VesselsValue Introduces Next Generation Of Automated Vessel Valuations With Idwal Marine
Automayed Condition Adjusted Valued (CAV) has been launched by VesselsValue in collaboration with Idwal Marine.
The actual condition of the vessel is combined with the market value that is derived algorithmically by CAV to know about the physical value of the vessel.
Tom Evans, Director of VesselsValue explains that “CAV will assist stakeholders to get value for the additional time, effort and expense of maintaining quality fleets; an effort that we see rewarded in transactions but not in valuations currently.”
The unique vessel grading information from Idwal is fed into the algorithms of VesselsValue to get daily automated Condition Adjusted Values.
Using the VV platform, the old inspection reports can also be directly requested. In case, the owner does not grant permission or recent inspection reports are not available, the users can get new inspection report through the platform.
Assumptions are needed in every asset valuation method. Generally, desktop valuations assume that a vessel is in a fair state with all proper Class, Flag and certificate needs in place. The new value helps users to get better granularity and does not assume that all vessels are in a fair condition.
Idwal Managing Director Nick Owens said “We’re thrilled to enter a partnership with VesselsValue to bring Condition Adjusted Values to the industry. Through the combination of Idwal’s latest grading data, users now have greater visibility into a ship’s true value. This is just one of the ways Idwal is bringing inspection data back to the industry to help it make smarter decisions.”
Reference: VesselsValue
