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Marine Assessments

By understanding the actual condition of your asset, sound management decisions can be made, driving reliability, efficiency and profitability. Whether for a newbuild or existing vessel, our survey and inspection services can provide valuable condition details. As part of our report, we prepare an executive summary with an extensive photographic record and relevant vessel drawings.


Surveys and Evaluation Solutions

Condition Assessment Program

We assist the marine industry with maintaining the efficient operation of vessels of varying ages through our Condition Assessment Program (CAP), a voluntary program that provides a rating for older ships carrying cargo such as bulk, oil, freight, LNG and LPG.

CAP is the recognized method for a ship owner to demonstrate the quality and suitability of a vessel for charter. The program provides a charterer with a technical evaluation that determines whether or not an older vessel has been maintained to a standard that should minimize the possibility of a casualty, oil spill, mechanical failure or General Average Claim.

The program includes a detailed survey of the structure's gaugings as well as extensive testing of the vessel's machinery, equipment and cargo systems. This information combined with a strength and fatigue engineering analysis leads to a numeric rating being assigned to the vessel. A rating of CAP 1 (Very Good) or CAP 2 (Good) has become an industry best practice that is required by most charterers.


Project Management

ABS Group provides a ship owner with tailored project management services that may promote efficiencies and help minimize the risk of unexpected delays, technical inaccuracies and cost overruns. These services can be made available for newbuild projects, for major modifications and repairs or to evaluate potential projects as to their feasibility.

  • Owner's representation
  • Project management services
  • Guarantee period support
  • Hull and machinery engineering review
  • Supervision of installation, commissioning and repair

Condition Surveys and Fair Market Value

Owners must protect the value of their marine assets. For clients selling or purchasing marine assets, shipboard surveys provide valuable information as to a vessel's condition and fair market value. Often performed on short notice, a shipboard survey is crucial to evaluate the condition of the ship and its associated machinery. Since offers are often valid for a short period only, the information is critical when determining a counteroffer to the asking price.

ABS Group appraisers are members of the American Society of Appraisers and proficient in the application of the Uniform Standards of Professional Appraisal Practice as promoted by the Appraisal Institute. Our appraisers are supported by a team of marine experts, naval architects, professional marine surveyors and industry technical experts.

Services to assist with determining fair market value, remaining useful life, residual value and replacement cost include:

  • General condition survey
  • Pre-purchase condition survey
  • On-hire and off-hire charterer condition survey
  • Protection and indemnity condition survey
  • Damage survey
  • Inclining experiment
  • Worldwide survey coverage on all sizes and types of vessels

Related Services

Inspection

Vessel owners trust ABS Group and the custom inspection solutions we provide, knowing that the experiences ABS Group has had with regulators yields thorough knowledge of international requirements and practices. We help companies:

  • Meet safety management system requirements
  • Determine if regulatory compliance applies

Structural Integrity

ABS Group can provide invaluable assistance in the form of criticality assessments, reviews and other calculations. We can determine where you need to focus any verification efforts. We verify compliance with, among others:

  • Design codes and standards
  • Project specifications
  • Underlying safety issues
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