The Ship Valuer's Handbook, 1st Edition 2020

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This book provides a methodical approach to the appraisal of ships within their own Class and within their trade using statistical and historical data as working tools but, most importantly, recognizing the intended use of the valuation.

This book outlines the role of a ship valuer and highlights the importance of the criteria of assignment, which is the underlying foundation of all valuations. Among other things, it protects the valuer against improper use of their valuation and against legal action in disputes over the ship’s value.

The handbook also discusses each stage of the valuation process, explaining the principles of valuing ships, types of valuation and the terminology used, research and data collection, conducting the valuation and producing the certificate of valuation and the valuation report.

Valuing requires years of practical experience, but it is hoped that this publication will support valuers with useful advice and information.





Part 1 An Introduction to Valuing Ships

A science or an artform?

Every ship has a value

The role of the valuer – responsibility, exposure and protection

Impartiality and credibility

Professional regulation

Appointment of valuers

Degrees of difficulty in valuing ships

Valuation appraisals


The shipbroker as a valuer

Part 2 The Principles of Valuing Ships

The building blocks

The criteria of assignment

The valuation scale

Research and data collection

Range of valuations

Laid up versus in service

Market corrections

Market bandwidth

Value adding

Multiple sales

Economic life

Desktop valuations and the condition survey

Part 3 Types of Valuations and Terminology Used

Why value

Fair market value

Asset values

Marine insurance

Insurable interest

Insurable value

Relocation costs

Replacement costs – marine insurance interpretation

Increased value

Banks and financial institutions

Finance security valuations

Forced sale valuations


Replacement value

Disposal of laid-up ships

Scrap values

Auction reserve values

Bonding or security value

Valuations for imported ships

Residual values

Past values

Fleet valuations

Pre-purchase values

Valuation of fishing vessels

Valuation of naval vessels

Valuation of historical ships

Valuation of recreational vessels and yachts

Part 4 Research and Data Collection


The valuer’s personal database

Information supplied by the owner

The status of the ship

The condition survey

The role of the shipbroker

Broker input

Recent sales

Historical values

Shipbuilding costs

Ship repair costs

Impact of scrap values

Negative scrap value

Market influences

External influences

Part 5 Conducting the Valuation

The valuation process

How to go about valuing a ship

Beginning the valuation work

Part 6 The Certificate of Valuation and the Valuation Report

The certificate of valuation

The valuation report or booklet

The currency used for valuations

The validity of the valuation

Taxation implications

The disclaimer

Confidentiality and copyright

Author’s note


Appendix I: Valuation Graph (Typical)

Appendix II: Valuation Work Sheet

Appendix III: Ship’s Certificate of Valuation for Insurance (Sample)

Appendix IV: Ship Valuation Report for Finance Security Purposes (Sample)

Appendix V: Certificate of Valuation for Small Ships/Fishing Vessels for Insurance Purposes (Sample)

Appendix VI: Small Ships/Fishing Vessels’ Valuation Report for Finance Security Purposes (Sample)

Appendix VII: Valuation for Bonding Purpose (Sample)

Appendix VIII: Fleet Valuation Summary for New Ships (Sample)

Appendix IX: Fleet Valuation Summary for Existing Ships (Sample)


Title: The Ship Valuer's Handbook
Number of Pages: 102
Product Code: WS1743K
ISBN: ISBN 13: 978-1-85609-899-1 (9781856098991), ISBN 10: 1-85609-899-0 (1856098990)
Published Date: March 2020
Binding Format: Paperback
Book Height: 246 mm
Book Width: 189 mm
Weight: 0.40 kg