asked the Minister for Tourism and Transport if there are any plans in hand by Irish Shipping or any other agency to provide vessels of adequate tonnage to carry oil supplies to this country.
Written Answers. - Oil Supplies.
296.
There has been a significant excess of unused tanker capacity on the world market for some time and the consequential depression in freight rates has caused serious losses for tanker operators. In these circumstances neither of the two State shipping companies has any plans at present to acquire tankers. However, the acquisition of new tonnage is kept constantly under review by the companies in consultation with my Department and should the situation change the question of acquiring tankers would receive fresh consideration.