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New lease of life for single hull tankers after phase out

New lease of life for single hull tankers after phase out

Hong Kong: Accord Shipmanagement is forecasting a surge of interest in single hull tankers across the world as the vessels are phased out this year.

'We are receiving enquiries from countries around the world where owners want to utilise single hull tankers in their territorial waters for transhipment purposes. Demand is mostly for use in the crude oil sector, "said Sanjay Shesh, Managing Director of Accord Shipmanagement.

"We are working with owners in India and Nigeria who want to use the vessels to  transship oil to and from smaller lighters due to draught restrictions in river estuaries or tidal ports. We've also had enquiries from Latin America," added Shesh.

A revised IMO regulation allows the use of single hull vessels as long as the flag administration sanctions the vessel for this purpose. Vessels cannot be older than 25 years and must pass the Condition Assessment Scheme administered by the vessel's flag.

'Accord has many older vessels under its management and well maintained vessels with proper supervision can have an extended life as transshipment vessels." he added .

Accord was founded n 1992, by a team of dedicated and experienced maritime professionals. The company's objective is to provide personalized ship management services with a focus on adding value to customers operations. Accord is headquartered in Hong Kong with offices in Mumbai and Goa.  [24/05/10]