Explaining our pre-purchase surveys

When carrying out work at sea, and dealing with large scale undertakings such as excavation and drilling, making use of up to date technology and equipment is vital. However, it is sometimes difficult to know where best to invest and what new additio...
Published 17th July 2017
Published in Expertise:

When carrying out work at sea, and dealing with large scale undertakings such as excavation and drilling, making use of up to date technology and equipment is vital. However, it is sometimes difficult to know where best to invest and what new additions will prove to the most effective assets to your company.

One of LOC Group’s areas of expertise is in carrying out extensive surveys, inspections and audits of both vessels and operations to support our clients in making these important decisions. These initial stages of research can be of paramount importance when looking to invest in new equipment as cost and safety is a large determining factor.

We can carry out risk assessments which are tailored to our client’s individual needs and we can work on many different scales of project- covering single vessels to whole fleets. These surveys will always be in adherence to industry standards, such as the Marine Safety Forum and the Offshore Vessel Inspection Database.

Our pre-purchase surveys aim to explore any potential problems that may arise, and also help to make the client aware of any increase in expenditure that could happen in the future. When inspecting new vessels, we address issues such as the cost of likely modifications that will need to be made, in order to adhere to regulations, as well as standard expenditure, like dry docking etc. We are also able to analyse other existing data about any considered vessels, such as maintenance records and so try to foresee any rise in the costs of upkeep. This data will enable the client to clearly see how much these new vessels are likely to cost in the long term, consequently allowing them to work out if they will be a good investment for the future.

It is at this point that we can assess the competitiveness of the potential asset in comparison to similar vessels in operation, which helps the client to have a more informed choice about what they are buying.

With regards to taking on a whole fleet, we are also in a position where we can assess data about the way in which the existing fleet has been managed and look into the current procedures they have in place relating to safety management and record keeping. Again, this allows for the cost of changes and restructuring to be looked at before making any final commitments.

Additional information such as charter contracts and lease agreements can also be explored as well as detailed insurance information.

Our pre-purchasing surveys are intended to provide the client with a clear picture on what they are buying, how efficient and cost effective it will be and of any potential issues that could arise.

We have an international network of offices and specialised staff; thus, we are able to operate all across the world and have worked with a large variety of clients on a broad spectrum of projects.

More detailed information about what our surveys entail can be found here.