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A CAP rating has no validity date, but only reflects the con- dition of the vessel on the date of completion of the on- board inspection. Each charterer defines the time validity of a CAP certificate within its own vetting and marine assur- ance procedures.

Laycan and laytime are the two main clauses in the Charter Party of type Voyage Charter. Laycan is an abbreviation for the Laydays and Canceling clause.

In charter parties and related documents the laycan will usually be written as (for example) ?10/20 May?, meaning 10 May is the first layday while 20 May is the cancelling date. Laytime clause states the period of time allowed for loading and for discharging.

The term ?laycan? is frequently used in sale contracts to refer to the delivery period of the cargo. However, ?laycan? is a charterparty term, referring to the period during which the vessel must arrive at port.

Laycan means the period of time in which a vessel must arrive at the port of loading defined by an end and start date.

It refers to the period within which the ship is expected to arrive at the port and be ready to load or discharge cargo. This period is typically given as a range of dates. For example, a Laycan of 1st June to 10th June means the ship is expected to arrive between these dates.

CAS is a mandatory statutory survey scheme that Category 2 and Category 3 (non-double hull) oil tankers must satisfactorily complete (with no outstanding recommendations) by 15 years of age or by the first intermediate or renewal survey due after 5 April 2005, which ever occurs later, in order to trade to their ...

(1) CAP-HULL RATING. (a) Rating Level 1 : "Very Good Condition" Items examined and measured found with only superficial reductions from "as new" or current rule scantlings. No maintenance or repair required.

CAP1 is the maximum rating corresponding to ?very good? actual condition of ship (or ship's components and elements). CAP2 corresponds to ?good? actual condition of ship (or ship's components and elements). CAP3 corresponds to ?satisfactory? actual condition of ship (or ship's components and elements).

CAP is a voluntary, thorough verification of the condition of the vessel at the time of inspection. The main purpose is to document the quality of aged vessels and to make it possible to judge the vessel based on its current condition rather than its age.