What is purpose and benefit of CAP or Condition Assessment Program ?

Purpose of CAP :

CAP has been created out of a wish from ship owners to document the quality of their vessels beyond the scope of classification.

CAP is an independent and thorough verification of the actual condition of a vessel at the time of inspection.

Benefits of CAP: The main benefits of CAP are :

1. To have the vessel judged based on the actual condition on board rather than age.
2. To contribute to protecting life, property and the environment and to ensure safest possible transportation of cargo.
3. To establish a sound basis for decisions on repair or investments in order to extend the lifetime of the vessel.
4. To document a vessel’s technical condition towards/in connection with Charterers, cargo owners/or authorities in connection with entry into new charters or extension of existing charters, refinancing of the vessel, sale or termination of management agreements etc and ports and terminals.