India phases out single hull tankers

Indian shipping firms will meet a global deadline to phase out all single hull tankers by 2010, but their inability to reinforce fleet numbers may lead to supply constraints in the next few years, industry officials said. In 2005, legislation by the International Maritime Organization, a United Nations body for ship safety, made it mandatory that all single-hull tankers be replaced with double hull by 2010. A double hull ship, in which the bottom and sides have two complete layers of watertight hull surface, is considered a safer bet against oil spill during underwater damage or collisions. G.E. Shipping, the biggest player with 31 tankers, is converting two of its 10 single-hull tankers to double hull. “All shipyards are full till 2011 and they’re mostly building dry bulk carriers. So, if you order a tanker today, it will be delivered only by 2011, which doesn’t make sense,” said Dolat’s Kapil Yadav. Mercator, which has 8 tankers and one on order, is converting one of its single hull tankers to dry cargo bulk vessel, the official said. (May 29, 2008)