Circular 1/05: Oil Pollution in the United States Tanker Voyage Additional Premium System - 2005 Policy Year

Outline

  • The additional premium system for tankers carrying persistent oil to or from the United States will continue for the 2005 policy year.
  • Rates have been reduced by approximately 7.5 per cent.

TO THE MEMBERS

Dear Sirs

OIL POLLUTION IN THE UNITED STATES

TANKER VOYAGE ADDITIONAL PREMIUM SYSTEM - 2005 POLICY YEAR

The additional premium system for tankers carrying persistent oil to or from the United States will continue for the 2005 policy year. The new rates (set out below), represent a decrease of just under 7.5 per cent on the 2004 rates.

Last year, the Pool retention was increased from US$30 million to US$50 million. As in 2004 a proportion of the US tanker voyage additional premiums will be allocated to this new layer.

The full text of the US Oil Pollution Clause 20/2/2005 will be set out in an Appendix to the Rules and will be incorporated, by reference, in the Certificates of Entry. As before, a lower rate per ton will apply to tankers equipped with segregated ballast tanks (SBT) in accordance with the requirements of Regulation 13 of Annex 1 to MARPOL 73/78.

non-SBT tankers

SBT tankers

  

(A)

Tankers of more than 1,000 gt

LOOP or lightening

US$0.126

US$0.063

US$0.110

US$0.055

per entered ton each US voyage

per entered ton each US voyage

(B)

Tankers of 1,000 gt or less

Either US$126
or US$2,515

US$111
US$2,219

US$2,013

each US voyage

per annum

(C)

Parcel tankers carrying 5,000 m/t or less of persistent oil as cargo

US$376

US$332

each US voyage

(D)

Parcel tankers carrying between 5,000 and 9,999 m/t of persistent oil as cargo

US$946

US$828

each US voyage

(E)

Parcel tankers carrying more than 10,000 m/t of persistent oil as cargo

US$0.126

US$0.110

per entered ton each US

Yours faithfully

THOMAS MILLER (BERMUDA) LTD.

Contact

  • Members are recommended to contact their usual underwriter if they need to obtain cover for voyages to the United States

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