1. Basic knowledge of ships
Ships are the main tools for water transportation and engineering operations, with many kinds and large numbers. With the development of maritime technology, the types of modern ships are more and more rich, there are a variety of classification methods, such as according to the hull material, there are wooden ships, steel ships, cement ships and so on; According to the navigation area, there are ocean ships, ocean ships, coastal ships and inland/lake boats; According to the power plant, there are internal combustion engine ship, electric ship and nuclear ship; According to the propeller, there are propeller ships, flat rotating propeller ships and sail aided ships; According to the mode of navigation, there are self-navigating ships and non-self-navigating ships; According to the state of navigation, there are drainage and non-drainage type ships. There are several common ship types:
General Cargo Ship (also called General Cargo Ship), a single - or multi-deck cargo ship, mainly for the transport of various types of dry cargo.
Oil Tanker: A ship built or converted to carry bulk oil primarily in its cargo space.
Bulk Carrier: refers to the cargo space usually has a single deck, top side and bottom side tanks, and is mainly used for the transport of dry bulk cargo, including such as ore carriers and part-time vessels.
Container Ship(Fully Cellular) : A ship carrying containers with a fixed grid-rail in the cargo hold, double bottom, double hull, torsion box on the top, large deck opening, or a double bottom, torsion box or other equivalent single hull side structure.
Refrigerated Cargo Ship: A ship with a cargo refrigeration device for the transport of fresh and perishable goods such as fish, meat, fruits and vegetables kept fresh at various temperatures.
Dredger: A vessel with dredging equipment that allows the mud to be loaded on board, transferred to other vessels, pumped ashore, or filled elsewhere.
The most encountered in the evaluation practice is mainly based on bulk carriers.
Ii. Applicability analysis of ship value assessment method
As a fixed asset, there are three evaluation methods to choose, namely, market method, income method and cost method.
The income method is a method to discount the net income that can be brought by the evaluated ship in the next few years, and then obtain the revenue value of the ship. Although in theory, assets with independent profitability can be evaluated using this method, in practice it is almost impossible to collect relevant income data. On the one hand, the financial data of shipping enterprises themselves may not be complete, and shipping enterprises often operate in the world, and income data and working capital are often private data that enterprises are reluctant to disclose, so the collection of basic data is often impossible.
Market method refers to the method that utilizes the recent transaction prices of the same or similar assets in the market to directly or indirectly compare and then obtain the value of the assets. It is based on the principle of substitution to find the same type of cases in the ship trading market that are similar to the indicators of the ships being evaluated according to various parameters such as the model and configuration of the ships being evaluated. Use the transaction cases found as a measure of the value of the ship being evaluated. However, in practice, due to the development of China's shipping industry is still in the initial stage, the ship trading cases themselves are relatively few, and the ship trading information is also less recorded on the public website, so it is difficult to find market trading cases similar to the ships being evaluated, and the application of market law is also subject to certain restrictions.
Cost method refers to the evaluation method that first estimates the replacement cost of the ship to be evaluated, and then estimates the existing derogatory factors of the ship to be evaluated, and deducts the value of the ship to be evaluated from its replacement cost. In popular terms, it is to estimate the full replacement price first, and then calculate the final evaluation price by combining the new rate. Since the market value of various raw materials used in the construction of ships is relatively easy to collect, the cost method is widely used in the valuation of ships.
Third, the application of cost method in the practice of ship value assessment
The replacement cost method is adopted to evaluate the value of the ship, and the full replacement price mainly includes six parts: material cost, equipment cost, labor cost, special production cost, period cost, profit and tax. Among them, material cost, equipment cost, labor cost and special production cost are direct costs, constituting the main part of the full replacement price of the ship.
Ship replacement full price = material cost + equipment cost + labor cost + special production cost + period cost + profit and tax
Assessed value of ship = full replacement price of ship × replacement rate
Case: The evaluated ship is a B-60 bulk carrier built and completed by ** Co., Ltd. on November 18, 2011, with a full load displacement of 82,274.50 tons, a no-load displacement of 11,497.85 tons, a reference cargo capacity of 69,385.00 tons, a gross tonnage of 38,861.00 tons, and a net tonnage of 21,762.00 tons. It has a total length of 221.63 meters (length of 216.16 meters), a width of 32.26 meters, a depth of 18.00 meters, an offshore sailing area, equipped with two lifting equipment, and a total power of 9,480.00 kW of main diesel engine. Its market value is estimated on April 6, 2020.
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