This change from the previous age inspection trigger of 18 years reflects the changing market conditions of the bulk carrier fleet, and has been done with consideration of the following:
- International Union of Marine Insurance figures reveal an increase in total bulker losses in the 15 – 19 age bracket in the period 2012-2016
- it is important that this inspection is conducted prior to third special survey in order to identify focus areas for consideration later in the vessel’s life, and
- the influx of new builds in the early 2000’s has raised questions about the effective working life of vessels and accelerated pace of scrapping. Accordingly, decisions regarding maintenance and standards are being made earlier, highlighting the importance of physical validation at an earlier stage.
For more information refer to the FAQs or contact us.
Learn more about RightShip’s dry inspection here.