C & V SURVEY
Condition & Valuation
| Client: Removed for privacy | Date of report: June 4, 2021 |
| Current owner: Removed for privacy | Our file #: 21 – 20061web |
| Location: Progresso Shipyard
Ensenada, Mexico |
Date of inspection: April 30, 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 | Doc. #: Removed for privacy |
| Model/type: Commercial fishing / surface
trolling for albacore |
Engine/MFG: One Cummins KTA1150 |
| Year: 1979 | H.P. per: 425 (reported) |
| Length: 87’ | Serial numbers: Not visible |
| Draft: 7 – 9’ | |
| Beam: 24’ | Type of instal. : Diesel, six cylinders, keel |
| Name: Removed for privacy | cooled, dry exhaust |
| HIN: Removed for privacy | Generator: 38 Kw Northern lights 40 Kw Isuzu / SERHailing port: San Diego, CA |
|
HULL & STRUCTURE |
| The vessel was inspected while hauled. 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’s weight is unknown. Exterior rails and hardware appear satisfactory. Fishing mast, mast step, standing rigging and chain plates, where visible, appear satisfactory – marginal. Cosmetic condition of vessel appears satisfactory externally and satisfactory internally. Vessel’s external colors are blue. Below waterline through hull fittings appear satisfactory (but valves are seized). The vessel is equipped with one portable AC submersible and two AC electric bilge pumps that appear satisfactory and the bilge is holding water and oil in engine room. The engine room ventilation system consists of a fan and natural ventilation and appears satisfactory. General housekeeping appears satisfactory. |
| Summary: Satisfactory |
|
MACHINE SYSTEMS |
| Engine’s external surfaces appear satisfactory and exhibit no significant rust, oil or coolant leaks. There is no engine hour meter. Motor mounts appear satisfactory. Cooling system appears satisfactory. Fuel system and components appear satisfactory. Exhaust system and components appear satisfactory. 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 appear satisfactory. Generators 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. |
| Summary: Satisfactory |
|
FUEL SYSTEM |
| There is 9,000 gallon capacity in two steel tanks located one per side in engine room. 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 are located on tanks and appear satisfactory. |
| Summary: Satisfactory |
|
ELECTRICAL SYSTEMS |
| The AC shore cord and connections appear satisfactory. The AC wiring and outlets appears satisfactory. The AC main feeds are protected with circuit breakers. Battery arrangement appears satisfactory. Batteries are equipped with a disconnect switches. DC wiring appears satisfactory. Circuit protection for the AC and DC branch system appears satisfactory. Wire terminations and connections appear satisfactory – marginal. Wire organization and arrangement appears marginal. |
| Summary: Marginal – Satisfactory |
|
SAFETY AND LIFE SAVING |
| Vessel has six type A size II type B:C size I portable fire extinguishers with April 2021 tag dates. Vessel has no fixed fire suppression system. The vessel includes no CO alarms. The safety components include: PFDs and two life rings with retrieval lines (throwable): distress flares with current certification were reported but not inspected; 4 person Survitec MK IV life raft with current certification 02/2022; one Navy type anchor with line rode that appears satisfactory. Navigational and anchor lights appear satisfactory (not tested). Vessel has current navigation rules. Vessel has oil and waste placards and a waste management plan. Other safety equipment includes an EPIRB with 03/2024 battery expiration, four immersion suits (4 years old). |
| Summary: Satisfactory – Good |
|
DOCKING |
| The vessel was not inspected at its normal slip location. |
| Summary: N/A |
|
ACCESSORIES |
| Outriggers and steel pipe structure, freezer, forward and aft floodlights, bow bit, alarm panel, Furuno FCV – 295 sounder, emergency pilothouse battery, Sitex SST – 110 sea water temperature, binoculars, Seatex compass, ComNav Marine rudder angle indicator, ComNav 1001 autopilot controls a Wood Freeman system, pilothouse engine instruments include tachometer, water temperature, oil pressure and drive oil, Furuno FR 7252 radar, Wesmar SS390 – E scanning sonar controller with video monitor, JRC radar 1800, Furuno GPS navigation, Icom MA500 – 7R class B AIS, satellite phone, Lenovo laptop with Rose Point navigation and weather point, Icom IC – 700 PRO 55B with antenna tuner, Icom IC – M402S vhf, Sylvania VCR, dinette, galley freezer, sink, microwave and Kenmore refrigerator, Galaxy four burner electric range, Icom IC – M330 vhf, Furuno FCV – 581 color video sounder, portable water pump, oil placard, trach placard, Kenmore clothes washer and dryer, two landing tables, two hydraulic pullers, condenser pump, deck hose, Lewco 3240 – ACD – 2 and 32 – 04 battery chargers, distribution panel to starboard forward in engine room, AC volt meter, AC and DC ammeter, Hz meter, Xantrex 10 amp battery charger, metal holding tank, engine room generator instrumentation includes temperature, oil psi, hours and volts separate AC volt meter, ammeter and Hz (not in use), two Carrier 5 F40 compressors (and spare), fresh water pressure pump with accumulator tank, Rheem water heater, 6,000 gallon water tank forward |
