Appraisal
| Client: Removed for Privacy | Date of report: April 15, 2021 |
| Current owner: Removed | Our file #: 21 – 20037web |
| Location: San Diego, CA | Date of inspection: March 9, 2021 |
Scope of Services
The vessel was examined by the surveyor and/or surveyor’s agents from all accessible areas of the interior without removal of secured panels, destructive testing or disassembly. The hull bottom laminate, plating and/or planking was examined by percussion sounding and visual inspection only. No moisture content readings were taken, and no destructive testing was performed. The surveyor may have used a moisture meter if/when they deemed it useful or if specifically requested by client.
Exterior hardware was visually examined for damage and drive components were tested by sight only. The inspection of engines, generators, machinery and related mechanical systems is not within the scope of this survey. Only a brief cursory inspection of the machinery was conducted, and no opinion of their overall condition was formed. Client shall retain the services of a qualified mechanic, engine surveyor or other expert to inspect such engine, generators, machinery and related mechanical systems. Tankage was inspected from visible surfaces only and no opinion was rendered as to their overall condition. On sailing vessels, the rig was not inspected aloft, nor were sails inspected unless they were visible during a sea trial. Client shall retain the services of a qualified rig surveyor or other expert to inspect sails, rigging and equipment. The electrical system was visually inspected where accessible, and electronic and electrical components powered only with permission of or in the presence of the vessel’s owner or agent. No in-depth testing or examination of the electrical system or electric schematic was conducted. Specifications were taken from published sources, measurements if made, should be considered approximate. The recommendations are based on federal and state regulations, industry standards, and/or surveyor‘s own personal experience.
The market value is based on research of available new/used comparable vessels, with consideration of geographic area where the vessel is located and reported sale prices where available. The surveyor will refer to and may reference CFRs, NFPA and ABYC recommendations (and/or other services) as the surveyor deems reasonable but not all regulations and recommendations will be applied nor should this report be relied upon as full compliance with the aforementioned entities. Every vessel inspection is different, and limitations may alter the scope of this survey, some limitations will be implied in the text of the report and some will be explicitly detailed. A Marine Survey Agreement which is reviewed and signed by the client details the terms governing this marine survey.
VESSEL DESCRIPTION
Builder: Unknown/US Navy conversion
Model/type: Passenger fishing
Year: 1944
Length: 89’
Draft: 6′ (approximately)
Beam: 22′
Name: Removed
Hailing Port: San Diego, CA
HIN: None
Reg. / Doc. #: Removed
Engine/MFG: Two Detroit Diesel/MTU (Tier 2) 2007 560 Marine HT EXC
H.P. per: 475 @ 1800 rpm
Type of instal.: Diesel, six cylinders, turbocharged, v-drives
Generator: Two 40Kw Deere/Stamford
HULL & STRUCTURE
The vessel was inspected while afloat. Hull construction material is double planked mahogany with epoxy below the waterline. Deck is constructed of fiberglass over plywood and above deck structurers are constructed of fiberglass over plywood. Bulkheads are constructed of wood. Overall condition of the hull structure appears to be satisfactory. The vessel’s weight is unknown. Exterior rails and hardware appear satisfactory – good. Cosmetic condition of vessel appears satisfactory externally and internally. Vessel’s external colors are white with green stripes and gray deck. Below waterline through hull fittings appear satisfactory. The vessel is equipped with two AC pumps on manifold, and four submersible electric / automatic bilge pumps that appear good and the bilge is holding minimal water. The ventilation system consists of natural ventilation and appears satisfactory (work underway). General housekeeping appears
satisfactory (work underway).
Summary: Satisfactory
MACHINE SYSTEMS
Engines’ external surfaces appear satisfactory and exhibit no significant rust, oil or coolant leaks. Engine hour meters exhibits 37590 and 37501 hours. Motor mounts appears satisfactory. Cooling systems appear satisfactory. Fuel system and components appear satisfactory. Exhaust system and components appear satisfactory. Electrical system and components appear satisfactory. Engine control system appear satisfactory and shaft log appear satisfactory. Steering control system appear satisfactory and rudder port appear satisfactory. Propulsion components were not expensive. Generator surfaces and motor mounts appear good – excellent. Generator’s peripheral components and systems appear good – excellent. Waste system and components appear satisfactory. General service seawater systems appear
satisfactory.
Summary: Satisfactory – Good
FUEL SYSTEM
There is 3700 gallon (reported) capacity in four steel tanks located in the engine room. Fuel tank surfaces, where visible, appear good, and the securing mechanism appears good. The fuel fill, vent, feed and return lines and components appear satisfactory.
Summary: Satisfactory
ELECTRICAL SYSTEMS
The AC shore cord and connections appear satisfactory (hard wired). The AC wiring and outlets appear satisfactory. The AC main feed are protected with circuit breakers. Battery arrangement appears satisfactory. Batteries are equipped with a disconnect switch. 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’s portable fire extinguishers include: six units (scheduled for replacement). Vessel’s fixed fire suppression system is: CO2 system in engine room, annual maintenance date April 2019, Ansul system for galley tag date March 2021. The safety components include numerous PFDs and three throwable PFDs; distress flares with expired certification; March 2020, life rafts with current certification; suitable first aid kit; 110lb. claw anchor with chain and line rode that appears satisfactory. Navigational and anchor lights appear good. Vessel has current navigation rules. The vessel includes no CO alarms Vessel has oil, waste placard and waste management plan. Other safety
equipment includes numerous first aid kits, fire axe, highwater alarm.
Summary: Satisfactory
DOCKING
The vessel was inspected at its normal slip location. Lines condition and arrangement appears satisfactory. Boarding hazards appear insignificant.
Summary: Good
ACCESSORIES
Newmar PT-25-45U and PT-24-40 battery chargers, Racor fuel filters with vacuum gauges, engine room electrical distribution panel, Lewco 1220-ACD battery charger, Offshore Marine Laboratories water maker, seven LED floodlights, flybridge freezer, pilothouse with helm console, Furuno Navnet-multi function device, two MTU electronic instruments, Helm
alert watch alarm, ComNav 1001 autopilot and rudder angle indicator, MTU electronic engine controls, ComNav jog stick steering control, Wesmar extending sonar (being replaced with Furuno unit), Furuno FCV-295 sounder, two video monitors, emergency engine controls, alarm panel, Lewmar 1220ACD battery charger and two pilot house batteries below console, two electric subpanels below pilothouse console, IC-M802 HR Marine transceiver, Fusion MS-RA55 stereo, IcomIC-M700PROSSB Radio, Mitsubishi sc telephone, large aft and small bow bait tanks, electric windless, two refrigerated fish holds, HVAC system, hydraulic steering system with two activators, wells electric grill, electric oven, double galley sink, refrigeration, beverage refrigerator, microwave oven, burn coffee makers, dining areas and bar with stools, two day heads, forward crew cabin, freezer in crew cabin, Flotec fresh water pressure pump with pressure accumulator tank, Rheem 30 gallon water heater, two passenger bunk rooms
SUMMARY
The vessel is a wooden passenger fishing vessel equipped with two diesel engines and two diesel generators. The vessel was reportedly built for the US Navy and was converted into an inspected passenger fishing vessel. The client purchased partial ownership of the vessel in 2010 and purchased the remaining interest in 2012. The undersigned surveyor surveyed the vessel in March of 2020. The prior survey was referred to and a new inspection was performed for the purpose of this appraisal. The client stated the hull bottom was refastened over a five year period at Ventura Harbor Boatyard. The vessel was completely rewired three years ago by the crew with the assistance of Mr. Greg Hibbs. The vessel was reportedly built in Wilmington, CA. The vessel has a current Certificate of Inspection with expiration date 15 January 2025 for Zone 4 and 45 passengers. The vessel was inspected while afloat. The vessel is in the midst of repairs and maintenance, including the installation of a new engine for the port generator, modifications of the fish boxes, installation of new water tanks and other maintenance items. The client reported that since our prior survey they installed a new engine on the starboard generator, upgraded the bilge pumping system with new plumbing and pump. Safety system maintenance which is underway includes fire extinguishers and life rafts. The vessel is in satisfactory structural condition. The vessel is suitable for its current use. No sea trial was performed and the vessel was not hauled
for survey.
Overall Summary: Satisfactory
Standard form key: We use subsection and overall ratings to summarize conditions found, based upon their appearance. Ratings include: Not examined, Not applicable, Faulty, Marginal, Satisfactory, Good, Excellent.
VALUES
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ACTUAL CASH VALUE |
NEW REPLACEMENT VALUE |
INVESTMENT |
|
Removed |
Removed |
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. 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. The most relevant data found while researching the value is included below. We primarily use market value analysis methodology for determination of value.
Explanation of value opinion: The value is based on the data below from various web sites, our prior appraisal and our in house data base. The local passenger fishing vessels are usually sold privately with no data base of value, but our data base reflects research done locally. The value attempts to value only the vessel, not the business, though most vessels are sold with the business and thus separation of the “business” portion of the value is not “analytic”. This value is slightly lower than the prior value primarily due to the unknown affect from Covid-19 on the industry.
RECOMMENDATIONS
These recommendations are the surveyor’s ideas and suggestions for addressing deficiencies with damaged or suspect components or systems found during survey or general improvements. The primary recommendations address safety items, structural issues, operational issues or deficiencies which the surveyor determines are of greater importance or more expense than secondary deficiencies. For instance, items that pose a risk to passenger safety or immediate property damage are listed under primary deficiencies and cosmetic concerns are addressed under secondary deficiencies. Most of the recommendations have been addressed in the comments and usually they are discussed at the time of the inspection.
PRIMARY
- There are heavy salt crystals on and about the port shaft seal, and salt crystals accumulated to a lesser extent about the starboard shaft seal. Clean the salt crystals to allow detection of any significant water intrusion conditions.
- There are heat damaged electrical outlets to port aft overhead in the engine room and aft in the pilothouse, replace these outlets.
- Complete the various maintenance and installations which are underway and prove components and systems properly functional prior to operation.
SECONDARY
1. New wrinkle belly sections have been installed in the engine’s exhaust components. Clean the soot from the exhaust blankets before reinstalling the ventilation and assembly to allow detection of any future exhaust leaks.
2. Complete the repairs on the safety system, including: fire extinguishers, life rafts and the man overboard strobe (the strobe did not illuminate when tested).
3. There are wire nuts, stripped wires and alligator clips on a battery below the pilothouse helm console and the cover is off the battery. Properly make all connections and comply with ABYC recommendations.
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. 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.
I/we certify that, to the best of my/our knowledge and belief:
The statements of fact contained in this report are true and correct. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my/our personal, unbiased professional analyses, opinions, and conclusions. I/we have no present or prospective interest in the vessel that is the subject of this report, and I/we have no personal interest or bias with respect to the parties involved. My/our compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event. I/we have made a personal inspection of the vessel that is the subject of this report. This report should be considered as an entire document. No single section is meant to be used except as part of the whole. This report is submitted without prejudice and for the benefit of whom it may concern. This report does not constitute a warranty, either expressed, or implied, nor does it warrant the future condition of the vessel. It is a statement of the condition of the vessel at the time of survey only. The submitting of this report creates no liability on the part of Christian & Company or the individual surveyor. This survey report is not intended for use as a “buyer’s survey”.
Christian & Company, Marine Surveyors, Inc.
April 15, 2021
By: Mr. Kells Christian, Surveyor SAMS – AMS #301