What is a Vessel Pre-Purchase Inspection?

A pre-purchase inspection is an extensive, intense process that could take up to a few days and it is a thorough inspection of the vessel’s structural and watertight integrity, installed machinery and equipment, operating condition, as well as an assessment of its condition.

What is a Vessel Pre-Purchase Inspection?
What is a Vessel Pre-Purchase Inspection?

After the inspection is done, a comprehensive and detailed report is produced. The report should provide an accurate image of the vessel’s condition and highlights areas of concern that would require future capital expenditure.

The pre-purchase survey offers a detailed independent assessment of the condition of an asset ahead of purchase, with detailed breakdown of any defects or areas for concern.

Buyers can utilize their pre-purchase inspection reports to decide whether or not to proceed with the deal. Before the transaction is executed, they can also use it to negotiate for specific repairs or price adjustments with the seller. The report gives a clear and realistic assessment of the ship.

A typical report structure will cover the following aspects of the ship:

  • Bridge and Navigation Equipment

  • Hull, fittings, Anchor and Mooring System

  • Accommodation, Living Spaces, Galley and Common Areas

  • Cargo Tanks/Holds

  • Ballast tanks and Void Spaces

  • Lifting Appliances

  • Engine Room: Main Engine, Auxiliary Engines, Pumps, Electrical Systems, Boilers

  • Life saving and Fire Fighting equipment

  • Survey, Certificates and Maintenance Records

The report should be accompanied with corresponding photos that supports its findings.