Report on 2010 Policy Year P&I Condition Surveys 11 May 2011 No.11-003 We are pleased to report to you on the condition surveys carried out during the 2010 Policy Year ( 20 February 2010 ~ 20 February 2011). 1. General Policy Our criteria are as follows; (1) Pre-entry surveys : All vessels : 10 years old and over, however include; (a) Any chemical tankers with coated tanks : 6 years old and over (2) Entered vessels : All vessels : at 16 years old, however include; (a) Any vessels suffering two or more similar accidents due to unseaworthiness (b) Any chemical tankers with coated tanks entered for Indemnity Risks : at 6 years old (c) Any reefer vessels entered for Indemnity Risks : at 11 years old (d) Any tankers which have carried Heavy Fuel Oil (HFO) as cargo within the last 12 months : 10 years old and over unless; - the vessel has undergone our condition survey within the last 12 months; or - the vessel has undergone a special survey by the classification society; or - the vessel has a current CAP 1 or CAP 2 rating issued by an IACS classification society. (3) Recheck : (a) All vessels surveyed by under (1) and (2) : Every 4 years after the first survey. (b) Vessels entered at 20 years old and over : Every 2 years after the entry survey. Note:- 1. One or two surveyors of the Association's designated organization will conduct a condition survey in accordance with the Association's requirements focusing on; certificates/documentations; maintenance; navigation plans; lifesaving appliances; fire control plans; seaworthiness; cargo worthiness and; other aspects depending on vessels types and their special characteristics. A condition survey takes half a day up to 2 days at the longest without causing any delays to the vessel. Our requirements include the weather tightness test for hatch covers, the pressure test for ballast tanks and the internal inspection of cargo holds, and it is impossible to accomplish them all without the cooperation of the Master and crew. I