79′ Ditmar & Donaldson passenger fishing vessel

2015-05-06 001 008

C & V Survey

Condition and Valuation

Client: Removed for privacy Date of report:        May 12, 2015
Location: Removed for privacy Our file #:             15 – 28491
Date of inspection: May 6, 2015

VESSEL DESCRIPTION

Builder:       Ditmar & Donaldson Doc. #:             Removed for privacy
Model/type: Passenger fishing Engine/MFG:   Two John Deere
Year:           1963 H.P. per:         455
Length:       79’ Serial numbers: P – Removed for privacy
Draft:           6’                           S – Removed for privacy
Beam:         23’ Type of instal. : Diesel, 6 cylinders,
Name:         “Removed for privacy” inboard, turbocharged
HIN:             None Generator:        Two 40 KW
Hailing Port: Removed for privacy

HULL & STRUCTURE

The vessel was inspected while afloat. Hull construction material is wood plank on frame.  Deck is constructed wood and above deck structures are constructed of wood.  Bulkheads are constructed of wood.  Overall condition of the hull structure appears satisfactory.  The vessel’s weight is unknown.  Exterior rails and hardware appear satisfactory – good.  Cosmetic condition of vessel appears satisfactory externally and satisfactory internally.  Vessel’s external colors are white.  Below waterline through hull fittings appear satisfactory.  The vessel is equipped with one AC, one starboard engine driven and one electric / automatic bilge pumps that appear satisfactory and the bilge is holding moderate water.  The ventilation system consists of two blowers and natural ventilation and appears satisfactory.  General housekeeping appears good.

Summary: Satisfactory

MACHINE SYSTEMS

Engines’ external surfaces appear satisfactory – good and exhibits no significant rust, oil or coolant leaks. Engine hour meters exhibit 11,770 and 11,773 hours.  Motor mounts appear satisfactory – good.  Cooling systems appear satisfactory – good.  Fuel systems and components appear satisfactory – good.  Exhaust systems and components appear satisfactory – good.  Electrical system and components appear satisfactory – good.  Engine control systems appear satisfactory – good and shaft logs appear satisfactory.  Steering control systems appear satisfactory and rudder port appears satisfactory.  Propulsion components were not inspected (vessel was not hauled).  Generators’ surfaces and motor mounts appear satisfactory.  Generators’ peripheral components and systems appear satisfactory.  Port generator’s serial # CD4045004 (hard to read).  Waste systems and components appear satisfactory.  General service seawater systems appear satisfactory.

Summary: Satisfactory – Good

FUEL SYSTEM

There is 1,500 gallon capacity (approx.) in four steel tanks located outboard amidships and aft. Fuel tank surfaces were not visible and the securing mechanism appears good.  The fuel fill, vent, feed and return lines and components appear satisfactory.  Fuel shutoff valves are located at the manifold to port aft in engine room and appear satisfactory.

Summary: Satisfactory

ELECTRICAL SYSTEMS

The AC shore cord and connections appear satisfactory. 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 satisfactory.  Wire organization and arrangement appears satisfactory.

Summary: Satisfactory

SAFETY AND LIFE SAVING

Vessel has seven portable fire extinguishers with current certification. Vessel has an AC electric pump seawater fire fighting system with two stations, a CO2 – (5/14) unit in the engine room and an Ansu / R-102 fixed fire suppression system in the galley.  The safety components include: twenty child type I and seventy six adult type PFDs, one life ring with strobe and three life ring throwable PFDs; distress flares with current certification; four life floats with four MOB strobe lights; suitable first aid kit; 110 lb. claw anchor with chain and rode that appears satisfactory.  Navigational and anchor lights appear satisfactory.  Other safety equipment includes: a high water alarm, 406 MHz EPIRB with current battery and hydrostatic release.

Summary: Good

DOCKING

The vessel was inspected at its normal slip location. Line condition and arrangement appears good.  Boarding hazards appear insignificant.  All entry points are reportedly kept locked.

Summary: Good

ELECTRONICS, TENDER(S), ACCESSORIES

Accessories include: Hydraulic steering, AC driven refrigerated fish hold (6 ton), 200 scoop – four tank aluminum bait system, two- two hundred gallon steel water tanks, clean oil tank, electrical meters in engine room include ammeter, hertz and volts, Racor fuel filters, tool box, Twin Disc 514 transmissions, ICOM IC-M802 HF transceiver, Last Watch # helm watch, ICOM IC-M302 VHF, Furuno radar, Furuno GP-1850 C-MAP NT, Kenwood TM-G707 dual band radio, ICOM IC-M506 VHF, ICOM D-star radio, JRC NCR-33 Navtex receiver, JMA-2300 raster scan radar, computer with Nobel Tec world charts, Comnav 1001 autopilot, PA system, Dynex monitor with Wesmar HD800 sonar and extending sound dome, Furuno FCV-295 dual frequency sounder, Ritchie compass, Twin Disc EC-300 electronic engine controls, rudder angle indicator, engine instrumentation includes electronic gauges, tachometers, oil pressure, gear oil pressure, volts and load, Sirius satellite radio, Mitsubishi satellite telephone with dispatch system, electric meters at helm include two DC volts and AC hertz, pilothouse with helm, berth, helm chart bench seat, chart inventory, second set of engine controls (aft), crow’s nest, six table dining room, exterior male and female heads, commercial galley with beverage refrigerator, sink, grill, char broiler, oven, microwave and two refrigerators, crew cabin, Village Marine Tec water maker, freezer, dehumidifier, two plastic holding tanks, freshwater pump with pressure accumulator tank, bunk rooms

SUMMARY

The vessel is a wooden plank on frame passenger fishing vessel equipped with two diesel engines and two diesel generators. The current owner purchased the vessel from his father in 2005.  His father operated the vessel since the 1980’s.  The current owner re-powered the vessel in 2006 with new engines, one new generator and the transmissions were rebuilt.  The vessel was inspected while afloat, no sea trial was performed and the vessel was not hauled for survey.  The vessel has a Certificate of Inspection (COI) for 49 passengers.  The vessel appears basically structurally and mechanically sound.  The vessel appears actively and well maintained.  The vessel is well suited as a passenger carrying fishing vessel.

Overall Summary: Satisfactory – Good

Comparable vessel sample

1974 76’ Ditmar & Donaldson motor vessel (no COI)

1946 79’ J.M. Martinac motor vessel (no COI)

1973 61’ Moyer, (COI 49 passenger)

1950 56’ Cruzon, (COI details unknown)

1972 62’ Breaux, (COI 33 passenger)

1987 65’ party head boat, (COI 100 passengers)

1978 65’ Breaux, (COI 150 passenger)

The value of this boat is also based on the undersigned surveyor’s recent appraisal activity of similar vessels in the Southern California market and the research done for those vessels, including:

1961 65’ Cruzon (COI 49 passengers)

1981 60’ Seaway (COI 49 passengers)

1976 62’ Seaway (COI 49 passengers)

The above were valued between $400,000 and $600,000.

Also considered were the reported sales prices of the vessels “Freedom” and “Liberty” of approximate similar value.

A vessel in this industry is usually sold with its book of business and its relationship with the sportfishing landing, the value below does not include the value of the business.

ACTUAL CASH VALUE

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.

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

This survey is for the express purpose of financing. It is not meant as a buyer’s survey.

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 the expressed purpose of obtaining insurance/finance and should provide the information necessary for underwriting purposes. 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.

 

________________________________                       May 12, 2015

By: Mr. Kells Christian, Surveyor                                                Date

S.A.M.S. – A.M.S. # 301