The passenger and cruise market is a growth market which has expanded in excess of 20% over the last 5 years. The large passenger cruise market is dominated by a handful of operators who own and operate over 300 of the worlds largest cruise ships. In addition to this market sector there are many smaller Ferrys, RoRo's, Ro-Pax and other forms of passenger vessels which are owned and operated globally.
The ferry and passenger industry, like the marine industry in general, is heavily regulated in terms of safety, environmental impact and security. Ferry's, much like the other segments of the global maritime industry are manned by an increasingly smaller number of crew and are managed, operated, chartered and financed in a similar manner to the merchant maritime sector - whilst enduring similar regulatory pressures and focus towards sustainability, environmental compliance, carbon-emissions reductions and security.
Assets in this sector are complex and extremely hard-working with lots of intricate systems covering large and critical areas such as waste handling, sanitation and air conditioning, in addition to the normal engineering challenges of operating a ship. Carrying passengers means there is an increased risk in all areas of safety and lifesaving and the regulatory demands on passenger vessels are very high.
The assessment of passenger vessels therefore has to be very carefully undertaken, using only surveyors who fully understand and appreciate the complexity of the vessels and its cargo, supported with the right framework to ensure a robust and accurate inspection.
Idwal has delivered its services to the passenger and ferry sector on behalf of a number of major financial institutions and on behalf of a number of buyers of both new and existing passenger ships and ferries for many years. As always using our bespoke inspection framework to deliver a full and thorough inspection along with our unique Idwal Grade.
Our passenger and ferry inspection services are delivered globally using our 250-strong network of surveyors.
Leading brokers, shipowners, banks and financiers use our Pre-purchase inspection services to fully understand the condition of their intended acquisitions, on a global scale.
Leading banks, funds, lessors and financiers use our global condition inspection services in order to fully understand the condition of their assets.
Idwal works with a number of the International Group P&I Clubs, to deliver quality, comprehensive and objective P&I surveys to the international P&I Market on a global scale.
If a physical inspection is not an option, then our Remote Asset Review reports, which are universally accepted across the industry, can help you make those critical decisions without the need to set foot on a vessel.
The single biggest expenditure for any owner, investor or financier after buying a vessel is the cost of dry-docking. Idwal provides a comprehensive dry dock management service which has been proven to save our clients time and money.
With access to a huge amount of vessel condition grade data, gathered over many years by our unique digital inspection framework, we offer our clients unique bench-marking tools, analytics and reports which are not available anywhere else in the market.