RightShip updates age trigger for vessel inspections

The phased introduction of this new policy will begin on 31 March 2025:

Phase 1 (2025): RightShip’s age trigger for inspection of Dry Bulk and General Cargo vessels will change from 14 years to 12 years, after which an annual acceptable RightShip Inspection will be required.

Phase 2 (2026): The age threshold will be further reduced, requiring inspections for vessels aged 10 years or older.

Additionally, RightShip will require vessels with less than 8000 dwt to undergo similar inspection making the safety standard more consistent across the global Dry Bulk and General Cargo fleet.

“Our decision to lower the inspection age from 14 to 10 years, in a phased approach, reflects the desire from stakeholders for more physical inspections of vessels to counter challenges the dry sector faces in achieving operational excellence. This change reflects our commitment to raising safety standards globally and comes at a critical time as the global dry bulk fleet now averages 14.7 years in age and will continue to rise,” explained Christopher Saunders, Chief Maritime Officer at RightShip. He added, “Data shows there is a strong correlation between performance in a RightShip Inspection and the risk of detentions and incidents.”

RightShip said its data reveals that the Dry Bulk sector lags in critical safety metrics compared to other sectors, with bulk carriers experiencing the highest incident ratio at 1.49%, followed by oil (0.96%) and LNG (0.89%). Fatalities are significantly more prevalent in Dry Bulk, showing a 0.42% fatality ratio, surpassing LNG and LPG vessels (0.14%). Additionally, bulk carriers have a Port State Control detention ratio of 4.69%, which is four times higher than that of oil tankers.

RightShip said its analysis of vessel size and age indicates a strong correlation between the age of bulk carriers and increased safety risks, particularly after vessels exceed 10 years. Larger vessels (over 200 000 DWT) see a notable rise in incident and detention ratios as they age, especially between 10 – 13 years. This trend is also evident in smaller vessels, where incident and detention ratios peak at 14 – 19 years. Moreover, deficiencies per inspection increase with vessel age across all categories, emphasising the need for proactive safety interventions well before the 14 year mark to support owners and managers in mitigating risks, inform chartering decisions, and enhance operational efficiency.

“At RightShip, our commitment to safety and crew welfare is evident in our proactive standard-setting and advocacy for stronger safety measures,” said Steen Lund, CEO of RightShip. He added, “The data and insights gathered from our inspections are crucial in enhancing the vetting process, providing charterers with a clearer understanding of a vessel's condition and performance and supporting ship owners and managers in their efforts to enhance safety across their fleets. As we navigate the challenges associated with an ageing fleet, we must collectively strive for safety and transparency across the shipping industry. It is incumbent upon the entire maritime ecosystem to embrace and champion improved safety standards. This commitment is part of our broader mission to drive continuous improvement toward zero harm in maritime operations.”

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Read the article online at: https://www.drybulkmagazine.com/shipping/11102024/rightship-updates-age-trigger-for-vessel-inspections/