New tanker generation calls for new rules.

Amid intense competition in the tanker market, ship size and cargo flexibility are key differentiators. As a result, there is a trend among operators to prefer LR2-type tankers which, in contrast to the equally sized Aframax crude oil tankers, have coated tanks. This allows them to carry both "dirty" cargo, such as crude oil or heavy fuel oil, and "clean" cargoes, i.e. petrol (gasoline) or other clean petroleum products.

Typically, cargo owners require...