86′ Reynolds Inc. commercial longliner

86 reynolds500

C & V SURVEY

Condition & Valuation

Client: Remove for Privacy “RP” Date of report: November 15th 2011
Location: Removed for Privacy Our file #: 11 – 27401
Date of inspection: November 11th 2011

VESSEL DESCRIPTION

Builder: Reynolds, Inc. Long Beach, CA Model/type: Trolling / long line fishing vessel
Year: 1973 (completed 1974) Doc. #: “RP”
Hailing Port: XXXX, WA Length: 86’ (77.4’ Doc.)
Draft: 12’ (full) Beam: 19’
Name: “RP” HIN: “RP”
Engine/MFG: Cummins H.P. per: 250
Serial number: CPL # 4/27189601 Type of install: Diesel, 6 cylinders,
Generator: 20 KW Lima               turbo- charged, keel cooled, dry stack exhaust

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 satisfactory. The vessel is 119 gross tons (document) and 35 net. Exterior rails and hardware appear satisfactory. Cosmetic condition of vessel appears satisfactory externally and satisfactory internally. Vessel’s external colors are white with black stripes. Below waterline through hull fittings appear satisfactory. The vessel is equipped with and two submersible electric/automatic bilge pumps and an emergency raw water pump with bilge manifold that appear satisfactory and the bilge is holding moderate water in the engine room. The ventilation system consists of a blower and natural ventilation and appears good. General housekeeping appears satisfactory.

Summary: Satisfactory – Good

MACHINE SYSTEMS

Engine’s external surfaces appear satisfactory and exhibit no rust, oil or coolant leaks. Engine hour meter exhibits 6082 hours, actual hours are reportedly 4882. Motor mounts appear satisfactory. Cooling system appears satisfactory. Fuel system and components appear satisfactory. Exhaust system and components appear satisfactory (dry). Electrical system and components appear satisfactory. Engine control system appears satisfactory and shaft log appears satisfactory. Steering control system appears satisfactory and rudder port appears satisfactory. Propulsion components were not inspected. Generator surfaces and motor mounts appear satisfactory. Generator’s peripheral components and systems appear satisfactory. Waste system and components appear satisfactory (no holding tank). General service seawater systems appear satisfactory.

Summary: Satisfactory

FUEL SYSTEM

There is a 2100, 4800 and 1000 gallon fuel capacity in one bow, two wing and two stern tanks located in the bow, amidships and aft. 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 – Good

ELECTRICAL SYSTEMS

The AC shore cord, inlet and connections appear satisfactory – good. The AC wiring and outlets appear satisfactory. The AC main feeds 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 – marginal.

Summary: Satisfactory

SAFETY AND LIFE SAVING

Vessel has seven portable fire extinguishers with current certification – May 2011. Vessel has a Fireboy 200CG halon 1301 fixed fire suppression system with current certification. The safety components include: no PFDs were seen aboard and three throwable PFDs; distress flares with current certification; a Beaufort 6-person life raft with current certification (May 2012); Navy type anchor with chain. Navigational and anchor lights appear satisfactory. Other safety equipment includes: EPIRB with current battery and hydrostatic release, five immersion suits and an emergency fire pump.

