111′ Nichols Brothers passenger vessel

C & V SURVEY

Condition & Valuation

 

Client: Removed for Privacy Date of report:       March 14, 2013
Location: Removed for Privacy Our File #:              13 – 27848
Date of Inspection: March 8, 2013

VESSEL DESCRIPTION

Builder: Nichols Brothers Boot Builders Doc. #:           Removed for Privacy
Model/type: Passenger vessel HIN:           Removed for privacy
Type of instal: Diesel, 12 cylinders, twin turbo charged, after cooled, keel cooled Hailing Port: Removed for privacy
Year:             1977 H.P. per:       735 @2300 rpms
Length:          111’ (LOA) Draft:             8’
Beam:           27.1’ Name:           “Removed for privacy”

HULL & STRUCTURE

The vessel was inspected while afloat. Hull construction material is steel. Deck is constructed of steel and above deck structures are constructed of steel. Bulkheads are constructed of steel. Overall condition of the hull structure appears good. The vessel’s weight is reportedly 496,000 lb. (travel lift’s scale). Exterior rails and hardware appear good. Cosmetic condition of vessel appears satisfactory – good externally and satisfactory internally. Vessel’s external colors are black and white. Below waterline through hull fittings appear satisfactory (not tested). The vessel is equipped with an AC bilge pump and manifold aft in engine room which can be also used as a fire pump (or vice versa). The ventilation system consists of two engine room blowers and natural ventilation and appears satisfactory. General housekeeping appears satisfactory (work is underway).

Summary: Satisfactory – Good

MACHINE SYSTEMS

Engines’ external surfaces appear good and exhibit no rust, oil or coolant leaks. Engine
hour meters exhibit 5300 (port) and 5227 (starboard) hours. Motor mounts appear good.
Cooling systems appear good. Fuel systems and components appear good. Exhaust
systems and components appear good. Electrical systems and components appear
good. Engine control systems appear good and shaft log appear good. Steering control
systems appear satisfactory and rudder ports appear satisfactory – marginal (water leak
to starboard). Propulsion components were not examined. Generator surfaces and
motor mounts appear satisfactory – good. Generator’s peripheral components and
systems appear satisfactory – good. Waste system and components appear satisfactory
– good. General service seawater systems appear satisfactory – good.

Summary: Good

FUEL SYSTEM

There is 2,200 gallon (reported) capacity in an unknown number of tanks located in the
bilge spaces. Fuel tank surfaces, where visible, appear satisfactory and the securing
mechanism appears good – excellent. The fuel fill, vent, feed and return lines and
components appear satisfactory.

Summary: Satisfactory

ELECTRICAL SYSTEMS

The AC shore cord, inlet and connections appear satisfactory (in use – connection not
disconnected). The AC wiring and outlets appear satisfactory. The AC main feed are
protected with circuit breakers. Battery arrangement appears satisfactory. Batteries are
equipped with disconnect switches. DC wiring appears satisfactory. Circuit protection
for the AC and DC branch system appears satisfactory. Wire terminations and
connections appear good. Wire organization and arrangement appears good.

Summary: Satisfactory – Good

SAFETY AND LIFE SAVING

Vessel has seven portable fire extinguishers with current (Feb 2013) certification.
Vessel has two fixed fire suppression systems. There is a raw water system with
stations (hoses and valves) on the upper deck at pilothouse, one aft on the second deck,
one to port on the main deck, and one aft on the main deck. This system includes an
AC fire pump with manifold aft in engine room. There is also an engine room Kidde CO2
system. The safety components include: four hundred adult type I, forty child type I
PFDs and five throwable PFDs (one with MOB strobe and two with retrieving line);
distress flares with current (April 2016) certification; suitable first aid kit; one anchor with
chain and line rode that appears satisfactory. Navigational and anchor lights appear
good. Other safety equipment includes: fire axe, air horn, ship’s bell, 406 MHz EPIRB
with hydrostatic release, two MOB strobes in boxes, life sling.

