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Since the government will no longer allow single-hull vessels to
operate starting next year, several small to medium shipping firms
are applying for tax incentives and other perks to beat the deadline
set by the Board of Investments.
Trade Undersecretary Elmer C. Hernandez, who is
also the Board of Investments managing head, said on Thursday that
shipping companies are rushing to avail themselves of fiscal perks
for their compliance with the regulations laid down by the
International Convention for the Prevention of Pollution from Ships
in 1973 and modified in 1978 (Marpol 73-78).
Marpol 73-78 aims for complete elimination of
pollution of the marine environment by oil and other harmful
substances. The international treaty, which was signed by 88
countries, including the Philippines, in 1994, regulates the
disposal of waters generated by normal operations of vessels.
According to the treaty’s Marina Memorandum
Circular on Oil spillage, all vessels carrying black products must
be double hulled by 2009 and those carrying white products by 2010.
Hernandez said “there is no way but to
comply” to eliminate the danger of pollution on marine life. “In
a move to help them [shipping firms], [we] grant them tax incentives
and other perks to make it easier for them to comply with domestic
and international laws on environmental measures,” he added.
The companies in the Philippines covered by
Marpol 73-78 that have registered for tax incentives and other perks
are Via Marine Corp., which is setting aside P26 million to convert
its single hull oil tanker vessel into double hull; Sun Marine
Corp.’s MT Kathrina oil tanker with an investment of P24 million,
and Terban Marine Corp., which pledged P114 million to convert its
three oil tankers—MT Terban, MT Lorna II, MT Carla III.
Hernandez has urged other shipping companies
that are yet to register with the BOI to take advantage of the
opportunity tendered to the black and white carrying vessels
industry.
-- Katrina Mennen A. Valdez
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