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THE
Magsaysay group has launched the MT Mactan Island, a
brand new double-hull tanker that the company has bought
in compliance with government regulation on oil
transport in Philippine waters.
The
vessel is a $12-million tanker built in China, according
to Roberto Umali, Magsaysay Maritime Corp.’s senior vice
president.
The
vessel is now covered by a time charter deal with
Pilipinas Shell Petroleum Corp., the country’s second-
largest refiner.
The
charter deal is similar to a long-term lease that
involves a fixed fee within a specific time frame. Shell
has chartered the vessel for three years, renewable at
the end of each term. No amount was given for the
charter fee.
The
vessel made its maiden voyage for Pilipinas Shell last
month, Umali said. Metropolitan Bank and Trust Co. gave
Magsaysay credit for the MT Mactan Island. The credit is
payable in 10 years.
The
tanker can load up to 4 million liters of oil, joins a
fleet of double-hull tankers that arrived in the country
shortly after the MT Solar I spilled oil off Guimaras
island in 2006 in compliance with government regulation
to use double hull tankers in transporting oil.
Magsaysay Maritime has two more double-hull tankers in
the pipeline. The first involves acquisition of a
2,000-deadweight ton (DWT), four-year-old Japan-made
tanker. The other is a 1,600- DWT tanker currently being
constructed in Keppel Marine’s shipyard in Batangas.
Both
vessels have been earmarked “for time charter with
Chevron Philippines,” Umali said, adding both will have
their maiden voyage by end of the year.
Double-hull vessels have become the benchmark in
transporting oil in the country after the Maritime
Industry Authority (Marina) outlawed the use of
single-hull tankers by April 30 this year.
At the
moment, Marina still allows single-hull vessels to ply
on Philippine waters, which include those barges plying
the river Pasig. However, those who fail to comply by
April 30 must pay a penalty of P25,000 a day and a
surety bond of P5 million. The bond would be used in
case of an accident.
Petroleum firms, on the other hand, need double-hull
tankers to comply with international and domestic laws
on moving persistent oils, such as crude. But these
firms prefer to charter than own such vessels.
At the
moment, the Magsaysay group, through its subsidiaries
Islas Tankers Shipping Corp. and Batangas Bay Carriers
Inc., has four tankers and nine barges that comply with
the double-hull regulation. |
