Some very interesting facts and figures from INTERTANKO'S recent annual meeting:
- 93% of demand growth for fuel over the next 20 years will be from the developing world;
- 80% of fuel will still be fossil fuels in 2030;
- 27% of energy will be provided by each of oil, coal and gas in 2030 (while oil and coal are falling, gas is rising and biofuel growth will slow down by 2030 because supply of arable land will be exhausted unless new technology comes along);
- China and India import dependency is set to rise substantially;
- The scale of the piracy problem is like policing an area size of Western Europe with 15 police cars;
- 80% of pirate attacks are repelled by employing best management practices supported by armed guards;
- Average ransoms are now $5.4m against $3.2m in 2009, $150k in 2005, with a $9.5m record.
