Sample of Time Charter Party Term Contract is as follows. These requirements are now incorporated into the charter parties. The vetting inspections and the subsequent approval of the vessel by the oil companies has become an essential commercial requirement of the tanker industry. This publication describes the standards which tanker vessels must adhere to keep in line with Industry standards. In order for the SIRE inspections to be carried out in a standardized manner all across the world, The Oil Companies International Marine Forum (OCIMF) has published the ‘Vessel Inspection Questionnaire’. In this case, the space on the vessel is important. Based on the information that the Shipper makes booking, the Forwarder send the booking request to the Shipping Line. Forwarder makes booking to Shipping Line.
PREPARE A VESSEL MEANING VERIFICATION
Prudent assurance process requires a physical verification of these standards vide inspections are called ‘SIRE inspections’. As for the vessel schedule, please contact the forwarder in advance. Owners are recommended to comply with these Industry standards which are above the statutory requirements for the type of vessel. These standards are issued to the ship owners through the various industry publications like Mooring Equipment Guidelines, ISGOTT etc. Each company may have their own approach to marine assurance process however in order to standardize this process to some extent the oil companies came together to define the common industry standards. The motive of the assurance process is to weed out substandard ships from the industry. This is done through the process of ‘Marine Assurance’. It is only prudent that the level of risk is assessed prior taking on the vessel for the business. When the charterer hires ship to carry his asset (the cargo) he accepts a certain level of risk. A suitable vessel is one which fits their requirement with regard to ship’s equipment, freight rates, availability (lay can), size, special requirement of the load/ discharge terminal etc. As soon as a fire is detected, several actions should be taken to ensure the safety of the vessel and the personnel.
The busy trader gets help of this ‘charterer' colleague to find suitable ship to transport this trade. Traders all around the world buy and sell commodities like oil, gas, chemicals, iron ore etc which needs to be transported from one place to another.
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