Most major wet and dry charterers require an independent appraisal of ships from a certain age they charter to help ensure that they meet recognised standards of quality. We have developed a condition assessment service that meets these requirements, providing you with an independent evaluation of the condition of your ship and a certificate and report to show to third parties as evidence.
Participation in our Condition Assessment Programme ultimately results in your ship acquiring an LR CAP rating. A ship that has been through the programme and achieved a high CAP rating is then easily identifiable as being well maintained, leading to preferential chartering opportunities and the potential for increased earnings.
What we offer
Our Condition Assessment Programme provides you with a complete view of your ship and addresses the risks of pollution, structural failure and machinery downtime. We cover hull structure assessment, machinery assessment and cargo systems assessment.
Our hull structure assessment may include a fatigue assessment, which can identify specific areas or locations to be inspected. Our 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.
We calculate ratings for each of our programme assessments, ranging from 1 (high) to 4 (low), and a set of comprehensive reports and associated certificates are then issued to you upon the completion of each stage.
Why choose LR?
Our extensive experience in undertaking CAP surveys has resulted in our Condition Assessment Programme being the preferred option and most trusted for many major charterers. For this reason, our reports currently enjoy the highest rate of charterer acceptance. Every CAP survey is undertaken in person, ensuring a thorough assessment of the vessel and significantly reducing the chance of charterer rejection.
We are focused on helping you maintain an uninterrupted trading pattern that maximises the revenue from your ship. By combining our CAP survey with your ship’s structural survey, we offer minimal disruption to your operational schedule and our set of comprehensive reports and associated certificates is issued within a few weeks.
We prepare separate reports covering the hull, fatigue, and machinery and cargo systems, with the aim of getting you the critical hull CAP rating 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 be possible.
What are the benefits?
If your ship attains a favourable CAP rating of 1 or 2, you can benefit from increased commercial opportunities because charterers can easily appreciate that your ship is a reliable choice.
The CAP rating your ship acquires will also offer an indication to prospective purchasers and financial institutions that your ship has been well maintained, and this can help maximise its residual value.
Our condition assessment procedure also includes inspections that can identify areas of deficiency. An early identification of these areas provides you with the opportunity for targeted maintenance, which in turn can reduce the risk of unplanned downtime and increase the time available for your ship to be chartered.