IMPORTANT - PLEASE READ THIS AGREEMENT CAREFULLY AS IT GOVERNS YOUR USE OF THE VESSELSVALUE WEBSITE. NOTE THAT THIS AGREEMENT CONTAINS IMPORTANT PROVISIONS THAT YOU SHOULD READ. PLEASE PRINT A COPY FOR YOUR RECORDS. YOU MAY NOT USE THIS WEBSITE UNLESS YOU AGREE THESE TERMS.
1. General Terms Acceptance
By accessing and using the Website and/or applying to register with us, whether or not we accept your registration, you and your Principal (if you represent a Principal) acknowledge and accept that the General Terms (see heading "General Terms") apply to all and any use by you of the Website whether or not you also accept any Trial or Subscription or other service. Such acceptance constitutes an agreement between you and us for your use of the Website other than the Private Area. If you do not agree these General Terms YOU MUST CEASE TO USE THIS WEBSITE IMMEDIATELY.
2. Trial Acceptance
You may apply for a trial ("Trial") of facilities within the Website. In applying for a Trial of any part of the Website (including any facility afforded by the Website) by completing the appropriate request form and clicking on the "TRIAL SUBMIT" button or by otherwise applying for a Trial you agree the Trial Terms (which include terms of access relating to the Private Area) (see heading "Trial Terms"). For the avoidance of doubt by accessing and using the Website after a Trial has been authorised you accept that the Trial Terms apply.
3. Subscription Acceptance
You may apply for a Subscription online or by other agreement. In applying for a Subscription online by completing the appropriate request form for the type of subscription you require and clicking on the "SUBSCRIBE SUBMIT" button you agree the Subscription Terms (which may include terms of access relating to the Private Area) (see clause 6).
4. Acceptance by Principal
Your acceptance of Trial Terms or Subscription Terms, however accepted, shall constitute acceptance by you the individual and the named Principal identified in the relevant request or the subscribing Party named in any subscription agreement.
5. The following terms apply to Trials:
5.1 Upon your request we may at our sole discretion grant you a trial of some or all of the Facilities.
5.2 Your authority for a Trial shall be contained in a Trial confirmation ("Trial Confirmation") which we shall send to you and which shall contain access details (username and password) together with the length of the Trial ("Trial Period") and the limitations on the number of vessels you may value.
5.3 We are under no obligation to accept your application nor are we under any obligation to allow you access to all Facilities. We may withdraw your access to the Private Area or any parts of it at any time and for any reason whether or not reasonable.
5.4 The issue of a Trial Confirmation shall comprise our permission for you to use the Private Area under a Trial Licence.
5.5 You may only use the Private Area subject to the limitations set out in the Trial Confirmation. You agree not to access or seek to access areas that are not authorised under the Trial Confirmation. Your right to use the Private Area ceases upon expiry of the Trial Period and you agree thereafter not to attempt to access the Private Area unless you have been allowed any further Trial Period or we have agreed a Subscription.
6. The following terms apply to standard or bespoke Subscriptions and Pay as You Go:
6.1 Upon your request for a Standard Subscription ("Request"), which shall comprise your offer to us to pay for a Subscription on the terms quoted on the Website and set out in the Request, we may at our sole discretion authorise the requested Subscription.
6.2 The Request may be accepted by us unconditionally (note: where additional terms are proposed by us please see clause 6.3 - bespoke). Upon our acceptance we shall send to you the appropriate Subscription Confirmation.
6.3 Upon your request for a Bespoke Subscription, or we consider that a Subscription Confirmation following a Request should be subject to additional terms, we may offer bespoke terms to you in an additional form for agreement. Following your written acceptance of those terms, the finalised agreement shall, subject to the provisions of this section, comprise the Subscription Confirmation.
6.4 Notwithstanding your acceptance of terms we offer, we are under no obligation to issue a Subscription Confirmation nor are we under any obligation to allow you access to the Private Area or the Facilities.
6.5 Following registration, whether or not you have a Subscription you may purchase credits online and use the credits to buy valuations and/or Valuation Certificates on a pay as you go basis. The purchase of credits does not entitle you to any other service or Subscription or Licence and our agreement for you to purchase valuations or Valuation Certificates does not comprise a Subscription Confirmation. All terms herein relating to valuations apply.
