Marine

6.9, vessel to be scrapped

Philippines: Batangas Bay Carriers, the owner and operator of product tanker Malitam , has reversed its decision to repair the vessel following reports that the government will require all domestic tankers to have double-hulls by 2008. Malitam is a single-hulled, double-bottom tanker. Batangas Bay officials said that it would not make sense to spend on repairs if the vessel will have to be scrapped in two years. Ongoing repairs were put on hold until a final decision is made. Batangas Bay is now considering declaring the vessel a constructive total loss so they can collect on the hull insurance. The proceeds could then be used to purchase a double-hulled tanker to meet local safety standards.