What Kind of Equipment is Covered in a Marine Vessel Appraisal? 

• Inland Barges: Though much of the midwest and west was settled because of river traffic, many people don't consider this type of transport anymore, despite its function to keep things moving that would otherwise be prohibitively expensive, such as aggregate, sand, grain, trash, oil, timber, metal ores or other bulky, heavy goods, providing a much-needed, inexpensive option to move these materials to market.
• Offshore Barges: Rivers aren't the only places that you'll see barges moving materials, though offshore barges tend to be larger and with more displacement than their smaller riverboat counterparts. Offshore barges are able to move a wide range of materials between points on the shoreline, without going further afield in many cases due to rougher weather and waterways that may be found further from the coast. At the same time, their smaller engines help provide a more economic option for moving bulk goods.
• Tugboats and Pushboats: Whether it's pulling barges off of sandbars or similar obstructions, getting large ships safely out to sea before their main engines are engaged, shuttling barges at a loading station or any number of other circumstances, tugboats and pushboats are powerful marine vessels that do a wonderful job of getting much larger ships underway, typically sticking closer to shore for the majority of the time to avoid choppier waters further out to sea.
• Hopper Barges: When large amounts of material must be moved, unpowered hopper barges are often chained together, creating a waterborne train of material. This provides the option to move large amounts of material without having to have numerous navigators or crews manning the different vessels, as one is simply pulled along behind the other. This allows a single crew to pull thousands of tons of material along a set course without a lot of extra manpower.
• Oilfield Support Vessels: Offshore oil platforms and drilling rigs need a wide range of materials, changes in crew, new parts for the rig and a number of other items that have to be exchanged at a dizzying rate. Food, medicine, protective equipment, pipeline, couplers, experts, oncoming and offboarding crew members and a wide range of other people and items are carried by oilfield support vessels, providing an inexpensive alternative to spendy helicopter rides for many petroleum companies.

By having a marine vessel appraisal performed on your equipment, you can gain valuable insights into its condition, expected useful lifespan and several other important pieces of information that will help you better manage your equipment assets. However, it's of vital importance that you have the appraisal performed by an accredited equipment appraiser, who will provide you with a properly calculated estimate of your marine assets' value.

When your business is on the water, knowing the value of your assets is a vital part of understanding your company's bottom line. But understanding the process of marine vessel valuation can seem like a much more complicated process. However, when you're working with an experienced certified equipment appraiser, the process is much more seamless. Here's a quick look into how the valuation of marine vessels works, whether you're looking at barges, ships, tow boats or any other type of marine vessel.

What exactly is involved in Marine Vessel Valuation?

A few decades ago, the value of a marine vessel was simple to determine - it was what you could get for it on the open market. But today's connected world has opened up new options, and with those options have come new ways to calculate the overall value of your marine vessels in a wide range of specific circumstances. This allows you a greater level of flexibility in determining what your marine vessel is worth based on your needs.

To start, a certified equipment appraiser will take a solid look at your marine vessel, in terms of the manufacturer, model and condition. If it is in good shape, it will be expected to last much longer than a similar vessel that has been abused or poorly maintained, and that superior condition is reflected in a higher overall value. The manufacturer's reputation and the performance and popularity of that specific model will also come into play, with better reputation, performance and popularity driving a higher overall value.

The next aspect of the vessel's value that will fall under consideration is the reason for valuing the equipment. If the vessel must be sold quickly to pay for other business debts, it's not unexpected that the vessel will sell for a lower value than if the vessel is sold to the right buyer at the right time or held onto while being used as collateral for a business loan. There are some circumstances where the vessel's value must be determined in a specific way, typically when it's being used as proof of value in a court of law.

The third aspect of determining the value of marine vessels is the market conditions. As an example, when trade is booming, cargo ships hold a much higher value than when the economy is poor and the vessels are not as strongly in demand for trade. However, just because trade is poor in one part of the world where you typically do business doesn't mean that you need to settle for a low price. A good equipment appraiser will take these factors into account and determine if there are other areas where your marine vessels would command a higher value, allowing you to capitalize on good trade in other areas.

By having a better understanding of how marine vessel valuation works, you'll have a better idea of what to expect when you're ready to have your marine vessel assets appraised. This allows you to ensure that your business books are accurate and up to date, so that you can leverage the value of those assets to grow your business into a promising new future. However, make sure that you're working with a certified equipment appraiser to ensure that the figures and calculations are accurate and can hold up well in a wide range of situations well into the future.