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Sunday, April 22, 2018

EXXONMOBIL APPROVALS : A THING OF THE PAST

At a meeting this week with ExxonMobil it was spelt out clearly that they will not be issuing any period approvals for tankers.

Whilst the market was aware of this, it was good to hear it from them directly. The comment was made as to what “Technical Approval” had constituted in any event.  It was suggested that owners could make a much more compelling case for meeting ExxonMobil requirements to other charterers by showing that a tanker had undertaken a charter for Exxon Mobil in recent months. The whole issue of approval of just the tanker was overblown in their opinion.

The analogy can be made of moving furniture from one side of town to the other. The principal assessment would concern how the furniture would be handled and the competence of the organisation undertaking the job.  That assessment would give an indication of the likelihood of the organization having a decent truck to transport the furniture.  Thus the assessment of the truck is only one element in deciding to hire the firm to move the furniture.