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The vetting committee has produced an “age requirement “document based upon the comments and information supplied by the vetting committee members with regards to various oil companies, terminals, and ports and country age limitation requirements which has been made available to INTERTANKO members but is primarily aimed at assisting the working group in its work related matters concerning age requirements for tankers. The recent 7th edition of “A Guide to the vetting process” has also formally collated the various age requirements in the recent edition. However, the matter has been extensively discussed at INTERTANKO Council meetings and through the vetting committee, as a result it is recognised that the “age” requirements are simply political requirements and are not reflective of the fact that a well maintained older vessel is a better vessel than a younger vessel which is not maintained.

Therefore the methodology employed to address this issue is in cooperation with the Environmental Committee through in locating and identifying existing reports regarding the environmental life impact analysis of a vessel. In other words the “Life cycle carbon footprint of a tanker”, we believe that as more and more age criterion become the norm and as age limitations reduce, this in turn will self perpetuate more new buildings to be produced and more buildings to be re-cycled thus creating a negative effect upon the environment. By being able to demonstrate that the shorter the ships life cycle is then by default the grater the impact this will have on the environment through the ships production carbon footprint

The committee is invited to take note

10.

HNS CONVENTION – ENTRY INTO FORCE AND INTERACTION WITH THE BUNKER CONVENTION

As requested the secretariat has investigated the matter and although this is being assessed by the legal committee the secretariat has attached excerpts from a presentation by the HNS Convention (please refer to www.hnsconvention.org for further information).

Attached in Appendix 8 are extracts from a presentation made by IOPC Funds (available at www.hnsconvention.org ) which contribute towards explaining how the HNS Convention works and how it interacts with the other fund conventions in existence.

Full details and guidance regarding the HNS OPRC Protocol is included on the INTERTANKO web site at the following link which has being widely circulated :

http://www.intertanko.com/templates/intertanko/issue.aspx?id=25918

This matter is being handled by the INTERTANKO Legal committee which will comment in further detail in the future.

The committee is invited to review and note.

11.

REPORTS FROM THE WG’S

11.1

FOSFA Banned Last Cargo (Stainless Steel) Working group

The secretary has been in discussion with FOSFA regarding its review o the working groups report and the filed tests carried out. The conclusions at the current time are that the proposals to amend the banned last cargo system would not be appropriate at this time.

11.2

BEST MANAGEMENT GROUP Reduction of cargo vapour emission during Tank Cleaning

Agenda for the CTC #32Page 9 of 39

To be held in Panama City on the 09 April 2008 Issue No. 1

Our Ref.: AGO­­­­-22713­­/1000003Approved by: H.N. Snaith

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