6.6 In the case of all Subscriptions,
(a) the issue of the Subscription Confirmation shall comprise our permission to use the Private Area under a Subscription Licence or for Pay as You Go valuations
(b) under a Subscription Licence you may only use the Private Area subject to the limitations set out in the Subscription Confirmation. You agree not to access or seek to access areas that are not authorised. Your right to use the Private Area ceases upon expiry of the Subscription Period and you agree thereafter not to attempt to access the Private Area unless you have been allowed any further Subscription Period in writing
7. The following terms, or any modification to these terms, and the Definitions in clause 8, apply to any use of the Website:
7.1 General use of the Website is permitted, including use of the Private Area where authorised by a Trial Confirmation or a Subscription Confirmation, and is subject to the following conditions:
(b) you may print or download to a single local hard drive extracts from the content of the Website for your personal use only
(c) you must not remove any proprietary or copyright notices from such extracts
(d) you may not sell or commercially exploit any of the content of the Website
(e) you must not
(i) disassemble, decompile, reverse assemble or reverse engineer the Website, or otherwise attempt to discern the source code of the Website; or
(ii) use manual or automated software, devices, scripts, robots, or any other means or processes to access, mirror, data-mine, scrape, crawl, or spider any web pages or any other information or data apparent from or through the Website
(iii) disrupt or interfere with the Website, or our servers, networks, computer programs, information or services
(iv) seek to access the Private Area unless you have a Licence.
7.2 Licences are subject to the following restrictions:
(a) you will not permit any individual other than one named as an Authorised User to access the Website or use the Facilities or the Data
(b) Authorised Users may only access the Website, use the Facilities and/or use the Data for your business purposes and must not use the information for any other business purpose
(c) with the exception of Valuation Certificates, you may only use the Data for your own internal information; accordingly you may not publicly display or publish the Data, or provide copies of the Data to any third party, or distribute, transfer, sell or disseminate or re-produce the Data (or any part(s) thereof) in any manner or in any form whatsoever using any media of any kind whatsoever, whether via the internet or otherwise, save only to the extent that you are required by a Court to do so or the information is already at the relevant time lawfully within the public domain
(d) except as is expressly permitted by us in writing, you may not do or attempt to do any of the following (nor may you permit any third party to do or attempt to do the following):
(i) disclose your username(s) or password(s) to any Person other than an Authorised User, nor allow any such Person to access the Website or the Data using your username(s) or password(s); or
(ii) modify or make any alterations, additions or amendments to the Data; or
(iii) delete, erase, remove, deface, or cover any trademark, trade name, copyright or other proprietary notice, disclaimer or other statement whether or not used in connection with the Data; or
(iv) attempt to discern the manner in which we obtain and provide the Data; or
(v) use manual or automated software, devices, scripts, robots, or any other means or processes to access, mirror, data-mine, scrape, crawl, or spider any Data; or
(vi) disrupt or interfere with the Data; or
(vii) use the Website or the Data for any purpose that directly or indirectly competes with the Website or our underlying business undertaken through, or as a result of, the Website, or the business of Seasure
(e) subject to the limited rights we grant to you under a Licence, the Rights are and will continue to be the property of VesselsValue, Seasure, and the Licensors.
7.3 You are responsible for the accuracy of information you provide to us and for controlling your Authorised Users and access to the Website, in particular
(a) you warrant that all and any information you provide to us, whether as part of a request for a Trial or a Subscription or otherwise, ("the Information") is full and accurate and sufficient for us to determine whether to agree the relevant Request
(b) you warrant that any individual named by you to be a proposed authorised user in your application request (or in any other document) is an employee of yours and is not acting for or representing any other business
(c) where you represent a Principal you acknowledge and warrant that you act as agent for the Principal/s and are authorised to do so
(d) you undertake to notify us of any change to the Information during the course of the Subscription Period
(f) you are solely responsible and liable, and we accept no liability, for the following:
(i) making appropriate investigations into the necessary systems and/or software (including virus-check software) required to support your access to the Website, and you acknowledge that performance of the Website may vary with equipment and telecommunications links with which it is used
(ii) all of your telecommunications expenses incurred in accessing the Website and/or identifying or using the Data
(iii) maintaining security of usernames and passwords and for keeping such usernames and passwords confidential
(iv) all access to and use of the Website by means of your personnel, your equipment, and/or your passwords, whether or not you have knowledge of or authorise such access and/or use
(g) you shall promptly inform us with details if you become aware of:
(i) any unauthorised access to the Website or use of the Data
(ii) any actual, threatened, or suspected infringement of the Rights which comes to your attention; and
(iii) any claim of which you are aware by any third party that the Data infringes the intellectual property or other rights of any other person.
