Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Sharp_End_Of_Drill who wrote (75375)	10/2/2000 11:57:00 PM
From: Tomas	Read Replies (3) of 95453

"Reducing the world's already depleted tanker fleet could increase oil prices" Ministers agree tougher rules Financial Times, October 3 Dan Bilefsky, Brussels EU transport ministers yesterday agreed tough new measures on maritime safety, including a crackdown on single-hull oil tankers and more stringent inspections of older ships. The measures will be presented at the International Maritime Organisation this week. They follow growing concerns about safety following the sinking of the Erika oil tanker in December, which spilled 3m gallons of heavy fuel oil along 250 miles of Brittany coast. The EU scheme, which calls for the scrapping of single hull tankers more than 23 years old from 2003, is likely to be opposed by the shipping industry, which argues that reducing the world's already depleted tanker fleet could increase oil prices. According to industry estimates about 30 per cent of the world's tanker fleet is now 20 years old and most of it is working close to 100 per cent capacity.

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