Due Diligence

As a leading maritime technical services provider, SeaTec is fully committed to undertaking due diligence wherever required.

In 2019 SeaTec successfully completed technical due diligence for three fleets for a major ferry company ahead of its acquisition by a financial organisation.

This major project took a total of two months to complete by a team of five including a project manager, two project engineers and one inspector. The work involved the team attending vessels and technical offices to conduct a full scope investigation of the fleet condition OPEX and CAPEX as well as measure sulphur emissions to ensure compliance with IMO 2020.

There were multiple benefits for the client as a result of the project. Thanks to SeaTec’s analysis of the current and future OPEX and CAPEX, the client was able to accurately budget for a secure investment ahead of their acquisition. The condition inspection carried out included a thorough review of the vessels’ previous maintenance and dry dock activity.

SeaTec also conducted a cost-benefit-time evaluation to assess the investment efficiency ahead of IMO 2020. This included a sensitivity analysis based on bunker costs and fuel consumption, considering all technical feasibility and risks.

The project delivered further benefits for the client in terms of the consultancy offered by the team. One of the benefits of using SeaTec is the level of expertise and consultancy that the organisation can bring to a project. The client valued the advice SeaTec could provide based on the company’s extensive experience of major refurbishments, retro-fitting and knowledge on the latest systems technology. The project manager also worked very closely with the client to deliver a bespoke service which the client fully appreciated as, due to the project manager’s input, they were able to reach decisions more effectively.

SeaTec offers a range of inspection services aimed at managing risk for ship owners and operators, and for financial institutions. More information on these services can be found under Inspections.

To find out more about our commitment to due diligence, contact us today.

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