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Wednesday, June 20, 2018

NEW INTERTANKO MEMBERSHIP FEE SYSTEM

The Council meeting in Sydney in April adopted a new membership fee system which was confirmed by the Council meeting in Athens in October.

The Council meeting in Sydney in April adopted a new membership fee system which was confirmed by the Council meeting in Athens in October.

The basis for the new proposal is a combination of a fee per dwt and a fee per ship. The reason for changing from GT to summer dwt is to be consistent with the INTERTANKO policy not to base fees on SBT or double hull spaces.

The new fees will be based on the member's fleet as per 1 January of each year. For existing members no refunds will be given for ships sold or laid up during the year, nor will additional charges be made for tankers acquired after 1 January. For new members joining during the year, a pro-rata fee from the date of the application will be levied.

One significant impact of the change is to smooth discontinuities in the fee structure, in particular for owners of tankers just under or above 50,000 GT. Under the previous system a tanker of 49,000 GT paid USD 1,500, whereas a tanker of 51,000 GT paid USD 3,000.

The fee per dwt and per ship was chosen to minimize the difference compared to the current fee system. Compared to straight average fees per dwt and number, the new system involves a higher fee per ship than per dwt, which is seen to be reasonable as the service is more related to the number of ships than the size of the ships. The weighting is about two-thirds on the number of ships and one-third on the dwt.

The new fees are designed to generate the same income as the old fees, i.e. no increase in income is budgeted. However, minimum fees have increased to USD 5,000, while maximum fees have been reduced from USD 57,500 to USD 52,000.

The adopted fees are:
Rate per ship: USD 1,415
Rate per summer dwt: USD 0.008

For example the total fee for a fleet of 6 tankers with a total dwt 397,433 will be:
(USD 1,410 x 6)+ (USD 0.008 x 397,433) = USD 8,490 + USD 3,1,79 = USD 11,669

Gas tankers and FPSOs/FSOs incur a membership fee of 50%.

Contact: Erik Ranheim