SHIPPING INTELLIGENCE, INC.
We at Shipping Intelligence have been valuing ships for some time. We value
Individual Ships, Portfolios of Vessels and Company Fleets.
We use as the basis for our appraisals our extensive database of ship sales
and our knowledge of the market gained from building that database.
Our valuations are based solely on the actual transactions of the resale market
and our analysis of it.
We strive to eliminate any bias or opinion that might influence the final value.
A CAUTIONARY NOTE
The ship valuation process often becomes newsworthy - primarily
because of legal action taken by unhappy investors
who seem to feel that they were misled by biased and inaccurate appraisals.
Perhaps they were. But the ship resale market is usually so volatile that any estimate of a ship's current worth should
have an expiration date - perhaps valid for a month or so. Even if the market were not so volatile,
the normal process of depreciation would render any appraisal suspect within a year.
Further, while ship's worth is usually meant to mean the resale price between willing buyer and willing seller,
that is rarely the case when prior valuations are called into question. Using willing buyer/willing seller appraisals to
evaluate collateral in a distress or bankruptcy situation is unrealistic and unwise; in such cases, current valuations provide
only a ceiling below which actual prices will be found - sometimes far below.
The Shipping Intelligence SHIP VALUATION (DESK APPRAISAL) is available for a wide range of sizes and ages of
many vessel types. Appraisals can be prepared for any
date, current or within the past 20 years.
The SHIP VALUATION (DESK APPRAISAL) is unique in providing:
Each SHIP VALUATION (DESK APPRAISAL) consists of four parts:
- SHIP MARKET VALUE.
- CONFIRMING COMPARABLE SALES.
- HISTORICAL CONTEXT.
(1.) SHIP MARKET VALUE. The value as of the date specified.
(2.) COMPARABLE SALES. Actual sales that provide real market confirmation of the calculated value for the
date specified. These actual sale prices are adjusted, where appropriate, for differences in age, deadweight
and market volatility.
(3.) DISTRIBUTION OF HISTORICAL SHIP RESALE PRICES. Graphic display of how much
such ships (of similar type/deadweight/age) have sold for in the past, and with what frequency. The position of
the current resale value in the distribution is indicated.
(4.) DISTRIBUTION OF EXPECTED FUTURE PRICES. Graphic display of how much
such ships (of similar type/deadweight/age) have sold for one year after
selling for the appraised value in the past.
Note: Less comprehensive appraisals are available for ship types other than tankers
and dry bulk carriers. Those valuations are based primarily on comparable sales since
there is insufficient data for fuller analysis for those
Inquiries should be directed to:
Sydney P. Levine, President
SHIPPING INTELLIGENCE, INC.
P.O. Box 1019
New York, NY 10024 USA
Tel: (212) 997-0966, Fax: (212) 595-7918
Send email to: SPL@SHIPINTEL.COM