Industries
Vessel valuation, bulk terminals, oil tankers and shipyards.
Sector overview
The marine practice values ships and offshore support vessels, shipyards and their plant, and port and terminal infrastructure. The largest mandate is the pan-India valuation of Bharati Defence and Infrastructure, including its vessels, for Edelweiss Asset Reconstruction Company (₹4,428 crore book value). Fleet work includes Shipping Corporation of India, Essar Shipping’s vessels at Jebel Ali in the UAE, an oil tanker for the Arya Group at Duqm in Oman, and offshore support vessels for Global Offshore Services, valued for State Bank of India on both an asset and an enterprise basis.
Shore-side assignments cover Rewas and Dighi ports in Maharashtra, cost validation of the Essar bulk terminal at Salaya for a PNB-led consortium, and the Pinky and Tebma shipyards, both valued under the Insolvency and Bankruptcy Code.
Industry challenges
Vessel values move with the charter market and fall with age. We value against current sale-and-purchase evidence for the vessel class and age band, and state the assumptions on scrap and residual value separately.
Terminal cash flows depend on cargo commitments and concession terms as much as on capacity. We review throughput history, take-or-pay contracts and the concession period before accepting the revenue case.
A vessel out of class is a vessel that cannot trade. We check classification, survey and dry-docking status and the cost of overdue special surveys before issuing a value.
Vessels flagged or mortgaged abroad raise enforcement and registry questions for Indian lenders. We report the registry, mortgage and jurisdiction position alongside the value.
Our solutions
Asset and enterprise valuation of ships, offshore support vessels, tankers and barges for security, sale and resolution, in India and overseas ports.
Learn moreViability studies and construction monitoring for jetties, bulk terminals and port infrastructure, including cost validation for lender consortia.
Learn moreValuation of shipyard plant, dry docks and cranes, with independent vetting of yard expansion and repair-facility costs.
Learn moreTrack record
| Client | Scope | Service | Value |
|---|---|---|---|
| Bharati Defence and Infrastructure (for Edelweiss ARC) | Shipyards and vessels across India | Asset valuation | ₹4,428 Cr |
| Shipping Corporation of India | Fleet and shore assets across India | Asset valuation | |
| Essar Shipping | Vessels at Jebel Ali, UAE and in India | Asset valuation | |
| Essar Bulk Terminal, Salaya (for a PNB-led consortium) | Bulk cargo terminal | Cost validation | |
| Global Offshore Services (for State Bank of India) | Offshore support vessels | Asset and enterprise valuation | ₹118 Cr / ₹97 Cr |
| Tebma Shipyard | Shipyard under corporate insolvency | IBC valuation | ₹126 Cr |
| Rewas Port and Dighi Port, Maharashtra | Port infrastructure | Asset valuation | |
| Arya Group | Oil tanker at Duqm Port, Oman | Vessel valuation |
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