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Monday, October 15, 2018

ARCO VETTING PASSES TO BP

Following the absorption of ARCO by BPAmoco this week, all former ARCO approvals have been suspended.

Owners who had approvals from ARCO will now have to re-apply to BPAmoco.  This was not expected to cause extensive problems, according to the BP Amoco vetting department, as there were few ships operating for the ARCO group from the spot market.  The further contraction of the chartering base puts further pressure for the use of SIRE by charterers, which can be only good news.