Page 54: of Maritime Reporter Magazine (June 15, 2000)

EARbook • TANkER MARkET REpORT

Existing Tanker Fleet by Dwt./Ownership

Size Range

DWT.

Owner Class

Independent Company Total

No. DWT. No. DWT. No. DWT. 10-19,999 355 5,106,551 172 2,690,387 527 7,796.938 20-29,999 223 6,010,990 146 3,919,343 369 9,930 333 30-39,999 371 12,999,685 141 4,950.060 512 17,949,745 40-49,999 216 9,595,346 122 5 404 614 338 14.999.960 50-59,999 65 3,588,096 26 1,433,943 91 5,022,039 60-69,999 121 7,813,360 54 3.570.028 175 11,383,388 70-74,999 8 568,412 5 359,949 13 928,361 75-89,999 152 12,970,291 68 5.792.061 220 18.762,352 90-99.999 158 15,149,340 32 3,083,580 190 18,232,920 100-109,999 99 10,435,014 26 2,731,138 125 13.166 152 110-119,999 25 2,818,124 8 921,343 33 3,739,467 120-129,999 34 4,262,055 20 2 499 417 54 6 761 472 130-139,999 48 6,532,969 19 2,563,023 67 9,095,992 140-149,999 65 9,439,923 15 2.200,389 80 11 640.312 150-159,999 43 6,624,545 23 3,576,099 66 10,200,644 160-199,999 8 1,436.218 5 871.784 13 2.308.002 200-229,999 2 456,094 4 884,397 6 1,340.491 230-259,999 92 23,056,542 31 7,793,411 123 30.849 953 260-279,999 64 17,374,949 30 8,149.118 94 25,524,067 280-299,999 62 17,958,759 28 8,084,580 90 26,043.339 300-319,999 43 13,170.944 28 8,536,452 71 21,707,396 320-349,999 8 2.644.200 0 0 8 2,644,200 350-399,999 16 5,857,574 2 734,319 18 6,591,893 400,000+ 20 9,079,824 4 1,658,898 24 10,738,722

Total 2,298 204,949,805 1,009 82,408,333 3,307 287,358,138

Source: SS&Y the yearlong tanker scrapping binge experienced in 1999. is serving as a light- ening rod for the "buy new, scrap old" push.

According to data from London ship- broker Simpson. Spence & Young, there were 99 commercial tankers scrapped in 1999, representing 14,358,138-dwt.

Including ships lost at sea (2/177,057- dwt). converted (8/1,378,148-dwt) or listed as "other" (28/1,583,475-dwt), there were a total of 137 tankers repre- senting an aggregate 17.5 million-dwt.

While these totals are indeed impressive and would have been thought to help substantially boost tanker rates and prospects, it must be countered with the fact that there were 194 tankers (19.139,118-dwt) delivered in 1999, leaving the world with a net gain of 57 tankers and about 1.8 million-dwt.

Beyond the literal effects of increased legislation, Erika has had a profound effect on the psyche of companies that own and operate tankers. Despite conclu- sive evidence from such noted and respected sources such as Oslo-based

Intertanko that age in and of itself is not a determinant of a tanker's ability to safe- ly operate, there has been a noticed turn away from 1970's built tonnage and a preference for new ships. Given the explosive public response against all oil carrying companies in the wake of any disaster, it is little wonder that the "buy new" philosophy is as prevalent. Com- bined with the fact that, astonishingly, the price for newbuild tankers has stayed steadied — or in many cases — actually dropped, the fact that shipowners are investing in new tankers should not be a surprise.

ICING-GAGE Marine Systems

Ballast and Tank Level

Indicating Systems for the Marine and Offshore

Oil/Gas Industries a a •PA.

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LiquiSear Purge Control

LiquiSeal Purge Control is a fully integrated level sensor for liquid cargo/service tanks or for draft measurement. External mounting on the tank or at remote location. Rugged brass construction with pneumatic or two wire (4-20 mA) output.

Compressed air required for operation.

LevelBAR"

Replaces Fluid-Filled Gauges

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