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3% of tanker fleet will still be single hulled after 2010

Qingdao: Asia will account for the majority of single hull tankers plying international waters after the IMO phase out deadline expires in 2010.
Intertanko's regional manager for Asia Pacific, Tim Wilkins (pictured), said at the World Shipping Summit in Qingdao that some 3% of the total tanker fleet, around 46m dwt, will still be single hulled come the end of 2010.
Flag states such as Bahamas, Barbados, Liberia, Panama, Marshall Islands, Japan, Singapore and Hong Kong all allow trading of single hull tankers beyond 2010. Panama and Liberia are by some margin the two largest flags with single hull tankers on their books.
In Asia there are a number of countries that have large exposure to this near deceased ship type.
India has around 45% of its oil imports via single hull tankers, while the figure for Thailand is close to 60%, and Taiwan stands at around 30%.
Pointing to the huge ramp up in double hulled tanker orders over the past five years, Wilkins said, 'The dreaded shortage of tankers because of the cut off date has not transpired.'
In loading ports there are fewer and fewer single hull tankers calling and Wilkins pointed out that just yesterday the Port of Fujairah had moved to ban single hull tankers from entry.
'The single hull tanker has very few options left other than recycling,' Wilkins warned.  [13/11/09]
 

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