September 24, 2003

INTERTANKO and INTERCARGO to share Secretariat
INTERTANKO (which represents tanker shipping interests) and INTERCARGO (which represents dry bulk shipping interests) have agreed to administrative and policy changes that will see creation of a single secretariat for the two associations. It will be headed by INTERTANKO's Dr. Peter Swift.

The two associations say they will continue to maintain their respective independent identities and areas of expertise. Each will continue to have its own Managing Director or Secretary-General and Chairmen. Roger Holt, Secretary-General of INTERCARGO, will continue to act as the focal point for dry cargo matters.

Speaking at a joint dinner organized for 130 members of both associations in London, INTERTANKO's Chairman, Lars Carlsson, welcomed the move, saying:

"The opportunity to embrace change and to work more closely together will bring benefits to members of both associations and will serve to further our vision in the field of quality and safety. Together with our colleagues in the Round Table associations, the international shipping community has demanded a change for the better in these two aims. Creating synergy between INTERCARGO and INTERTANKO will help achieve this objective"

Also welcoming the move was Intercargo's Chairman, Frederick Tsaom who said: "Unlocking the potential from a single secretariat structure without creating a merger situation and retaining the names of INTERTANKO and INTERCARGO--long since identified with the cause of quality and safety--will be enormously beneficial to our memberships."

The INTERCARGO and INTERTANKO secretariats will move into new shared offices at St Clare House, 30-33 Minories, London EC3 with effect from October 1, 2003.

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