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Appendix.
Methodological manual guidelines for value estimation of different classes of the marine commercial vessels (fishery and cargo)
Practical training in the field of the economical expertise of assetsusually involves solving universal fragmentary tasks of evaluation, for example, the calculation of present values of cash flows or the calculation of other discount financial functions.
Practical training in the sphere of value estimation of the marine commercial vessels have an integral structure and based on the study of sequences of steps of standard approaches application to vessel value estimation with account of professional specific of this type of the economic expertise.
The manual for practical tasks contain the tabular forms for calculations to be filled. To carry out tasks one should copy the manual in order to fill in the forms when doing calculations on the copies.
The data are processed in the tabular form (tab. A1).
Table A1
The index name |
The symbol, unit of measure |
Data |
|
Data of the fishing vessel |
|||
Total cargo displacement |
D |
tonne |
|
Cargo capacity |
PG |
tonne |
|
Fuel stock onboard (specification) |
PFL |
tonne |
|
Volume of refrigerator hold |
W |
cubic meter |
|
Operational speed |
υS |
knot |
|
Crew, including the fish processing personnel |
nCR |
man |
|
Average annual expenses one member of crew charge (for the practical work it is set by the instructor) |
cCR |
thousand dollar US a year |
|
Year of manufacture |
- |
year |
|
The remained term before the expiration of the Certificate of seaworthiness |
- |
year |
|
Daily productivity of the processed fish output at the sea |
- |
tonne / day |
|
Distance to the ocean fishing ground |
£ |
nautical mile |
|
The duration of inter-voyage mooring in harbor |
tAR |
day |
|
Price of processed fish product (for the condition of transfer of the catch to the harbor) |
m |
thousand US dollars / tonne |
|
Cost of the consumed fuel for fishing vessel |
thousand US dollars / tonne |
||
Discounting rate |
i |
% |
|
Data of the cargo vessel |
|||
Total cargo displacement |
D |
tonne |
|
Cargo capacity |
PG |
tonne |
|
Operational speed |
υS |
knot |
|
Crew |
nCR |
man |
|
Year of manufacture |
– |
year |
|
The remained term before the expiration of the Certificate of seaworthiness |
– |
year |
|
Distance to destination from the home harbor |
£1 |
nautical mile |
|
Distance to destination from the foreign port of departure |
£2 |
nautical mile |
|
General mileage of the marine route from the home harbor to the ocean fishing ground, from district to foreign ports, from foreign ports to the home harbor (for practical training it is recommended to accept the mileage more than £1+£2 ) |
∑£ |
nautical mile |
|
Daily productivity of cargo operations in the point of destination |
qG1 |
tonne / day |
|
Daily productivity of cargo operations in the port of departure |
qG2 |
tonne / day |
|
Daily bare boat charter rate |
|
US dollar / day |
|
Cost of the consumed fuel for the cargo vessel (it is set by the instructor) |
thousand US dollars / tonne |
||
Operating factor of cargo vessel capacity use |
ηG2 |
|
|
Tariff rate of transportation of cargoes |
m |
thousand US dollars / tonne |
|
Tariff rate of transportation of cargoes |
m1 |
thousand US dollars / tonne |
|
Tariff rate on transportation of cargoes |
m2 |
thousand US dollars / tonne |
The recommended initial data are presented in tab. A2 and A3.
Table A2
Recommended initial data for the practical work on fishing vessel evaluation
Total cargo displacement D, tonne |
Cargo capacity PG, tonne |
Stock of fuel specification ÐFL, tonne |
Volume of the refrigerator’s holds W, cubic meter |
Operational speed υS, knots |
Crew, including the fish processing personnel nCR, man |
Year of manufacture |
Remained term before the expiration of the Certificate of seaworthiness, year |
Daily productivity of the processed fish output reception at the sea, tonne / day |
Distance to the ocean fishing ground £, nautical mile |
