Circular No. 1/99 - Voyage Surcharges for U.S. Trading Tankers
JANUARY 18, 1999
CIRCULAR NO. 1/99
TO MEMBERS OF THE ASSOCIATION
VOYAGE SURCHARGES FOR U.S. TRADING TANKERS: 1999 POLICY YEAR
The current system of charging voyage surcharges for tankers trading to the United States will continue for the next policy year.
As is the case at present, a differential will apply as between those vessels which have segregated ballast tanks (SBT) and those which are not so equipped. In order to qualify for the lower rates applicable to the SBT category of tonnage, a vessel must be equipped with segregated ballast tanks as defined by Regulation 13 of Annex 1 to MARPOL 73/78.
Tankers with SBT will attract a surcharge of US $0.11 per gross ton per voyage in 1999, down from US $0.14 in 1998. Non-SBT tankers will pay US $0.13 per gross ton per voyage in 1999, down from US $0.16 in 1998. As is the case in the current year, a 20 voyage "cap" will continue to apply. Equally, the 50% reduction for tankers calling at the Louisiana Offshore Oil Port (LOOP) or other designated lightening areas will continue.
Members may find the following table to be of assistance in setting out the 1999 policy year arrangements.
The footnote overleaf contains the definitions which apply to the terms used above.
The Managers will be pleased to respond to any questions Members may have in regard to the above, or generally.
Joseph E.M. Hughes, Chairman & CEO