LLOYD'S: U.S. FIRMS DELAY TANKER REPLACEMENTS

Major U.S. oil companies are delaying replacement of tanker fleets despite phased retirement of single hull vessels operating in U.S. waters as required by the Oil Pollution Act (OPA) of 1990. Majors are taking a cautious approach to new tonnage commitments even as their fleets shrink, says Lloyd's Shipping Economist, London. While further tanker orders are expected from Texaco Inc., Mobil Corp., Chevron Corp., and Exxon Corp., there will be no rush.

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