|
SUMMARY |
| The vessel was built in Bayou La Batre, Alabama originally as a shrimp boat. The client purchased the vessel in 2009 and believes that the engine is approximately 20 years old. The engine has had various service including the head serviced and one cylinder liner kit replaced in August of 2020. Another cylinder liner kit was replaced. The Isuzu generator came with the boat at the time of his purchase and he installed the Mitsubishi generator 4 – 5 years ago. The vessel is currently used for albacore fishing on lines, using out riggers and hydraulic pullers. The client stated that the vessel originally had a fuel tank aft, it had been converted to ballast before he purchased the vessel. This tank has deficiencies which are going to be addressed during this yard period. He intends to repair and reframe the tank, re-plate the bottom and install baffles. He also intends to repair spots of corrosion on the steel pipe rigging structure above the deck, perform an ultrasound inspection on the hull bottom and paint the bottom while the vessel is hauled. The vessel was inspected while hauled. None of the machine systems were tested and no sea trial was performed. Various electrical components were tested. The vessel exhibits normal signs of age and maintenance for a vessel of this vintage and material. There are many doublers on the hull bottom. There are areas of rust and corrosion accumulated internally. The client is well acquainted with the vessel and its systems and fishes the vessel actively. The external surfaces and peripheral components of the machine systems are good. The vessel appears suited for its intended purpose as a commercial 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 value is based on the reported sale price from soldboats.com and the listing prices from various websites. We also researched our prior survey from April 2018, and the values on that survey. The value of this type of vessel is often dependent on the catch, fishery and economy but we value the vessel as possible without consideration of the value of the business. The location and condition of the vessel are considered.
77 ft 1978 Commercial Fishing Boat for Crab and Cod, Katherine
US$390,000
Kodiak, Alaska, United States
View 21 Photos
Listing Information
Previous Price:
US$500,000 (October 25, 2019)
Listing Type:
Central/Exclusive
Co-op Type:
Available for co-brokerage
YW#:
2794041
Brokerage:
Pacific Boat Brokers Inc.
Contact:
our Head Office – Toll Free
Office Phone:
Click to Reveal
Mobile Phone:
Click to Reveal
Active:
1842 Days
Listed Date:
December 4, 2014
Sold Date:
December 20, 2019
Listed Price:
US$450,000
Sold Price:
US$390,000
Price Source:
Self-Reported
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This survey is for the express purpose of insurance and/or financing. 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
- Service and prove the anchor light properly functional or provide a temporary replacement. The client stated that he does not anchor.
- Ready the anchor and rode for emergency deployment, it is not currently ready to be deployed. If the vessel is to be anchored a secondary anchor and rode should be brought aboard for use in emergency situations.
- There are wire nuts used in various locations for electrical connections including near the base of the main support for the rigging and in the pilothouse. Utilize butt connectors or terminal boards. Comply with ABYC recommendations.
- Replace wing nuts used on battery terminals with steel nuts and lock washers. Comply with ABYC recommendations.
- Assure that the cables attached to batteries are of suitable size, some appeared to be questionable.
- Service and prove the smoke alarms properly functional, we encourage the installation of interconnected smoke alarms.
- The ladder into the lazarette is badly corroded and the ladder to the top of the superstructure has corrosion, the client stated it is his intention to address these in the near future. Service and prove these ladders suitable and safe for continued use.
- Adjust the loose chain for the autopilot drive.
- Lubricate the small steering chain in the lazarette.
- Service and prove the two through hull valves forward in the engine room functional, they were stiff and were not moved.
- One terminal on the battery to port in the engine room has melted metal, the client stated that this was caused from a loose connection. Clean up and assure the connection is proper or replace the battery.
- A battery terminal to port forward in the engine room had a loose connection. Properly secure this connection.
- Provide and install a face plate on the electrical outlet forward on the engine room bulkhead. Assure that all electrical connection boxes are covered, including one below the pilothouse console.
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SECONDARY |
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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.
By: Mr. Kells Christian, Surveyor SAMS – AMS #301