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TANKER VETTING

Ship vetting is an in-depth assessment of a ship's quality and suitability for a task. It is the best way to match available vessels to the operational requirements of the voyage and the need to properly manage risk.

The risks from using substandard ships can include

•Undue delays and costs while the ship is inspected in port
•Falling foul of regulators
•Rising insurance costs
•Casualties - from delays through to total loss - which carry severe commercial, human and environmental costs.


Today marine industry operators cannot afford to take these risks, either deliberately or through lack of information.

Why is ship vetting done?

Marine oil terminals, charterers and shippers with the interest of using third party vessels need to be sure that the human, safety, quality and environmental risks are well managed.

A good vetting system is important to ensure that there is a systematical management of safety and quality risks for third party vessels. Sub-standard vessels that are identified early can be required to take actions to reduce that risk.

Without a vetting system in place, there are no means to identify sub-standard vessels and the vessel is potentially a risk to the terminal. Sub-standard vessels may be detained by Port State Control or Coast Guard and causes delay or disruption to the cargo operation.

Safe-Ships Marine Services vessel vetting program uses many sources of information to determine the vessel’s risk rating. The rating of a vessel will assist future charterers in their decision-making and be able to put an estimate on the cost of the charter.
The vetting process is an important part in the Tanker Chartering process. Based on the resulting report the Charterer can come to a decision whether to use the ship for his particular cargo needs, or to decline the ship.  In the end, the process will provide you with valuable information to help you make an educated decision.

What is vetting?

Ship vetting is the process through which a prospective charterer or buyer of a particular piece of tonnage will evaluate the subject vessel to assess its past performance, safety records, performance results, regulatory compliance and many other items.

Who Vets the Ship?

Any capable authority may vet a ship.  The Oil Companies International Ship Forum (OCIMF). OCIMF is a voluntary association of oil companies having an interest in the shipment of crude oil and oil products. They have missioned themselves with being the foremost authority on the safe and environmentally responsible operation of oil tankers and terminals, promoting continuous improvement in standards of design and operation. In general terms, a cadre of experienced ship’s officers (now consultants) will visit a vessel and inspect it based on the OCIMF’s SAFE protocol.

Many firms, large and small perform their own vettings, based on their own particular requirements and protocol. Safety and prevention of pollution is almost always an important component of that process, but often, commercial requirements enjoy similar weight in the final chartering decision. How you approach the vetting process will be a function of how and where your firm does business.

Vetting should be a combination of both safety protocols and ship performance issues. Ultimately, without adequate commercial performance by the subject vessel, the safest of tank vessels will have little or no utility to a trader whose bottom line is adversely affected by poor pumping performance, inadequate stripping (cargo R.O.B.), and / or a missed arrival / discharge window due to engine problems. Some trading houses and the oil majors themselves keep detailed databases on ship performance criteria. This is an excellent idea.
 

 

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