We transport our products across oceans, around coastlines and along
waterways using a combination of BP-operated, time-chartered and
spot-chartered vessels. All vessels conducting BP activities are subject to
our health, safety, security and environmental requirements. The primary
purpose of our shipping and chartering activities is the transportation of
our hydrocarbon products. In addition, we may use surplus capacity to
transport third-party products. In December 2013, BP announced it had
signed a contract with Hyundai Mipo Dockyard Co., Ltd to build 14 new
product tankers in Korea. The first of these will be delivered in 2016.