Vetting & Risk Assessment

Vetting is the overall process of assessing and managing the marine risk, utilising tools and processes to provide information on vessels and companies that are being considered for business. Vetting is the INTERTANKO Members’ “Ticket to Trade”.

Prior to any potential cargo transaction that is offered by one or more charterers, both operator and tanker vessel are evaluated (screened) against a number of factors set out by the Oil Companies Marine Assurance Criteria. One of the fundamental factors in this process is the physical inspection, which is conducted on board by accredited OCIMF and CDI inspectors, following the VIQ SIRE guidelines and CDI SIR questionnaires.

To assist Members in the vetting inspection process, INTERTANKO provides a number of tools, including: publications and guidelines; benchmarking tools on VIQ SIRE performance, TMSA, LTI, Crew retention and others; vessel inspection and PSC inspection feedback databases, and; issuance and guidance on vetting clauses.

Members have a broad representation on INTERTANKO’s Vetting Committee, which aims to:

• foster INTERTANKO Members’ interests in relation to inspections and screenings performed by entities such as Port States, oil and chemical charterers, P&I Clubs, hull underwriters, terminals and others
• reduce the proliferation and the cost of ship inspections which should be transparent and justifiable

Committee members take an active part in developing resource materials for the wider membership as well as addressing topical vetting-related issues and providing a platform for the membership to liaise with and address their concerns with Port State Authorities and various vetting and ship inspection regimes.