Summary: Satisfactory – Good

DOCKING

The vessel was not inspected at its normal slip location.

Summary: N/A

ACCESSORIES

Enclosed pilothouse, chart table, pilothouse bench seat, pedestal
helm chair, alarm panel, Simrad AI80 keyboard display, upper deck floodlight, upper
deck camera, air compressor, two Standard Infinity VHFs, electric subpanel in
pilothouse, Mastervolt Power charger 12/20-3 pilothouse battery charger, hydraulic
steering system with pilothouse and two wing station controls, Murphy gauge on steering
fluid reservoir, Trace mode U2624 SB inverter (emergency power system), Wagner MK
IV autopilot, windshield wiper, Garmin GPS MAP 162, Wagner rudder angle indicator,
Saura compass, pilothouse engine instrumentation includes two tachometers, two hour
meters, two engine oil pressure, two transmission oil pressure, two transmission oil
temperature and two temperature, ZF electronic engine controls with pilothouse
centerline and two wing stations, steering controls include pilothouse steering wheel and
joy sticks on centerline and two wing stations, Datamarine International Offshore depth,
Garmin GPS MAP 740s with radar and plotter, binoculars, intercom, two second deck
cameras, main deck bar with beverage dispensing system, sinks and double refrigerator,
Manitowoc icemaker, FHP energy systems model SL030-3 HVAC unit, Vanguard model
6E730 water heater, PA system, Panasonic inverter, The Genius sensor 1250W
microwave oven, five guest heads on main deck, commercial galley includes two Alto
Shaam ovens, Southbend oven, Hobart dishwasher, sink, four warming devices, True
refrigerator, time clock, Philips TV, two water pressure pumps, Lewco model FS2440
ACD battery charger, Vanguard model 6E730 water heater, ZF transmissions model
BW195 – ratio 2.571:AI, port serial # 2774 and starboard serial # 2775, engine room
generator instrumentation includes oil pressure and temperature, engine room engine
instrumentation includes tachometer, oil pressure and temperature, hydraulic motor with
electric pump, electric waste pump

SUMMARY

The vessel is a steel passenger carrying vessel equipped with two diesel engines and
two diesel generators. The vessel was built in 1977. The client purchased the vessel in
October 2012, apparently from a lender. The client reports that the engines were
installed in 1999, apparently by the builder of the vessel. Since purchasing the vessel,
the client has upgraded the vessel. The vessel was hauled at Knight & Carver Yacht
Center (San Diego); the undersigned surveyed the hull bottom at that time. An
ultrasonic inspection was reportedly performed for hull plate thickness, several inserts
were added to replace plating which was found thin. Two new propeller shafts’ packing
glands were installed. Other upgrades include electronics, EPIRB, broken ceiling tiles
and replacement of lights. The entire exterior and interior of the vessel has been
repainted. Several pieces of cracked plexiglass have been replaced. The client stated
he spent approximately $280,000.00 upgrading the vessel since purchase. The client
believes that the certificate of inspection will be reinstated in the near future; a Coast
Guard inspection is scheduled for March 12, 2013. The engines were not tested and no
sea trial was performed at the time of the survey. The client reports that the vessel was
briefly test operated in the recent past and all mechanical systems functioned properly.
The vessel is basically structurally sound and suitable for its intended purpose as a
passenger carrying vessel. The certificate of inspection has not been reinstated and the
vessel is disorganized, but no significant deficiencies were noted.
The vessel has been certified to carry 350 passengers in protected waters, however the
certification of inspection is not current.

Overall Summary: Satisfactory – Good

VALUES

ACTUAL CASH VALUE – $500,000.00
NEW REPLACEMENT VALUE – $4,000,000
INVESTMENT N/A

The actual cash value is the value that our research approximates the selling price of this vessel should be, at the time and place of our inspection. The actual cash value is best determined by a thorough market search to determine what vessels are available on the market, followed by negotiations between the interested parties. Consideration is given to vessel’s condition, geographic location, published listings and guides, comparable sales and listings, and market conditions. The new replacement value is the cost of this or a similar, new vessel, comparably equipped. The investment is the reported investment including purchase price and significant upgrades. No values include maintenance costs, storage or tax. In most instances the data found while researching the value is stored in our file for this survey. We primarily use market value analysis methodology for determination of value.

