Method

A highly qualified professional inspects the vessel at the location this might be. As a result, the emitted report includes a very accurate valuation, revealing information that would not be available to the appraiser otherwise.

It is a customary of trade that valuation certificates are issued on the assumption that the vessels are in working properly and without freight. The actual state of the ship is generally ignored, except if the assessor is given specific instructions for some particular circumstances that should be taken into consideration, e.g.: defects such as unrepaired damage or improvements, for example, extension certified by a classification society. Most appraisers include in their certificates the following lines:

"We assume the ship is working properly, and the sound sailing conditions of the hull and machinery that can be expected from a vessel of its age, size, type, undamaged, fully equipped, free of all conditions and charter free"