THE DIFFERENT TYPES OF MARINE SURVEYS
Surveyors and survey companies come in many forms and the range of work marine surveyors carry out is very diverse.
Each type of survey has particular requirements subject to the intention of you, the client, commissioning the survey.
The two most common types of marine surveys are the Pre-Purchase Condition & Valuation Survey (PPC&V) and the Insurance Survey.
Either one of these surveys take one or two days to complete, depending on the size of the vessel and the time needed for the haul-out & the sea trial.
It takes another three to four working days to complete the complete Survey Report, which is an official document with embedded photos that varies in length, depending on findings at the time of the vessel’s inspection.
The survey fees are based on the overall length (LOA) of the vessel.
PRE-PURCHASE CONDITION & VALUATION SURVEY
One of the biggest mistakes a potential buyer could do is to buy a used boat without a survey!
To purchase a yacht without the help of a professional surveyor is basically asking for trouble, and we're here to help to keep you out of that trouble.
Even the most experienced sailor can miss little things and an additional pair of trained eyes might just shed some light on one or the other things you might have overlooked.
Let us work together to make sure it is the best option for you.
A pre-purchase condition survey is basically an information gathering exercise through detailed and comprehensive examination of the entire vessel.
The aim is to obtain as much information on the vessel’s machinery, the mechanical and electrical systems, the equipment and, where possible, to test it.
A pre-purchase condition survey includes a haul out for an inspection of the vessel’s wetted surface, steering- and drive gear as well as a sea trial.
Every now and again marine insurance companies require an inspection of your boat or yacht, to determine whether the vessel is still an acceptable insurance risk.
These insurance surveys have to be conducted by a qualified marine surveyor who is looking at the overall condition, the on-board systems and the structural integrity of the craft.
In order for the surveyor to establish a fair market price and replacement value, he also looks at the entire interior and the cosmetic condition of the vessel.
This is an ideal solution if you’re interested in buying a used boat but are not on site to have a look at it yourself. A typical scenario would be a vessel advertised in a yachting magazine or on a yacht broker’s website.
Just assign a qualified marine surveyor to visit the boat and have a good look around before any commitment such as a contract or a deposit.
Following the inspection the surveyor will be able to advise you whether you should take the next step or not.
Once the inspection is finished, you will receive a more immediate feedback, as these pre-purchase opinions don’t come with a full written report but are “verbal only”. As such they are the best solution to save time and money for all involved parties.
Pleasure craft occasionally suffer damage due to collision, grounding or severe weather. In such cases marine surveyors are appointed by marine insurance companies to investigate the possible cause, nature and extent of the damage.
Insurers will want to know the cause of the damage to confirm that it was insured under their policy. They will also need repair recommendations and if needed, the estimate of the cost of repairs.
The surveyor may also be asked to approve repair invoices at a later date.
VALUATION SURVEY / APPRAISAL
A valuation in itself is not a survey. A valuation is a statement of opinion by the surveyor that a particular vessel is worth a particular amount at a particular time, under a particular set of circumstances.
The reason for commissioning an appraisal may be to determine the fair market value of a vessel for pre-purchase; insurance; for finance, to verify the value, to satisfy an insurance company or the bank; for your own curiosity; for legal reasons such as divorce, probate, taxation etc. or to determine a selling price before putting a vessel on the market.
The aim of the sea trial is for the surveyor to establish whether the vessel can perform to an acceptable degree, the pre-determined performance characteristics which you expect of a vessel after re-fit or repairs or when considered for purchase.
Besides the performance, sea trials determine the fuel economy, handling, control, manoevrability and reliability of the yacht.
All the systems of the vessel are checked in service to confirm that they operate satisfactorily.
The sea trial is not designed to establish how stable the vessel is; this can only be determined by carrying out the correct stability tests for the craft.
Are you planning to register your vessel in a foreign country? The Code requirements for safety equipment (SOLAS), machinery installation and pollution prevention (MARPOL) systems can be very challenging. Waterborne Expeditions LP is familiar with all the required documentation and can make the procedure as painless as possible. Most Registrars require a qualified surveyor to sign off on the Compliance Checklist, so letting experienced people handle your registration right from the start saves time and reduces the headache factor to near zero.
This is a comprehensive inspection of all the safety equipment, installations and procedures on board to determine if the Flag Authority or Code requirements are met. It is an absolute must – and a great marketing tool too – for vessels in commercial operation such as charter- and dive boats, especially those operating in local Thai waters.
Stand out above the rest and show your clients that your vessel is as safe as those operating in their home countries. Waterborne Expeditions LP surveys to MCA Small Commercial Vessel (MGN280) Code and/or SOLAS/IMO standards.
UNDERWATER HULL SURVEY
In certain cases, a haul-out or dry-docking is not practical or not possible. In such instances a diving inspection of the wetted surface is the way to go on about it. As former professional divers such an inspection can easily be taken care of and this kind of inspection can also include photos or video footage if required.
OTHER SURVEYS & SERVICES
Loading & Discharge Surveys: We observe and record the loading and unloading of your yacht, documenting any damage for insurance purposes. Most insurers require such a survey once the yacht surpases a certain value.
Post Survey Follow-ups: We can make sure that any deficiencies are rectified and ensure that the work has been carried out to the level agreed to in the sales contract and completed to a satisfactory level.
Tonnage Measurements: Tonnage is a measure of the cargo-carrying capacity of a ship. We can make these calculations of the volume or cargo volume of a ship.
Specialty Inspections: To assess the condition of specific systems on board by specialized engineers and technicians. Such inspections should be considered by potential buyers of high-tech or very sophisticated vessels such as hybrids.