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When it comes to assessing the value of a vessel-whether for sale, charter or insurance purposes-it is only right that every player involved in its exchange enters into the agreement armed with a complete understanding of the assets' true value; that is to say, a comprehensive understanding not only of the current monetary value of the asset but a clear picture of its ability to perform now and into the future. Each player also needs to have a clear view of any likely highcost capital requirements that may be just around the corner.
This is where the ship inspector, as the referee or the arbiter of facts, ensures that the game is fair for all involved in the transaction. It may sound obvious, but shipping is a high-stakes game, and you do not want to be the team that shows up unprepared. Having access to all of the facts is critical to ensuring that you can make informed decisions and control your business interests.
Analogies aside, ship inspection services are critical to owners and operators, charterers and the banks and finance houses that provide our industry with the capital it needs to function. Inspection services are pivotal to ensuring that vessels are fairly traded, financially viable assets that can offer a return on investment. Inspections are also fundamental to ensuring that vessels are built, maintained and operated safely and efficiently for all who have a stake in them.
And this is an important point: for all who have a stake in them. There is often an assumption that, as an industry, shipping operates in isolation. But we are propped up by a broad range of investment houses, hedge funds and high-street banks that take on significant risk in providing the capital and funds to keep us all working and the global world of trade spinning on the right axis.
Knowing How to Play Your Hand
Globally, banks hold tens of billions of shipping exposure. For many banks with investments in the shipping industry, an exposure of $5 to 6 billion in shipping assets is not unusual. While in global banking terms, such figures may not raise any eyebrows, these figures are more than just a...