Overview
This book provides a methodical approach to the appraisal of ships within their own Class and within their trade using statistical and historical data as working tools but, most importantly, recognizing the intended use of the valuation.
This book outlines the role of a ship valuer and highlights the importance of the criteria of assignment, which is the underlying foundation of all valuations. Among other things, it protects the valuer against improper use of their valuation and against legal action in disputes over the ship’s value.
The handbook also discusses each stage of the valuation process, explaining the principles of valuing ships, types of valuation and the terminology used, research and data collection, conducting the valuation and producing the certificate of valuation and the valuation report.
Valuing requires years of practical experience, but it is hoped that this publication will support valuers with useful advice and information.
lang="en-US"Content
Foreword
Acknowledgements
Part 1 An Introduction to Valuing Ships
A science or an artform?
Every ship has a value
The role of the valuer – responsibility, exposure and protection
Impartiality and credibility
Professional regulation
Appointment of valuers
Degrees of difficulty in valuing ships
Valuation appraisals
Shipbrokers
The shipbroker as a valuer
Part 2 The Principles of Valuing Ships
The building blocks
The criteria of assignment
The valuation scale
Research and data collection
Range of valuations
Laid up versus in service
Market corrections
Market bandwidth
Value adding
Multiple sales
Economic life
Desktop valuations and the condition survey
Part 3 Types of Valuations and Terminology Used
Why value
Fair market value
Asset values
Marine insurance
Insurable interest
Insurable value
Relocation costs
Replacement costs – marine insurance interpretation
Increased value
Banks and financial institutions
Finance security valuations
Forced sale valuations
Litigation
Replacement value
Disposal of laid-up ships
Scrap values
Auction reserve values
Bonding or security value
Valuations for imported ships
Residual values
Past values
Fleet valuations
Pre-purchase values
Valuation of fishing vessels
Valuation of naval vessels
Valuation of historical ships
Valuation of recreational vessels and yachts
Part 4 Research and Data Collection
Research
The valuer’s personal database
Information supplied by the owner
The status of the ship
The condition survey
The role of the shipbroker
Broker input
Recent sales
Historical values
Shipbuilding costs
Ship repair costs
Impact of scrap values
Negative scrap value
Market influences
External influences
Part 5 Conducting the Valuation
The valuation process
How to go about valuing a ship
Beginning the valuation work
Part 6 The Certificate of Valuation and the Valuation Report
The certificate of valuation
The valuation report or booklet
The currency used for valuations
The validity of the valuation
Taxation implications
The disclaimer
Confidentiality and copyright
Author’s note
Appendices
Appendix I: Valuation Graph (Typical)
Appendix II: Valuation Work Sheet
Appendix III: Ship’s Certificate of Valuation for Insurance (Sample)
Appendix IV: Ship Valuation Report for Finance Security Purposes (Sample)
Appendix V: Certificate of Valuation for Small Ships/Fishing Vessels for Insurance Purposes (Sample)
Appendix VI: Small Ships/Fishing Vessels’ Valuation Report for Finance Security Purposes (Sample)
Appendix VII: Valuation for Bonding Purpose (Sample)
Appendix VIII: Fleet Valuation Summary for New Ships (Sample)
Appendix IX: Fleet Valuation Summary for Existing Ships (Sample)
Details
Title: The Ship Valuer's Handbook
Number of Pages: 102
Product Code: WS1743K
ISBN: ISBN 13: 978-1-85609-899-1 (9781856098991), ISBN 10: 1-85609-899-0 (1856098990)
Published Date: March 2020
Binding Format: Paperback
Book Height: 246 mm
Book Width: 189 mm
Weight: 0.40 kg