The vessel was reportedly a functional passenger carrying vessel and thus its highest best use is as a functional passenger carrying vessel or yacht. It is basically a hull with no machinery and the electrical components in the hull have been damaged by a submersion. The value is for the hull in its current condition as a “project”.

C & V Form Key: All systems are rated based upon their appearance, ratings include: Not examined, Not applicable, Faulty, Marginal, Satisfactory, Good, Excellent.

RECOMMENDATIONS

1. Service and maintain the Ansul autopulse IQ-301 fire alarm system per the
manufacturer’s recommendations.
2. Display the hailing port on the transom.
3. Attach retrieving lines and MOB strobe lights to all life rings.
4. The engine room fire extinguishing system does not have a current tag. We
spoke with the technician who is servicing the system and he stated that the
system is in suitable condition for use and should be tagged in the near future.
The written report indicates that the generators were not tested. Assure that the
system is properly functional and provide and display an inspection tag.
5. Replace wing nuts used at battery terminals with steel nuts and lock washers.
Comply with A.B.Y.C. recommendations.
6. Return the portable extinguisher to the engine room, it was removed for painting.
7. Clean corrosion from the engine room ventilation flap assemblies, prove these
devices properly functional. Service if/as necessary.
8. Service and prove the starboard forward engine room light properly functional.
9. Eliminate the water leak from the starboard rudder port. Clean water and
corrosion from this area, prep and paint as needed to prevent future corrosion.
10. The vessel is equipped with one anchor, there is no windlass. The intended use
of the vessel is as a passenger carrying vessel in protected waters with no
anchoring. It anchoring is to be part of the normal usage of the vessel, a
windlass and a secondary anchor and rode should be brought aboard and
proved.

Notes

1. There is a loose blower and several tank access covers loose in the third from
forward bilge space. We did not inspect the tank diagram or determine which
tanks are designed to be used as ballast tanks (if any). Assure that any tanks
designed to be used as ballast are used as ballast, return tank or bilge space
access covers as necessary to comply with the design parameters.
2. Properly secure the loose CO2 bottles in the starboard locker forward of the main
deck bar.
3. Move the plastic storage rack which hinders access to the emergency escape
hatch to port of the galley.
4. The sole forward and aft of the galley is unfair, this is likely the top of tankage.
The significance of this condition if beyond the scope of this survey.
5. Many items are not currently stored for the movement of the vessel which will
occur while underway. Loose items include many items in the galley. Properly
store components before getting underway.
6. The generators’ controls indicate low battery voltage, address as necessary.
7. The Racor filter bowls for the port main engine are cloudy, replace as a matter of
maintenance.
8. The following components were not tested or inspected: engines and related
components, generators and related components, steering system, high water
alarm, fire fighting system including doors, door releases, automatic and manual
hatch closures and alarm system, seawater fire fighting system, bilge pumping
system, public address system, autopilot, waste system.

This survey sets forth the condition of the vessel and components, as specifically stated only, at the time of inspection and represents the surveyor’s honest and unbiased opinion. The submitting of this report should not be construed as a warranty or guaranty of the condition of the vessel, nor does it create any liability on the part of Christian & Company or the individual surveyor. No part of the vessel was disassembled or removed and no assumptions should be made as to the condition of concealed components. Specifics were obtained from sources available at the time of inspection and are believed correct, but are not guaranteed to be accurate. This inspection was performed for insurance and refinancing purposes and should provide the information necessary for underwriting. If any additional information is required, please contact the undersigned. This survey report is not intended for use as a “buyer’s survey”.

Christian & Company, Marine Surveyors, Inc.

_______________________                        March 14, 2013
By: Mr. Kells Christian, Surveyor
S.A.M.S. – A.M.S. # 301