7.4 You acknowledge that our agreement to grant any Licence is dependent upon the accuracy of the Information you provide to us. Accordingly you acknowledge that we may terminate any Licence should the Information be inaccurate in any material respect.
7.5 You shall at our request and expense do all such things as may be reasonably required to assist us, Seasure or any relevant Licensor in taking or resisting proceedings in relation to infringement of the Rights and in maintaining the validity and enforceability of the Rights related to, arising from or in connection with your use of the Website (or any part(s) of it) and the Data.
7.6 The Website may contain hyperlinks to other websites that are maintained by third parties that we have provided without obligation and for your convenience only. Inclusion on the Website is specifically not an endorsement of those other websites or the third parties who maintain them. Hyperlinks may be subject to terms and conditions imposed by the owner of the website being visited. If you visit one of the hyperlinked websites or click-through to a targeted site, you do so at your own risk and we accept no responsibility or liability for your use of a hyperlink or the consequences arising from your click-through.
7.7 A description of the methodologies that we typically use to value vessels and derive ton mile demand information ("the Methodology") is available at www.vesselsvalue.com/methodology. However, this is subject to the following:
(a) the descriptions, along with any reference to third party materials, is provided as an indicator for your convenience only, and is not a substitute for a formal valuation nor should they be used as trading, investment or other advice. Accordingly any use of the Data and/or any third party materials is entirely at your own risk. The Data (and in particular any vessel valuation or ton mile demand information) should not be seen as a trading recommendation, a solicitation to trade, or advice of any kind whatsoever
(b) we have no obligation to conduct vessel valuations or derive ton mile demand information according to the Methodology. We reserve the right to conduct vessel valuations and/or ton mile demand analysis according to a modified version of the Methodology or according to some other method altogether, without notice to you
(c) we reserve the following rights:
(i) to make changes or corrections and to alter the Methodology
(ii) to make changes or corrections and to alter, suspend or discontinue any aspect, feature or technical specification of the Website
(iii) temporarily suspend access to the Website and the Data for the purposes of maintenance or upgrade
(iv) to withdraw access to the Data, or part(s) thereof, if we cease to publish or cease to have the right to publish the Data, or part(s) thereof, or if the same are the subject of a libel or copyright or other third party right infringement allegation and we consider that withdrawal is advisable in the circumstances, and we may offer you access to broadly equivalent replacement Data instead of those withdrawn; if you notify us that you do not wish to accept such replacements or if we are unable to (or do not) offer you such replacements, and you notify us that you wish to terminate this agreement for this reason, then we will provide you with a pro rata refund of any Charges prepaid for the remainder of the Subscription Period, which shall then cease.
7.8 Each Subscription is conditional upon your payment of the Charges; accordingly
(a) your submission of a Request is your irrevocable agreement to agree the Subscription requested for the full Subscription Period whether or not the Subscription is on a monthly payment basis
(b) you agree to pay our invoices in full within 14 days of receipt.
(c) subscription costs to VesselsValue will increase each year on 1st January. Updated VesselsValue pricing guide is published at www.vesselsvalue.com/subscriptions
(d) if you subscribe or upgrade before 31st December then you are not affected by the new price increase until your next renewal
7.9 In the event of non payment of an invoice or delayed payment, without prejudice to any other rights or remedies otherwise available including recovery of sums due for the full Subscription Period, we reserve the right to
(a) charge interest on the outstanding balance of all overdue sums at the rate of 1% per month or 4% above the current annual base rate at Barclays Bank, whichever shall be the higher; and
(b) temporarily suspend or restrict your rights of access to the Website until all overdue amounts are paid up in full; and
(c) terminate the Subscription Period and the rights thereunder, and in the event that termination is exercised under this provision we shall be under no obligation to reinstate the Subscription Period or the rights thereunder even if payment is made.
