By Frank Andersen, Partnerships Manager, Idwal
For Greece’s maritime community, trusted vessel information has always been a source of strength. In an environment of tightening risk models, growing ESG expectations, and a more demanding regulatory lens, the ability to understand a ship’s true technical condition is becoming central to how insurers, financiers and owners make decisions with confidence.
At Idwal, we’ve witnessed this evolution first-hand. Each year our global network of marine surveyors undertakes tens of thousands of inspections across all vessel types, from sale & purchase and condition surveys to financier, insurer and pre-vetting assessments.
Every inspection follows the same structured digital framework, recording more than 500 data points. This consistency produces an objective view of condition, expressed through our recognised vessel-assessment metric, the Idwal Grade®.
The Idwal Grade distils complex technical findings into a single, evidence-based score derived from 21 sub-grades spanning hull, machinery, management and safety. Having applied the same methodology across more than 15,000 inspections, it has become a widely understood language for vessel condition, used by owners, financiers, insurers and charterers to support more transparent dialogue and decision-making.
Alongside these physical inspections, Idwal’s analytical team uses statistical modelling to provide indicative insights across the wider fleet. Drawing on patterns within our inspection archive, we can estimate condition trends for vessels that have not been recently inspected. These estimates are not replacements for onboard assessments; rather, they offer a broad, data-driven perspective on global fleet health that complements other industry information sources.
This approach supports a more rounded understanding of asset performance, helping the industry identify where additional inspection or maintenance focus may be valuable. It also promotes efficiency: by prioritising attention on the ships that appear most in need of review, operators and lenders can allocate resources where they will have the greatest impact.
Across international insurance and finance circles there is growing recognition that objective, standardised data can strengthen existing processes. Verified inspection information can supplement the frameworks already used by underwriters and banks, adding an extra layer of assurance when reviewing vessels, portfolios or transactions.
The practical outcome is improved dialogue. When all parties reference the same consistent information, discussions about renewal, refinancing or chartering become quicker and less subjective. For technical managers, it can help demonstrate the value of investment in maintenance; for risk professionals, it provides additional confidence that the data supporting their decisions is robust and comparable.
Traditional sources such as Class and Port State Control remain fundamental, but they naturally vary in scope and frequency. PSC inspections focus on compliance at a moment in time, while Class reports follow technical standards that can differ across the range. Independent inspection data complements, rather than replaces, these vital systems.
Because Idwal applies a uniform inspection process worldwide, our data introduces a comparable benchmark that can sit alongside other records to provide context and continuity. The goal is not to grade owners against one another but to help the wider market understand condition more consistently, creating a common language that benefits owners, financiers and insurers alike. In a sector that depends on trust and precision, that shared context is often as valuable as the data itself.
The latest global annual IUMI report highlights how underwriters face greater complexity: ageing fleets, geopolitical disruption, and cost pressures that make pricing accuracy ever more important. In such an environment, access to consistent, objective condition information is essential to maintain confidence and discipline across the risk chain.
It also contributes to sustainability goals. A more data-driven understanding of condition allows better planning of maintenance, refits and end-of-life strategies, helping the industry manage resources efficiently while reducing unnecessary environmental impact. Good data supports better decisions: technical, financial and environmental alike.
As the maritime sector becomes more data-connected, tools like the Idwal Grade® are evolving into shared benchmarks, linking inspection intelligence, regulatory insight and financial decision-making. This integration doesn’t replace professional judgement; it enhances it, giving experts across the value chain a reliable foundation on which to apply their experience.
In today’s market, precision is not about scrutiny; it’s about confidence. Independent inspection data provides that confidence, helping every stakeholder, from owner to underwriter, to navigate risk with greater clarity and trust.