Cargo owners and many of the largest charterers typically require a Condition Assessment (CAP) Survey. Charterers prefer a CAP Grade of 1 or 2 to fix older vessels identified to carry their cargo. The commercial opportunities for an older tanker, gas carrier, bulk carrier and more recently a containership and an offshore supply vessel without a satisfactory CAP rating may be limited.
A Condition Assessment Program is the recognized method for an asset owner to demonstrate the quality and suitability of an asset for charter. The program provides a charterer with a technical evaluation of the physical condition and maintenance of a vessel above the requirements for Class.
The program includes a detailed survey of the vessel's hull structure including verification of gaugings as well as extensive testing of the vessel's machinery, equipment and cargo systems. This information combined with a strength and fatigue engineering analysis leads to a numeric rating being assigned to the vessel.
Assess physical condition and maintenance of vessel above the minimum requirements for Class
The major charterers have introduced even tougher CAP standards as a requirement for charter. They demand that the CAP 1 or 2 rating include a detailed Fatigue Assessment. Other charterers are expected to follow this lead. CAP is able to quickly and cost effectively assess the cumulative impact of fatigue on a vessel’s critical structural components.
* This is a voluntary service above class requirements