The Idwal Grade provides a condition assessment rating of any vessel, depicted as a numerical representation between 1-100. The purpose of the grade is to provide a single, accurate and objective "snapshot" of a vessels condition at a glance.
The Grade algorithm has been developed over time and is regularly reviewed, calibrated and updated to take into consideration the very latest in changing industry regulations and to ensure utmost accuracy in line with prevalent market conditions.
A reliable numerical condition assessment grade is essential to ensure the results of a ship condition assessment can be interpreted by all levels of customer competencies, from the boardroom right through to operational and functional staff.
Our research indicates that over 70% of customers who request a condition inspection are not qualified in detailed maritime operational or technical matters and are therefore highly reliant on the knowledge and skills of Idwal to help them understand the condition-based risks of their fleet.
The Idwal Grade is the result of a complex set of algorithms which interpret, analyse and categorise a vast amount of data captured throughout the inspection process, ultimately displaying a single numerical representation of a ships' condition.
Our Surveyors work within a rigid inspection framework which gathers over 500 different data points during the inspection which are then analysed through our advanced algorithms to generate the grade results. The algorithms feed the data into 21 sub-grades, culminating in a single final Grade, which quickly identifies and easily highlights areas that are exceeding expectation, or require improvement.
View our methodology page for more detail on how the Grade is calculated.
Every vessel inspected by Idwal is provided with the Idwal Grade. Most of our customers now rely heavily on the Grade results and many are now actively subscribing to our bench-marking and vessel comparison analysis services. Typically our clients from sectors such as banks, financial institutions, leasing companies, private equity funds, ship owners and S&P brokers, rely on the Grade the most as this helps them make better, more informed decisions related to their maritime exposure.
The Grade is completely impartial and generated automatically without any other influences. Allowing easy comparisons to be made between both your entire ship portfolio and ships of the same age, ship type, location of build, etc.
“The Idwal grade is the industry’s only consistent source of standardised ship-condition data available and is becoming the industry benchmark for banks, financial institutions, private equity groups, ship owners, brokers, insurers and charterers.”
Ship Management International - 2019
Using our unique data set and inspection framework, we offer clients a bespoke benchmark report which provides a graphical comparison of the how an inspected vessel(s) compare to others inspected in its peer group. Our data can be analysed by ship type, age, design, yard, county of build and other factors, offering unrivalled insights into the condition of your ship, compared with the wider market.
Working closely with industry valuation experts, the Idwal Grade data can be fed into valuation models to provide the industry's only reliable condition-based-valuation adjustment. Our valuation partners' Vesselsvalue.com have robustly tested, calibrated and analysed the Idwal Grade to ensure total accuracy and compatibility, with condition adjusted valuations (CAV) now available from both Idwal and Vesselsvalue subscribers.
We never re-sell reports or release data without the prior written consent of our customers. We do however harness and collect data from the ship inspection process so that comparisons and benchmarking insights can be provided back to our customers in order to benefit their business, by providing them with greater clarity in respect of how their ships compare with the wider market. Your data is always treated confidentially and kept secure.
As we gather data on thousands of vessels each year, Idwal is uniquely positioned to compare the performance of the worlds ship management companies using real data, gathered from the physical inspection process. With any inspection our customers can ask us for a comparison report which will show precisely how the management of the inspected vessel compares against all other ship managers in the global market. This unique offering uses our own proprietary data, which is not available elsewhere in the market.