Sea Technology

JUN 2017

The industry's recognized authority for design, engineering and application of equipment and services in the global ocean community

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www.sea-technology.com June 2017 / st 19 ing. Its impact, while not always appar- ent, reaches across the entire shipping supply chain and affects every stake- holder—be it vessel owner or main- tenance engineer, bunker provider or ship supplier. Understanding Exposure to Risk The Basel frameworks, a develop- ment of earlier regulations brought in following the global financial collapse of 2008, impose upon the European banking community (regardless of which sectors they invest their money in) an enhanced requirement to limit their exposure to risk and better man- age toxic asset portfolios. They are now required to set aside significant sums to offset faulty loan repayments, which makes the investment scenario consid- erably more expensive for them. They have to reduce the chasm between the asset and liability sides of their balance sheets and ensure more stable access to liquidity over a longer period. Shipping is a risky business and has previously proven toxic. It is now, therefore, an area of investment that receives much greater scrutiny by banks worldwide (which have by and large replicated Basel III requirements) and the financial authorities that gov- ern them. This makes it harder for ev- eryone within the industry to secure fi- nance and demands that they exercise unprecedented levels of transparency across all shipping operations. As a leading expert in ship inspec- tion services, Idwal Marine assists banks, financial institutions, private equity groups and ship brokers, own- ers and operators, across the globe by consulting on and managing the in- service risks of shipping portfolios. We also provide due diligence, technical advice and quick turnaround prepur- chase inspections. Our core strength lies in our technical excellence and the clarity of our reports that sum- marize all data in a clear, jargon-free format that enables investors to make informed decisions regarding the next step for their marine investments. Making Access Easier In the past 12 months alone, we have seen a 150 percent rise in the number of ship inspections requested by banks and lenders. This covers ves- sel condition, prepurchase and presale inspections of all vessel types. This trend is not limited to our customers on the finance side, as we have also seen the number of inquiries from owners and operators, brokers and charterers rise significantly since the launch of our online ship inspection platform: www.inspectmyship.com. Inspect My Ship is the shipping in- dustry's first cloud-based online plat- form to provide instant quotations and deliver complete inspection reports specifically designed to be easy to digest, without being light on detail. Users can track the progress of each inspection, receive photographic and documentary evidence from the vessel and download full condition reports through the online interface and be as- sured of an accurate assessment of the condition of the vessel, regardless of where it is located. This means that banks, owners and operators, charterers and flag states or any institution with a vested interest in a shipping asset can have immediate access to reliable and cost-efficient in- spection services by qualified inspec- tors anywhere in the world, at any time. For example, a ship broker in Ham- burg can order a complete precharter inspection on a vessel in Vietnam and receive a complete inspection report quickly and efficiently, as opposed to the clunky process of a ship owner having to schedule its own superinten- dent to make the trip to Vietnam at the soonest available time and account for the entire journey. info@edgetech.com USA 1.508.291.0057 Clearly Superior Imaging SONAR SYSTEMS SUB-BOTTOM PROFILERS BATHYMETRY SYSTEMS SIDE SCAN SONARS "In the past 12 months alone, we have seen a 150 percent rise in the number of ship inspections requested by banks and lenders."

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