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IDWAL NEWS

Control the process, maximise the potential of your vessel.

by Paul Howe
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Selling a vessel has historically meant putting your vessel on the market and waiting for numerous potential buyers to send their own inspectors. The waiting game can seem endless, from waiting for a potential buyer to request an inspection, to arranging a suitable location, and then waiting for the buyer to receive the inspection results.

Ultimately, the seller loses control of the inspection process and can also invest a significant amount of time and resources both onboard and ashore, in simply supporting the multiple inspectors, each of whom have different requests for information and place different demands on the sellers.

In the end, sellers have to simply wait and hope that the buyers’ make a fair and reasonable judgement on the condition of their vessel and that the efforts spent in coordinating the multiple inspections, result in a firm and attractive offer.

With the current COVID-19 pandemic, owners are quite rightly warier about allowing inspectors onboard, particularly multiple inspectors at one time.

In response to these challenges, Idwal has been working with leading shipowners from around the world to create a service that not only reduces the amount of physical contact onboard and minimises the risk of COVID-19 infection, but also removes a large part of the time and administrative burden which is normally seen when placing a vessel on the market.

 

PUTTING SELLERS BACK IN CONTROL OF THE PROCESS

Controlling the inspection process has several benefits, but not least the fact that it allows you to remain in control of the re-marketing process and ensure that the vessels are presented to the market with absolute consistency and in the best possible light, from a leading independent inspection company. As well as minimising the administrative burden placed on you by multiple buyers (often wasting time).

 

REBATE AGAINST THE INITIAL COSTS

A Pre Sale Inspection also allows the unique offering of an attractive rebate against the initial cost of the vessel inspection. Upon written request to Sellers, potentially interested acquirers of the vessels can request access to the reports and data from Idwal for an agreed fee with the report sales to potential Buyers of the vessels being split equally between the Sellers and Idwal. 

 

PreSaleInspection_Process-1

 

BENEFITS

  • Sellers remain in complete control of the selling process, ensuring only engagement with serious, interested parties.
  • Cost-effective solution with a rebate back to Sellers based on reports sold in the market.
  • A single inspection company liaising with owners, making the process smooth and cooperative.
  • Idwal can immediately distribute reports to potential buyers with a single digital delivery, giving Sellers a competitive market advantage.
  • Idwal handles all admin and logistics in respect of the vessel inspection, allowing Sellers to take a “hands-off” approach to coordination. Enabling you to focus on the important transactional elements.
  • Idwal is a trusted, independent source of inspections and market data. Many interested parties will value the Idwal report and will be happy to rely on our reports for acquisition purposes.

LNG Tanker

 

TRUSTED BY THE BEST

Idwal are proud to be working with the biggest names in shipping.

We recently had the pleasure of partnering with MOL Group on the sale of a Tanker using the Pre-Sale Inspection service, resulting in a confirmed sale at attractive market pricing.

See what MOL has to say about Idwal:

“As one of the largest shipping companies in the world, MOL has used the services of Idwal to conduct pre-purchase inspections of vessels which are marketed for sale. Idwal is a reliable and trustworthy company that is in line with MOL’s attitude to be open and fair to the market.”

MOL GROUP

Tanker

 

FIND OUT MORE

If you'd like to find out more about Pre Sale Inspections, simply contact us by following the link below and a member of the Idwal team will be in touch.

CONTACT THE IDWAL TEAM

 

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