to a specific query from a client and Members would be reluctant to alter this situation. It may well be the case that the individual companies which provide expertise to the Panel may not share this reticence.

We regret that we are unable to give definitive answers to your queries but hope that the above information is of some assistance to your committee.

Please do not hesitate to ask if you feel there is something the Panel could assist with.

Yours sincerely

LONDON TANKER BROKERS' PANEL LIMITED

R.W. Porter

Managing Director

Suggested Citation:"Appendix I." National Research Council. 1998. Double-Hull Tanker Legislation: An Assessment of the Oil Pollution Act of 1990. Washington, DC: The National Academies Press. doi: 10.17226/5798.
×
Page185
Suggested Citation:"Appendix I." National Research Council. 1998. Double-Hull Tanker Legislation: An Assessment of the Oil Pollution Act of 1990. Washington, DC: The National Academies Press. doi: 10.17226/5798.
×
Page186
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The passage of the Oil Pollution Act of 1990 (OPA 90) by Congress and subsequent modifications of international maritime regulations resulted in a far-reaching change in the design of tank vessels. Double-hull rather than single-hull tankers are now the industry standard, and nearly all ships in the world maritime oil transportation fleet are expected to have double hulls by about 2020.

This book assesses the impact of the double hull and related provisions of OPA 90 on ship safety, protection of the marine environment, and the economic viability and operational makeup of the maritime oil transportation industry. The influence of international conventions on tank vessel design and operation is addressed. Owners and operators of domestic and international tank vessel fleets, shipyard operators, marine architects, classification societies, environmentalists, and state and federal regulators will find this book useful.

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