Condition Assessment Programme
Helping improve your chartering opportunities
Our Condition Assessment Programme provides this essential independent evaluation of the condition of your ship. An owner possessing a CAP certificate and report from us can benefit from improved risk assessment ratings, preferential chartering opportunities, early identification of deficiencies, and maximised residual asset values.
Helping you demonstrate the reliability of your ships
Some major wet and dry charterers require an independent appraisal of the ships they charter to help ensure that they meet recognised standards of quality.
We have developed a condition assessment service to meet these requirements and help you demonstrate the operational reliability of your ships, regardless of their age.
Participation in our Condition Assessment Programme ultimately results in your ship acquiring a Lloyd’s Register CAP rating. A ship which has been through the Programme, and achieves a high CAP rating is easily identifiable as being well maintained, with many benefits for the owner and charterer.
Improving charter potential
Ships with a favourable CAP rating of 1 or 2 can benefit from increased commercial opportunities because charterers can easily appreciate that they are well-maintained vessels.
Our condition assessment procedure includes inspections which can identify areas of deficiency. Early identification of these areas provides an opportunity for targeted maintenance, which in turn can reduce the risk of unplanned downtime and increase the time available for charter.
Enhancing asset value
The CAP ratings your ship acquires will indicate to prospective purchasers and financial institutions that the ship has been well maintained, and this can help maximise its residual value.
The Programme covers:
• hull structure assessment
• machinery assessment
• cargo systems assessment.
Combining the Lloyd’s Register CAP survey with the vessel’s structural survey provides minimal disruption to the operational schedule.
The hull structure assessment may include a fatigue assessment that can identify specific areas or locations to be inspected.
The machinery and cargo inspections are combined in a single operational voyage that culminates in a cargo discharge. For bulk carriers, cargo gear and deck fittings are tested and examined as necessary.
Ratings are computed for each of the Programme assessments, ranging from 1 (high) to 4 (low).
Separate reports are prepared covering the hull, fatigue, and machinery and cargo systems. We aim to get the critical hull CAP rating to you as soon as possible, usually within a few weeks of the survey. This can enable you to secure a charter based on the hull CAP rating alone, earlier than might otherwise have been the case.
Lloyd’s Register CAP
Lloyd’s Register CAP gives you a full view of your ship and addresses the risks of pollution, structural failure and machinery downtime.
A set of comprehensive reports and associated certificates are issued to the shipowner upon completion of each stage – well within the three month time frame allowed by major charterers. This provides the potential for an uninterrupted trading pattern and maximises the revenue from the ship.
The Lloyd’s Register CAP certificate and report are valuable documents. A shipowner can show these to third parties as evidence of the ship’s condition. The CAP rating demonstrates to charterers that the critical quality areas of the vessel have been assessed and certified.
We have extensive experience of undertaking CAP surveys and, as a result, the Lloyd’s Register Condition Assessment Programme is preferred by many major charterers.
Summary of benefits
• Provides an independent evaulation of the condition of your ship.
• Helps you demonstrate the operational reliablity of your ships, regardless of their age.
• Leads to preferential chartering opportunities and the potential for increased earnings.
• Helps in the early identification of deficiencies, maximising on-hire time and reducing unplanned maintenance.
• Assists in maximising residual asset value.
To find out how we can help your business please contact your nearest office or complete our enquiry form: