C & V SURVEY
Condition & Valuation
| Client: Removed for privacy | Date of report: May 14, 2021 |
| Our file #: 21 – 20059web
Current owner: Removed for privacy |
| Location: Marine Group Boatworks
National City, 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: Poole | Doc. #: Removed for privacy |
| Model/type: Passenger fishing | Engine/MFG: Three Caterpillar C18 |
| Year: 1975 | H.P. per: 715 @ 2,100 rpm |
| Length: 103’ 6” | Serial numbers: P – T2P01854 |
| Draft: 6’ (approximate)
Name: Removed for privacy |
C – T2P01853 S – T2P01855 |
| Hailing port: San Diego, CA
HIN: Removed for privacy |
Type of instal. : Diesel, six cylinders,
turbo charged, after cooled |
| Generator: Two 100 Kw Deere / Stamford |
|
HULL & STRUCTURE |
| The vessel was inspected while hauled. Hull construction material is aluminum. Deck is constructed of aluminum and above deck structures are constructed of aluminum. Bulkheads are constructed of aluminum. Overall condition of the hull structure appears satisfactory. The vessel’s weight is unknown. Exterior rails and hardware appear satisfactory. There is maintenance underway and the cap rails are being replaced. Cosmetic condition of vessel appears satisfactory externally and satisfactory internally. Vessel’s external colors are white paint with a gold boot stripe, green rub rail, and gold and green stripes on the superstructure. Below waterline through hull fittings appear satisfactory. There is rust visible inside tubes for two “sea chests” and on the through hull valves forward of and between the port and center engines. ABS (plastic) is in use in a starboard aft through hull. The vessel is equipped with an engine driven bilge pump with pickups located below the head in the forward passageway, below the head in the aft passageway, in the engine room, in the lazarette, in the anchor rode locker and below the water tank (not seen). The bilge pumping system was not tested but appears satisfactory and the bilge is dry. The ventilation system consists of natural ventilation and appears satisfactory. General housekeeping appears good. |
| Summary: Satisfactory |
|
MACHINE SYSTEMS |
| The three engines’ external surfaces appear satisfactory and exhibit no rust, oil or coolant leaks. There are salt crystals on the starboard engine exhaust tube to hose connection below the hatch and on the hatch. Engine hour meters were last recorded in February at P: 40,276, M: 37,196, S: 40,218 hours. Motor mounts appear satisfactory. Cooling systems appear satisfactory. Fuel systems and components appear satisfactory. Exhaust systems and components appear satisfactory. A clamp is missing from the port outboard engine exhaust discharge in the steering locker. Electrical systems and components appear satisfactory. Engine control systems appear satisfactory and shaft logs appear satisfactory. Steering control system appears satisfactory and rudder ports appear satisfactory. The rudder bearings appear different from side to side with the port being flush with the tube and the starboard bearing is approximately two inches up. Propulsion components appear satisfactory. The starboard strut bearing is “floated” at an angle inside the strut, the center bearing is not to the end of the strut and the port bearing is flush with the end of the strut. The propellers have been removed for maintenance. There is corrosion on the port propeller shaft seal bolts. Generators’ surfaces and motor mounts appear satisfactory. There are salt crystals on the starboard generator’s muffler. There are salt crystals at a junction in the starboard generator’s exhaust water supply hose. There is oil on the starboard generator. There are salt crystals at the engine exhaust hose to tube connection above the port generator. Generators’ peripheral components and systems appear satisfactory. Waste systems and components appear satisfactory. General service seawater systems appear satisfactory. There are corrosion and salt crystals on and below the HVAC pump to port forward in the engine room. There is a broken clamp at a small gray tube to hose connection center aft in the engine room. |
| Summary: Satisfactory |
|
FUEL SYSTEM |
| There is 19,000 gallon reported capacity in three tanks located below the aft bait tank, below the aft stateroom and below the forward stateroom. Fuel tank surfaces, where visible, appear satisfactory, and the securing mechanism appears excellent. The fuel fill, vent, feed and return lines and components appear satisfactory. Fuel shut off valves’ locations were not recorded. There is fuel in several of the Racor flame guards and several of the bowls are dirty. |
| Summary: Satisfactory |
|
ELECTRICAL SYSTEMS |
| The AC shore cord and connection were not inspected. The AC wiring and outlets appear satisfactory. The AC main feed are protected with circuit breakers. Battery arrangement appears good. Batteries are equipped with disconnect switches. DC wiring appears satisfactory. Circuit protection for the AC and DC branch system appears good. Wire terminations and connections appear satisfactory. Wire organization and arrangement appears satisfactory. There is a bulb exposed without a cover to port aft in the engine room. There are switches in a box with no face plate overhead center aft in the engine room. The light above the port generator is inoperative. |
| Summary: Satisfactory |
|
SAFETY AND LIFE SAVING |
| Vessel’s portable fire extinguishers include one type A size II, type B:C size I (inspected 06/2019) to starboard in the pilothouse, one type A size II, type B:C size I (inspected 04/2020) aft in the salon, two type A size II, type B:C size II (inspected 04/2020), aft in the salon, two type A size II, type B:C size II (inspected 04/2020) forward in the galley, two type A size II, type B:C size II (inspected 04/2020) in the engine room, one type A size II, type B:C size II in the aft cabin passageway and one type A size II, type B:C size II (inspected 04/2020) in the forward cabin passageway. Fixed fire suppression system is a CO2 system inspected 04/2020. The safety components include: 50 adult type I PFDs, 5 child type I PFDs and two throwable PFDs; distress flares with current certification; two life rafts (currently removed for inspection/service); first aid kit; three 176 lb. Lewmar anchors and one 200 lb. navy type anchor with chain and line rode that appear good. Navigational and anchor lights appear satisfactory. Vessel has current navigation rules. Vessel has an oil placard, waste placard and a waste management plan. Other safety equipment includes Murphy alarm panel, numerous smoke alarms, ACR EPIRB SART (battery expiration 03/2022), ACR Pathfinder Pro EPIRB (battery expiration 2022, registration expiration 2023), EPIRB on light mast (battery expiration 04/2024, registration expiration 2023), MOB strobe on type IV, fire stations port and starboard amidships with hoses, escape hatch in aft cabin hallway, AED, damage control kit, five orange smoke canisters. |
| Summary: Good |
|
STORAGE |
| The vessel was inspected at its temporary storage location, it was hauled for maintenance. Boarding hazards appear insignificant. All entry points are reportedly kept locked. |
| Summary: Satisfactory |
|
ACCESSORIES |
| Furuno FA – 170 AIS, Furuno NX – 500 Navtex Receiver, Furuno FS – 2575C AIS vhf, Icom IC – M802 SSD, Kenwood NX720 HG two meter vhf, JRC NCM – 177 vhf with AIS, Iridium Pilot Captain Phone, dinette, two Samlex SEC – 1235M power supplies, Coleman Mach air conditioner, DC volt and ammeter, AC electrical distribution panel at the helm includes branch AC circuit breakers, DC electrical distribution panel at the helm includes main and branch DC circuit breakers, sliding windows, USB outlets, Furuno multi-function device with plotter, Furuno GP – 39 plotter, three Viewsonic monitors with radar / sounder (in one), radar (in one) and sounder (in one), three caterpillar electronic engine instruments, Furuno CH – 250 side scanning sonar, Ritchie compass, Furuno FCV – 1150 sounder with chirp transducer, Sea Post adjustable helm chair, Furuno Navnet radar, ComNav 211 Remote helm control, ComNav jogstick steering control, West Marine speakers, West Marine WM4000 stereo, SI – TEX SST – 110 seawater temperature gauge, ComNav 1001 auto pilot, Furuno wired remote controller for sonar, Furuno Navnet vx2 plotter / radar, ComNav Marine rudder angle indicator, Standard Horizon Quantum GX5000S vhf, Kenmore refrigerator, Aqualarm Last Watch II helm alarm, Fujinon binoculars, AIPhone LEM – 3 intercom, Xantrex TrueCharge 2 60 amp battery charger, Xantrex TrueCharge 2 40 amp battery charger, two ComNav jogstick steering controls and throttles forward of the helm on exterior, Ritchie compass, two ComNav Marine rudder angle indicators, pilothouse head includes sink, electric head and shower enclosure, crew cabin in pilothouse includes four bunk berths and Frigidaire air conditioner, captain’s cabin includes two bunk berths and Frigidaire air conditioner, Iridium Satellite antenna, Furuno AT – 1575 AES antenna coupler, Intellian dome, KVH TracPhone dome, two Furuno radar antenna, Icom AT – 140 automatic antenna tuner, six flood lights on superstructure, crow’s nest, two deep freezers on upper deck, seven aft deck floodlights, seven LED floodlights mounted below aft cap rails, bait tank, men’s head starboard aft in salon includes two urinals, head, shower enclosure, sink and vent fan, ladies head port aft in salon includes head, sink, shower enclosure and vent fan, head to port aft in salon includes head, sink, vent fan and shower enclosure, AC sub panel starboard aft in salon includes branch AC circuit breakers, 24 volt DC sub panel starboard aft in salon includes branch DC circuit breakers, cabin 3 and 4 include two bunk berths and a sink, salon includes five dinettes, soda fountain, Gemini systems industrial coffee maker with Curtis Gem 3 satellite server, Klipsch sound bar, Dish Network VIP 211k HDN receiver, Sony SMP – N100 network media player, Philips DVD player, Sony STR – DH750 multi-channel AV receiver and industrial ice maker, Cabin 2 includes two bunk berths and sink, clock with thermometer, Ozark trail cooler, Samsung TV, AC sub panel forward in salon (labeled galley) includes branch AC circuit breakers, galley includes two True TM – 24 standing refrigerators, industrial standing mixer, Waring toaster, LG microwave, two Vulcan convection ovens, Wells soup-wells, Wells B – 406 electric chargriller, Wells electric flat top grill, hood vents, Beverage-Air under counter refrigerator, Krowne BC48 – 55 slide top bottle cooler, triple sink with Insinkerator badger 500-1 garbage disposal and three industrial cutting boards, engine room lights, Lewco FS2440 ACD battery charger, Newmar PT – 24 – 45 U battery charger, oil placard, three Emerson Sentronic 3 refrigeration compressors, Twin Discharge MG 5202SC transmissions, main electrical distribution panel aft in engine room includes circuit breakers and two AC volt meters, two AC Hz meters, AC ammeter and DC millivolt and volt meter, four AC bait pumps, electronic engine controls, water maker, fuel centrifuge, internal sea strainers, 10 cabins aft (each cabin includes bunk berths and a sink), head in aft cabin hallway includes sink, vent fan and electric head, cabins 17 and 18 contain electric heads and sinks, two plastic waste holding tanks, forward cabins include bunk berths and sinks, cabins 7 and 8 include electric heads and sinks, plastic waste holding tank below forward head, fish holds, electric winch, boom with electric winch
|
|
SUMMARY |
| The vessel is an aluminum passenger sportfishing vessel equipped with three diesel engines and two diesel generators. The vessel was built by Bill Poole in 1975 in Chula Vista, CA. The current owner reported that the engines, generators, and transmissions are 4.5 years old. He reported that the vessel has been hauled for maintenance including: servicing the propeller shafts, propellers, replacing the teak cap rails, paint work and miscellaneous other maintenance. The Certificate of Inspection (COI) expires May 26, 2021 and the US Coast Guard was aboard prior to the survey to renew the certificate. The vessel has a COI for forty-one passengers, forty-seven persons total and in extended ocean zone 4. He reported that an ultrasound test was performed on the hull bottom for thickness last year. The vessel was inspected while hauled. The engines and generators were not test operated and no sea trial was performed. The vessel is basically structurally sound and upon completion of the recommendations should be suitable for its intended purpose as a passenger fishing vessel. |
| 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
| ACTUAL CASH VALUE | NEW REPLACEMENT VALUE | INVESTMENT |
| Removed for privacy |
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 vessel is an aluminum passenger fishing vessel with three engines. Comparable listings and sales are difficult to find as these types of vessels are usually privately traded. Value is primarily based on our data base and research. These type of vessels are often sold as a business and thus the value of the vessel is difficult to separate from the business value. We contacted several sportfishing companies in Southern California to ascertain value of similar vessels, this research support the value but provided no analytical support.
Tim Green, a fellow marine surveyor, reported that the Polaris Supreme recently sold for $1,500,000. The vessel is smaller in size than the Royal Polaris but is a Poole / Chafee make.
We surveyed Intrepid, a 112 ’ steel passenger fishing vessel in 2020 and placed a value of $2,700,000 on the vessel. Intrepid is a 2007 vintage vessel, thus holds a different value than an aluminum, fiberglass or fiberglass over plywood vessel. Intrepid has a COI for twenty-six passengers / thirty four persons in zone four and forty persons limited coastwise.
We surveyed American Angler, a 90 ’ Poole aluminum passenger fishing vessel in June of 2018 and placed a value of $1,800,000. The vessel is shorter and has one less engine. At the time of inspection, American Angler had a COI for thirty-five passengers in extended zone 4 / extended ocean that is set to expire 08 May 2022.
1994 Custom Blount Boat Yard
177′
$2,500,000
$16,485/monthPayment Calculator
Warren, RI
$
DETAILS
Year
1994
Make
Custom
Model
Blount Boat Yard
Class
Commercial
Length
177′
Fuel Type
Diesel
Location
Warren, RI
Hull Material
Steel
Hull Shape
Displacement
DESCRIPTION
1994 Custom Blount Boat Yard
Specialty passenger boat with 42 cabins , Lounge and dining hall. Full galley and good electronics. A perfect boat for river cruises and up and down the coasts or inland waterway. COI for 93 Total persons. With twin MANS she cruises at 10 kts and burns 55 gph. She has an air draft of 57 feet that allows her access to most waterways. A yacht waiting for a business.
10′ Party Boat – 13723
Used 110′ Aluminium Fishing, Dinner, Cruise Boat For Sale. 20 kts speed. Current USCG COI. 150 passenger,100miles. Vessel is Currently Fishing.Dereckt …
Price: $1,150,000.00
This survey is for the express purpose of insurance. It is not meant as a buyer’s survey.
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
- The extinguishers were inspected April 2020 and are due for inspection. Maintain the fire extinguishers per NFPA recommendations. The extinguishers should be inspected and tagged annually and inspected by a qualified technician or replaced every six years.
- Properly cover the exposed bulb port aft in the engine room.
- The life rafts have been removed from the vessel for service. Upon completion of the maintenance, reinstall them on the vessel.
- The man overboard strobe connected to the port life ring has liquid inside and it did not illuminate when tested. Service or replace the MOB strobe and prove it properly functional.
- The tie bar is disconnected from the starboard rudder assembly. Reconnect it upon completion of maintenance and prove the steering system properly functional.
- The cap rails have been removed and are being replaced. Complete the maintenance.
- The documents with the registration of the EPIRBs show that the registrations for the EPIRBs expired in 2018. The registrations on the EPIRBs themselves are current and expire in 2022, 2022, and 2024. Assure that the registration documents are proper.
- Reinstall the propellers upon completion of the maintenance.
- Replace the missing outlet covers aft in the salon.
|
SECONDARY |
|
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.
August 3, 2022
__________________________________ __________________
By: Mr. Kells Manthei, SAMS SA Date
August 3, 2022
________________________________ __________________
And by: Mr. Kells Christian, Surveyor Date
SAMS – AMS #301