1. INTERTANKO Council meeting ExCel Centre, London 18 September 2003

2. A nervous, volatile market  T ight supply  L ow oil stocks  P olitical tension  D ifferentiation by age  N on-OPEC oil production up

3. Tanker supply  A ge down  D ouble hull tankers in majority  S crapping ahead of phase-out  O rder-book covers phase-out  P hase-out situation unclear

4. Modernisation tankers

5. Tankers by hull 1 Oct 2003

6. Tankers sold for demolition by year built, 15.8 m dwt m dwt 40 1.3 m dwt 127 14.5 m dwt

7. Tankers sold for demolition m dwt number

8. Orderbook by year of delivery number

9. Age profile + 60,000 dwt (366) number

10. Age profile + 5-60,000 dwt (977) number

11. Age profile m dwt Fleet > 5,000 dwt EU phase-out (119) Orders (55) MARPOL (55 m dwt)

12. Phase out by number

13. Phase out by dwt m dwt

14. Phase out EU m dwt

15. Phase out EU m dwt

16. What position should INTERTANKO take on the IMO compromise proposals?