Tankers will be ready for new Anti-Terror Law

The new maritime anti-terror law which is due to be enforced starting July 1, may hinder the flow of oil exports. But according to Peter Swift of the International Association of Independent Tanker Owners it won’t be due to the tankers.

The new United Nations’ strident security requirements, known as the International Ship and Port Facility Security (ISPS) code, are mandatory for all merchant ships and ports engaged in global trade. “In the oil world we are very confident that tanker-wise we will be ready for the deadline,” said Swift. “There is certainly more concern about ports (meeting the deadline) than the ship side, but oil will still flow,” said Swift whose association represents 70% of the world’s fleet of oil, chemical, and gas tankers engaged in international trade. Of the association’s 1,468 tankers, 73% have submitted security plans and 59% of those have been approved.

Concerns of whether some nations’ ships as well as ports and oil terminals will be ready by the deadline are growing. The US intends to aggressively enforce the code. The US Coast Guard has said that there is a good chance that it will turn ships and oil tankers away from its shores that flout the code or that have called at non-compliant ports.