THE tanker industry is bracing for tough times ahead.
It faces a new requirement that needs massive investment as well as a new law that requires contribution to a fund that will help fight pollution caused by oil pills.
The double-hull double-bottom vessel requirement for all local tankers carrying persistent oil will be in effect by April 2008. Republic Act 9483 or the Oil Pollution Compensation Fund (OPMF), on the other hand, mandates that P0.10 per liter per delivery of oil will go to the fund.
“It’s really a double whammy,” Maritime Industry Authority (Marina) deputy administrator for Operations Col. Primo Rivera told PortCalls.
“Tanker operators are really being burdened by the two orders as both require huge amounts of money that will eat up majority of their revenues,” he said.
“How can they refleet and source the fund to pay for the double-hull tankers if one-third of the freight revenue is contributed to the local oil fund?” Rivera asked.
“Marina, despite being tasked to craft the implementing guidelines of RA 9483, is siding with the tankers this time and we are helping them as much as we can to prolong the implementation of the law (so they can) look for ways to cushion the law’s impact,” Rivera said.
He added the immediate implementation of the oil pollution law is unwise at this time as the insurance coverage of tanker operators is enough to answer for any liabilities during an oil spill.
Rivera, a former Navy officer before joining Marina, said the government should have implemented a calibrated approach to the oil pollution act starting from persistent oil instead of a sweeping order covering all kinds of oil.
The tanker operators claim their members are starting to look for other businesses since starting a new one may be cheaper.
They are at the same time looking for legal redress once RA 9483 is implemented.
