Our vessel maintenance policy is aligned with (i) our customer-focused strategy of providing high quality vessels and (ii) our intention to maximize the vessel life and reliability by investing in maintenance. We continually improve our preventive maintenance programs and have equipped all of our vessels with a Planned Maintenance System. This software allows us to ensure the integrity, continuity and standardization of maintenance, and effectively manages the communications between vessel and office with regard to spare part orders, cost of spares and availability. Detailed analysis of vessels combined with lengthy ship management experience has allowed us to adopt phased replacement of critical equipment, thereby delivering operational efficiencies and reduced costs. We also conduct external benchmarking on safety, environmental and budgetary issues which we use to ensure consistent above-average performance based on industry benchmarks.
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