Is the $300m tanker vetting industry out of control?
INTERTANKO says to rethink the tanker inspection and vetting machine The vetting inspections of tankers by oil companies are proliferating in frequency, rising steadily in cost and, at an estimated $300m a year, are well on the way to running out of control. The Ship Inspection Report (SIRE) programme developed by the Oil Companies International Marine Forum (OCIMF) intended that tanker inspection reports should be shared by all OCIMF members. They are not. The cost of inspections should be shared by both parties. They are not. And to make matters worse, ship operators often have to pay the costs of luxury travel for inspectors.The autumn meeting of INTERTANKO's Council in Hong Kong developed further the issue of the sustainability of tanker shipping. Joining late payments of freight and demurrage at the top of the Sustainability Project's list of priorities is tanker vetting.INTERTANKO's Chairman, Graham Westgarth of GasLog Ltd, who was re-elected for a third two-year term as Chairman of the Association, chaired an active Council discussion on the vetting of tankers. Vessel inspections by charterers are a crucial part of tanker vetting that has effectively become every tanker owner's ticket to trade."Vetting plays a vital role in safety, one which ...
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