Summary: Satisfactory – Good

ELECTRONICS, TENDER(S), ACCESSORIES

Accessories include: Hydraulic windlass, anchor roller, foremast with bow poles, Furuno radar/plotter, ICOM IC-718 HF transceiver, Midland code group radio, ICOM IC-M402S VHF, ICOM digital VHF, Furuno GPS Navigator, Last Watch II watch alarm, computer monitor – email, chart plotter, Furuno extending sonar, Furuno RD-30, Furuno FCV-292 color video sounder, Comnav 1001 autopilot, Furuno Navnet 3D plotter/radar, helm chair, vessel monitoring system, Insignia stereo amplifier, engine instrumentation includes tachometer with hour meter and pyrometer in pilothouse, hertz meter, one AC and two DC voltmeters, Newmar RM2010 pilothouse battery charger, Sylvania TV, 20 h.p. Yamaha four stroke outboard engine, West Marine 12’ inflatable (in bag), dehumidifier, insulation on interior of vessel, spear guns, head has electrical head, sink and shower enclosure, one 5,500 gallon (approx.) freshwater tanks, tools, three freezers, captain’s cabin includes head with electric head, shower and sink, LG TV, scuba dive gear (tanks and compressor), fish hold Whirlpool clothes washer and dryer, spare parts, second LG TV, dinette, refrigerator, Hamilton Beach coffeemaker, galley sink, Brown 4 burner electric range, small galley appliances, plasma welding cutter, acetylene torches, aft multi-purpose “fish” well, two hydraulic pinch pullers, Twin Disc 509 transmission, two engine driven PTOs for generator and refrigeration and one for hydraulics, two separate air blast refrigeration systems with five F60 compressors, air compressor (tools), oil change pumps, engine room engine instrumentation includes oil, amps and water temperature, raw water pump, Detroit Diesel 353 auxiliary engine – model 5033-7101 and serial number 3D-60272, PTO on auxiliary engine for refrigeration, generator or raw water pump, water pressure pump, water heater, drill press, spare generator (electrical unit), four 8D batteries in engine room and two smaller batteries in pilothouse, dual Racor fuel/water separator filters, hydraulic tank, clean oil tank, portable dirty oil tank, Lubri-finer fuel filters, alarm system, hydraulic steering system with dual actuators, 30 amp shore power inlet, two shore power cords, deck wash down system

SUMMARY

The client is the operator of the vessel and stated that he has been aboard as crew and operating the vessel for many years. He is in the process of purchasing the vessel, the purchase is no way dependent on this survey and this limitation was discussed with the client. The vessel was reportedly built in Long Beach, California in 1973 and 1974. The vessel was stretched by 14’, which was added amidships in 1996 at Fashion Blacksmith, Crescent City, California. The engine is reportedly original and it was originally rated at 335 h.p. and has been de-powered to 250 h.p. It was rebuilt in the fall of 2010 at Westport Diesel, Westport, Washington. The vessel is used to troll for Albacore tuna. The operator reports that the vessel uses 100 gallons of fuel per day in average and the largest haul has been 72-tons. The operator is a prior working engineer and he exhibited extensive knowledge of the vessel and its systems. He stated an ultra-sonic inspection found the hull plating in good condition, with 5/16” being the “thinnest” spot near the rudder. This area was cut out and replaced. He stated that he performed a “re-wiring” of the vessel in May of 2011. The vessel is basically structurally and mechanically sound. Upon completion of recommendations and a few ongoing projects, the vessel will be suitable for its intended purpose as a commercial trolling vessel.

Overall Summary: Satisfactory

VALUES

ACTUAL CASH VALUE
NEW REPLACEMENT VALUE
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.

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. Clean the steaming light which is covered with soot to allow proper visibility. Modify as necessary to eliminate the repetition of this condition.
2. Conclude the installation of the satellite compass, the unit has been purchased and is aboard.
3. Secure the auxiliary engine’s crank case ventilator collector to prevent any accidental spill of oil into the bilge.

NOTES

1. There is Splash Zone on top of the raw water pump and the operator states that this was a repair for a minor leak. Monitor this condition and repair if/as necessary.
2. Address the flinging of oil/grease by the PTO forward of the main engine, modify to eliminate this condition. Clean grease and oil to allow detection of any future weeps or problems.
3. Clean the water from the engine room bilge; it is reportedly residual from cleaning the engine room.
4. Complete minor maintenance projects pending on the auxiliary engine.

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.

_______________________                         November 15th 2011
By: Mr. Kells Christian, Surveyor                          Date
S.A.M.S. – A.M.S. # 301