Price of processed fish product m as the transfer to harbor, thousand US dollars / tonne |
Discounting rate i, % |
500 |
100 |
50 |
215 |
9.5 |
15 |
1987 |
5 |
10 |
450 |
0.7 |
25 |
600 |
136 |
68 |
293 |
9.7 |
18 |
1988 |
4 |
14 |
500 |
0.73 |
24 |
700 |
160 |
80 |
343 |
9.9 |
21 |
1989 |
3 |
18 |
550 |
0.76 |
23 |
800 |
183 |
91 |
393 |
10.1 |
24 |
1990 |
2 |
22 |
600 |
0.79 |
22 |
900 |
206 |
103 |
443 |
10.3 |
27 |
1991 |
1 |
26 |
650 |
0.82 |
21 |
1000 |
230 |
115 |
494 |
10.5 |
30 |
1992 |
5 |
30 |
700 |
0.85 |
20 |
1100 |
253 |
127 |
544 |
10.7 |
33 |
1993 |
4 |
34 |
750 |
0.88 |
19 |
1200 |
277 |
138 |
595 |
10.9 |
36 |
1994 |
3 |
38 |
800 |
0.91 |
18 |
1300 |
300 |
150 |
645 |
11.1 |
39 |
1995 |
2 |
42 |
850 |
0.94 |
17 |
1400 |
324 |
162 |
696 |
11.3 |
42 |
1996 |
1 |
46 |
900 |
0.97 |
25 |
1500 |
347 |
174 |
747 |
11.5 |
45 |
1997 |
5 |
50 |
950 |
1 |
24 |
1600 |
371 |
185 |
797 |
11.7 |
48 |
1998 |
4 |
54 |
1000 |
1.03 |
23 |
1700 |
395 |
197 |
848 |
11.9 |
51 |
1999 |
3 |
58 |
1050 |
1.06 |
22 |
1800 |
418 |
209 |
899 |
12.1 |
54 |
2000 |
2 |
62 |
1100 |
1.09 |
21 |
1900 |
442 |
221 |
950 |
12.3 |
57 |
2001 |
1 |
66 |
1150 |
1.12 |
20 |
2000 |
466 |
233 |
1001 |
12.5 |
60 |
2002 |
5 |
70 |
1200 |
1.15 |
19 |
2100 |
489 |
245 |
1052 |
12.7 |
63 |
2003 |
4 |
74 |
1250 |
1.18 |
18 |
2200 |
513 |
257 |
1103 |
12.9 |
66 |
2004 |
3 |
78 |
1300 |
1.21 |
17 |
2300 |
537 |
269 |
1155 |
13.1 |
69 |
1986 |
2 |
82 |
1350 |
1.24 |
25 |
2400 |
561 |
280 |
1206 |
13.3 |
72 |
1987 |
1 |
86 |
1400 |
1.27 |
24 |
2500 |
585 |
292 |
1257 |
13.5 |
75 |
1988 |
5 |
90 |
1450 |
1.3 |
23 |
2600 |
609 |
304 |
1308 |
13.7 |
78 |
1989 |
4 |
94 |
1500 |
1.33 |
22 |
2700 |
632 |
316 |
1360 |
13.9 |
81 |
1990 |
3 |
98 |
1550 |
1.36 |
21 |
Table A3
Recommended initial data for the practical work on cargo vessel evaluation
Total cargo displacement D, tonne |
Cargo capacity PG, tonne |
Operational speed υS, knot |
Crew nCR, man |
Year of manufacture |
Remained term before the expiration of the Certificate of seaworthiness, year |
Distance to destination from the home harbor £1, nautical mile |
Distance to destination from foreign port of departure £2, nautical mile |
Daily productivity of cargo operations in point of destination qG1, tonne / day |
Daily productivity of cargo operations in port of departure qG2, tonne / day |
Daily bare boat charter rate, US dollar / day |
10000 |
6463 |
12.5 |
19 |
1986 |
1 |
2000 |
1500 |
1400 |
2000 |
5500 |
12000 |
7956 |
12.7 |
20 |
1987 |
2 |
2100 |
1580 |
1600 |
2190 |
5800 |
14000 |
9484 |
12.9 |
21 |
1988 |
3 |
2200 |
1660 |
1800 |
2380 |
6100 |
16000 |
11044 |
13.1 |
22 |
1989 |
4 |
2300 |
1740 |
2000 |
2570 |
6400 |
18000 |
12631 |
13.3 |
23 |
1990 |
5 |
2400 |
1820 |
2200 |
2760 |
6700 |
20000 |
14243 |
13.5 |
24 |
1986 |
1 |
2500 |
1900 |
2400 |
2950 |
7000 |
22000 |
15877 |
13.7 |
25 |
1987 |
2 |
2600 |
1980 |
2600 |
3140 |
7300 |
24000 |
17533 |
13.9 |
26 |
1988 |
3 |
2700 |
2060 |
2800 |
3330 |
7600 |
26000 |
19208 |
14.1 |
27 |
1989 |
4 |
2800 |
2140 |
3000 |
3520 |
7900 |
28000 |
20902 |
14.3 |
28 |
1990 |
5 |
2900 |
2220 |
3200 |
3710 |
8200 |
30000 |
22612 |
14.5 |
29 |
1991 |
1 |
3000 |
2300 |
3400 |
3900 |
8500 |
32000 |
24338 |
14.7 |
30 |
1992 |
2 |
3100 |
2380 |
3600 |
4090 |
8800 |
34000 |
26080 |
14.9 |
31 |
1993 |
3 |
3200 |
2460 |
3800 |
4280 |
9100 |
36000 |
27836 |
15.1 |
32 |
1994 |
4 |
3300 |
2540 |
4000 |
4470 |
9400 |
38000 |
29606 |
15.3 |
33 |
1995 |
5 |
3400 |
2620 |
4200 |
4660 |
9700 |
40000 |
31388 |
15.5 |
34 |
1996 |
1 |
3500 |
2700 |
4400 |
4850 |
10000 |
42000 |
33184 |
15.7 |
35 |
1997 |
2 |
3600 |
2780 |
4600 |
5040 |
10300 |
44000 |
34991 |
15.9 |
36 |
1998 |
3 |
3700 |
2860 |
4800 |
5230 |
10600 |
46000 |
36810 |
16.1 |
37 |
1999 |
4 |
3800 |
2940 |
5000 |
5420 |
10900 |
48000 |
38640 |
16.3 |
38 |
2000 |
5 |
3900 |
3020 |
5200 |
5610 |
11200 |
50000 |
40480 |
16.5 |
39 |
2001 |
1 |
4000 |
3100 |
5400 |
5800 |
11500 |
52000 |
42332 |
16.7 |
40 |
2002 |
2 |
4100 |
3180 |
5600 |
5990 |
11800 |
54000 |
44193 |
16.9 |
41 |
2003 |
3 |
4200 |
3260 |
5800 |
6180 |
12100 |