Plight of tanker sector threatens world economy

NOVEMBER 27, 2012 — “The issue of tanker industry sustainability should be a topic of public conversation,” says INTERTANKO Managing Director Katharina Stanzel.

Tanker owners continue to be deeply concerned that the current tanker market is jeopardizing the sustainability of the tanker industry … and that has repercussions that extend way beyond the tanker industry.

Speaking recently to INTERTANKO’s Council in London,IMO Secretary General  Koji Sekimizu pointed out just how much the tanker industry contributes to the world economy. “Without the tanker industry, the world cannot survive – this is fact and reality,” he said.

“The sustainability of the tanker industry is a balancing act between economics, tanker safety, the environment, and the demands of our global society which depends on the safe transportation of liquid energy for its way of life,” says Ms. Katharina Stanzel.  “At our Council meeting, our members made it abundantly clear that tanker operators cannot continue to operate at current freight levels.”
 
Senior leaders of the tanker industry agreed that all stakeholders need to be involved to remove distortions in the market to the benefit of everybody. They have tasked the Association to engage with industry stakeholder groups to explore how best to handle the current situation while remaining committed to maintaining the highest standards of safety and quality.
   
INTERTANKO is in discussions with the broking and chartering communities, and says it will soon engage with other tanker industry stakeholders to consider the critical implications of today’s realities and with a view to redressing imbalances that have developed over time.