Valuation Surveys:

The Valuation Survey is a full survey of the vessel and evaluates the condition and the fair market value of a vessel. It further assures the banks and/or leasing companies that the vessel meets the SOLAS, Class and other International requirements.

The superficial survey includes the same inspections as the Condition Survey and the Pre-Purchase Survey i.e.: inspection of:
  • Cargo spaces (Cargo holds or tanks if tanker- as far as accessible)
  • Ballast tanks
  • Deck spaces
  • Cargo gear
  • Safety equipment
  • Cargo gear
  • Electric equipment and distribution
  • Machinery

The report includes all important machinery data like:

Total running hours/ running hours since last overhaul

  • All wear down data and calibrations
  • Sighting of overhaul and maintenance records
  • etc.

Condition Surveys:

 Condition Surveys are occasionally required by Banks, Leasing Companies and/or Insurance cargoCompanies. It is a very similar comprehensive inspection of the vessel as stated in the column of the Valuation Survey. It reflects the condition and degree of maintenance of the vessel and its machinery, equipment and operational systems.

Pre-purchase Surveys:

Pre-Purchase surveys are mainly carried out at the request of a prospective buyer. It is a very similar comprehensive inspection of the vessel as stated in the column of the Valuation Survey. Furthermore it is reported about ongoing problems (if there are any) the buyer is likely to meet.
 
vessel11

P&I Surveys – General Condition and Pre-Entry

Insurance Surveys - General Condition and Pre-Entry

Both of this type of surveys are very similar to the Condition Survey. In most of the cases the Insurance Companies have their own basic forms to be filled. Additional comments and summary of defects and/or recommendations for action (if any) are included.