INTERTANKO Releases Standardized Gas Form
The International Association of Independent Tanker Owners (INTERTANKO) has released updated Gas Form C forms for LPG and LNG with the intent on standardizing both the forms themselves and the information provided on them.
Currently, a large number of Gas Form Cs are company-specific, often referring to commercially sensitive information such as speed and consumption, which can alter throughout the stages of a vessel’s life.
The new forms will assist INTERTANKO Members, as well as the industry at large, with improving the quality of the documents that are publicly available.
“The role of the Gas Form C was identified as an Owners’ document that is predominantly used during the negotiation of a deal. Through INTERTANKO’s Gas Tanker Committee working group, it was noted that a lack of standardization was working against the positive changes being made in the wider market to provide consistency and clarity”, said INTERTANKO’s Commercial and Markets Manager Claire Georgeson.
“We focused on removing all commercially sensitive information from these forms and, working with industry partners, aligned them into one easily recognizable form. The key is education and helping Owners to identify what information is standard and what is negotiable,” Claire added.