Ageing LPG Carriers - Experience from CAP as a Condition Assessment Tool (eBook)

Published Date

January 1998

Ageing LPG Carriers - Experience from CAP as a Condition Assessment Tool (eBook)

(Excludes any applicable taxes)

This paper describes the condition assessment tool known as CAP and also looks at the extended service life issues. (10pp)

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In a freight market hardly meeting the interest of newbuilding investments, owners of old vessels are encouraged to operate their vessels as long as possible. This is partly true for the LPG market as well and in such a market it is essential to ensure that the transportation of LPG is carried out by quality vessels. This is possible with old LPG tankers as long as their condition can be properly assessed.

Shipping quality is essential in a market with charter parties reflecting a surplus situation in the freight rates. The petrochemical gases market may look relatively good by recent standards but is very low by historical comparison. Relatively few newbuildings are ordered and opens for operation of vessels up to 30 years of age and above. Short-time investors show no interest in long-time planning, particularly not in planned maintenance, allowing low-standard and even sub-standard vessels to operate in the market. Professional shipping companies operating first class tonnage can hardly compete in a market, which does not pay for quality.

In the 90s the major charterers and some state and harbour authorities as well as terminal owners saw the need for a rating system of ageing vessels in order to keep the transportation of oil and gas in quality vessels. CAP was adopted as a tool by major oil/gas companies in addition to the vetting surveys carried out onboard tankers above 20 years of age and ore/oil vessels above 15 years of age. Today CAP rated vessels are preferred in the charter market.

This paper describes the condition assessment tool, CAP, as rendered by DNV, the rating scales, the principles of rating and the rating obtained for more than 120 vessels with emphasis on the 20 LPG carriers assessed to date of which 2 have been re-assessed. These carriers are in the small and medium sized segment from 2 500 m3 to 54 000 m3. The paper also looks into the extended service life time of these vessels.

Paper Delivered by:
Per Straumann

For over 45 years, the Gastech Exhibition & Conference has been at the forefront of the international gas and LNG market. This world-renowned event is regarded as the most significant meeting place for gas and LNG professionals, where the global industry gathers to do business.

Gastech hosts major IOCs, NOC’s, global utility companies, EPC contractors, shipbuilders, pipeline companies, manufacturers, distributors, technology and service providers, all who play an active role in the global energy value chain.

Title: Ageing LPG Carriers - Experience from CAP as a Condition Assessment Tool (eBook)
Product Code: 4433g147
Published Date: January 1998

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