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Wednesday, November 14, 2018

Continuous improvement of the tanker industry in practice

Building on a theme highlighted by London broker Gibsons in its Weekly Report last week, the tanker industry comes out extremely well in the recently-published Paris Memorandum of Understanding on Port State Control (Paris MoU) report for 2004. 

In 2004, total port state control inspections of all vessel types in this region hit a record number (20,316) with 12,538 individual ships being inspected (also a record). Yet the 64,113 deficiencies observed in 2004 were down from the 71,928 in 2003, and detentions were also down to 1,187, which figure has decreased every year since a peak of 1,431 in 2000. 

However, tankers have outperformed these encouraging trends. Of the 2,060 tankers inspected, only 51 were detained by PSC because of contraventions of regulations in force – which is a 46% improvement over 2003. Tanker detentions as a percentage of inspections were at an all-time low of 2.48%, a figure bettered only by the gas carriers, and an illustration of the continuous improvement the industry is striving for when you compare this with over 4% in 2002 and 2003. This figure is just over one third of the percentage achieved by bulk carriers and just over one quarter of that logged by general dry cargo vessels. 

Put another way, in 2004, the oil tanker sector accounted for 10% of the inspections but only 4% of the detentions.  

Contact: Bill Box