Physical inspection and valuation of Suezmax tanker

The client is a European auction house that appointed Drewry to undertake a physical inspection and valuation of an 8-year old Suezmax crude tanker that had been arrested at anchor for 2 years to facilitate its court-sanctioned sale. Drewry provided an independent report covering an evaluation of the vessel’s physical and operational condition, along with valuation of the vessel, and approximation of capital expenditure required to return it to sea-worthy state.