At the highest level, our data enables us to identify trends in the condition of specific ship types and segments. All the data is anonymised, with each blue dot representing a ship that we’ve inspected and graded. Along the horizontal axis, you can see the ship’s age, and on the vertical axis, the grade. The dashed line shows the average condition rating for various segments: dry cargo, tanker, container, and general cargo.
Unsurprisingly, condition degrades over time, but the key takeaway here is that we have a clear, justifiable benchmark for when that degradation occurs. This is particularly relevant when discussing aging fleets, less supply entering the market, and the importance of maintaining older fleets to ensure compliance. But what does that mean for brokers, buyers, and sellers? Let us tell you about a tale of two vessels.
“AM NOMIKOS TMA SA uses Idwal for conducting condition surveys of its managed fleet vessels as a result of COVID, and pre-purchase inspections of vessels worldwide. Their service has been professional and of a high technical standard. They are cost effective, respond promptly and their flexibility and constant monitoring have gained our trust for continuing our cooperation.”
“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 always provides fair and independent inspection reports to MOL’s vessels in line with MOL’s attitude to be open and fair to the market.”
