There is a huge difference when it comes to purchasing ships and other assets. What sets them apart is their economic value. Collaborative efforts are made when ship sales and purchases are taken into consideration, as it is not a task that is done by one person. Buying a ship is not similar to buying land or any other asset. As mentioned earlier, ship sales and purchases are not a one-person job; they involve sellers, buyers, and financiers. But being located in different countries can make things trickier, especially in the case of a dispute.

A brief about Ship Sale & Purchase

Any typical sale and purchase transaction takes place when prospective sellers and buyers appoint brokers for the sale and purchase of a vessel, respectively. The shipbrokers act as an intermediary between both parties. There are several factors that the buyer needs to consider while investing in an asset like a ship. One of the most important factors that can help the prospective buyer make the right decision is the ship’s inspection before purchase. Inspection of ship conditions is extremely important when it comes to making a purchase. There are three stages under which ship condition assessment takes place so that the potential buyer can make the right decision. Let us find out the three stages and how inspection takes place in these three stages:

FIRST STAGE

– Inspection of submerged structures – Sound checking of the hull wall – Determining structural accuracy with a moisture meter – Checking electrical systems and electronic equipment

STAGE 2

– Inspection of all ship structures before the purchase – Checking the integrity of the valves operating in idle conditions – Hulls, systems, and marine valved are thoroughly inspected at this stage

STAGE 3

– Inspection of the vessel under actual conditions – Inspection of measuring equipment and control equipment – Full Capacity test – Checking the steering system, reverse check, stopping the emergency machine – Checking Electrical System – Checking the pumping systems – Inspection of the navigation equipment and marine electronic equipment. For Ship Sale and Purchase, Ship Condition Assessment and Inspection play an extremely vital role. It helps the potential buyer in making a decision that will make their purchase beneficial. The inspection/ assessment reports help the buyer to have an accurate knowledge of all the factors that they need to weigh in while making a purchase.

How Sinotech Marine Assists in Ship Sale and Purchase?

Sinotech Marine has been a leading name in the marine industry for many years now. Our Marine Inspectors, Surveyors, and Assessors offer ethical and transparent ship inspection services. With our ship inspection services, we aim to mitigate the financial risks. Our services also help in forecasting operating costs and capital expenditure in the next 3 to 5 years of vessel operation after purchase. Minimizing all the hidden costs can be very advantageous while investing in an asset like a ship. We also provide services for vessel valuation based on market research adjusted according to the outcome of the vessel condition survey. We provide data-driven ship condition assessment that helps our clients make wise investment decisions during ship sale and purchase. With a fast turnaround time of our standardized reports, we provide our clients with the opportunity to make faster investment decisions as well. Connect with Sinotech Marine to make your asset investment fruitful.