Helping to safeguard your investment
We provide independent surveys and reports of the current condition, class status and life history of a vessel. These can provide vital information to help evaluate a proposed investment.
By identifying potential problems, we can help reduce the business and technical risks you face when buying or chartering a second-hand vessel.
We offer a range of services that aid buyers and charterers in decisions affecting the sale and purchase of ships.These independent services can help reduce the risk associated with secondhand vessel acquisition or charter, and they can be utilised individually or as a comprehensive package.
Examination of records
Whenever you are planning to buy an existing ship, you need an accurate history of the vessel to help you evaluate the investment potential. Without such information, defects arising from historical deficiencies may jeopardise the commercial viability of your proposed acquisition. And ships that do not meet specific classification requirements may not even qualify for statutory certification necessary to operate internationally.
We can examine ship classification records of any society and prepare a confidential report based on our findings that will help you assess the commercial viability of your acquisition.
We undertake three types of survey which can be tailored to suit your specific requirements. Each survey is independent of any classification requirements and
the class status of the vessel is unaffected by our report.
Pre-purchase condition survey
This survey is primarily carried out on behalf of potential buyers, but it is also used by banks, insurance companies and P&I clubs as part of their due diligence requirements. The survey consists of a rapid examination afloat of all readily accessible areas to ascertain the vessel’s condition and is usually carried out in one to two days.
The on-hire/off-hire survey, which is normally carried out in dry-dock, is a more detailed inspection of all areas of the ship intended to help identify damages and defects that may have arisen during a hire period. This type of survey enables the cost of damages to be assessed by the parties involved in the charter.
Specialised condition survey
The specialised survey is a tailored survey, usually carried out for a specific purpose, such as assessing the viability of extending a vessel’s useful life. Following the survey, recommendations can be made on advisable renewals of structure and machinery and repair specifications can be prepared.
Why use Lloyd’s Register?
Our global network of offices enables us to use experienced local surveyors, helping you save time and money. Consequently, we can provide your survey report promptly, enabling commercial and business decisions to be made quickly.
Our independence enables us to provide a genuinely impartial service, irrespective of the class of the vessel.
Summary of benefits
– Can help reduce the risks inherent in sale and purchase or chartering decisions.
– Earlier identification of deficiencies allows for more informed decisionmaking.
– Rapid, cost-effective deployment of local surveyors from our offices worldwide helps expedite delivery of reports.