The double-hulling of U.S. coastal tank vessel fleets, which is required by the Oil Pollution Act of 1990 (OPA-90), will be virtually complete over the next 3 years. The double-hulling process accelerated over the last 5 years as non-double-hull vessels built during the 1978-1983 boom period reached their OPA-90 phase-out dates. From 2004 to 2007 tank vessel charter rates increased significantly as old, non-double-hull tank vessels were removed from service. However, the deployment of new double-hull vessels and the continuing decline in coastal tanker trades have contributed to the 2008 decline in rates.


    Access

    Access via TIB

    Check availability in my library


    Export, share and cite



    Title :

    Coastal Tank Vessel Market Snapshot, 2009


    Publication date :

    2009


    Size :

    16 pages


    Type of media :

    Report


    Type of material :

    No indication


    Language :

    English