Bulk carries aged <10 years old have better performance than Tankers aged >15 years old. This could be attributed to the fact that PSCOs mainly focus on safety items/ conditions while new built vessels do not show excessive maintenance problems. Although tanker operators may have better performance than bulk carrier operators, the additional rules and requirements (TMSA, Vetting etc) do not ensure adequate high maintenance status of a tanker throughout the years.
Same condition is shown in the detention per inspection rate (number of detentions /Inspection %). Bulk carriers with age < 10 years old show better performance than tankers with age >15 years old.
In conclusion, the age of a vessel is also considered as a dynamic parameter, thus, vessel operators are advised to pay attention to vessel’s maintenance status and operational condition.