7.10 The Website and the Data are provided "as is", "as available", without warranty of any kind, express or implied, including but not limited to warranties of performance, quality, merchantability, fitness for a particular purpose, accuracy, omissions, completeness, and contemporary standards; accordingly
(a) you have no right to access or use data we directly receive from our own data sources save in the visible form produced by us on the Website or electronic form authorised for standard downloadable information
(b) you acknowledge and agree that access to, and your use, of the Data is subject to the Data Disclaimer, which you accept
(c) due to the number of sources from which we obtain the Data, the likelihood of human and machine errors, the inherent hazards of electronic distribution and the Internet, and the nature of the Methodology, we cannot guarantee the accuracy of the Data, although we warrant
(i) that we have used our reasonable endeavours to ensure the accuracy of the Data in accordance with the Methodology, and
(iii) that we have authority to contract with you.
7.11 You acknowledge and agree that some browsers may have greater functionality than others and you accept that the Website has not been constructed to operate with any specific browser. Further you agree that the possibility of electronic invasion or interference cannot be guaranteed to be excluded. Accordingly, for the avoidance of doubt
(a) although we shall use our reasonable endeavours to ensure a satisfactory service we do not make any warranty that access to the Website or the Data will be uninterrupted, secure, complete or error free or that the Website or the Data will be free of infection by "viruses", "worms", "Trojan horses" or other contaminating or destructive properties. You acknowledge that our provision of the Website and the Data entails the likelihood of some human and machine errors, delays, interruptions and losses, including the inadvertent loss of data or damage to media for which we are not responsible and accept no liability
(b) we are only responsible for display of and operation of the Website and the Data; accordingly we give no warranty as to your ability to access the Website using any particular web browser whether via fixed or mobile or hand-held devices and we accept no liability should the browser you use at any time not work in any respect in conjunction with the Website.
7.12 Each valuation arising from the Data including one provided through Historical Valuations, and any Valuation Certificate, is subject to the Valuation Disclaimer, which applies in every case, and which you acknowledge and accept.
7.15 Without prejudice to the generality of the preceding provisions in this section, and for the avoidance of doubt, neither we, nor Seasure nor any Licensors shall be liable to you for any claim(s) relating to
(a) any decision made or action taken by you in reliance on the Data or a valuation arising from use of the Website
(b) inability by you to access the Website or the Data at any time
(c) any losses caused by acts of God, acts of any Government, war or other hostility, civil disorder, the elements, fire, explosion, power failure, equipment failure, industrial or labour dispute, inability to obtain essential supplies and the like
(d) any claim by a third party for any reason arising from or in connection with your use of the Website and/or the Data
(e) any claim arising from your click-through or access to a link shown on the Website or dealings with the proprietor or any other person responsible for the website targeted by the link.
7.16 You agree to indemnify and hold us and Seasure, our respective directors, officers, and employees, and the Licensors harmless from and against any claims, damages and expenses, including legal and professional fees, arising from or in connection with your Authorised Users or use of the Website and/or the Data or any matter arising from such use, save that this indemnity shall not apply in the case that the claim, damages and expenses arise as a result of information obtained from the website and use of the website wholly in accordance with the authorisations and use permitted by the online terms and any additional agreement.
7.18 Without prejudice to any other provision herein, and by reason of your agreement to the various provisions herein, you agree that
(a) the maximum liability for any claim(s), whether against us alone or against us together with Seasure or any third party, shall be limited to the aggregate amount of the Charges paid by you during the 12 month period preceding the event giving rise to such claim, or the sum of £5000 whichever shall be the lower
(b) you shall not be entitled to bring any claim more than one year after the basis for the claim first arose
(c) the limitations on liability and period are reasonable in all of the circumstances.
7.21 You agree not, during the Subscription Period or for 6 months thereafter for any reason whatsoever directly or indirectly, either alone or with any third party, to
(a) solicit, communicate, and/or deal with, in a manner liable to cause us a loss of business or income or otherwise be detrimental to our business in any way, any member of staff employed or engaged by VesselsValue or Seasure ("Member of Staff") of which you have become aware is a Member of Staff, but so that following the Subscription Period this restriction shall only apply to parties who have been a Member of Staff within the last 12 months prior to the termination of the Subscription Period
(b) endeavour to, induce, or do any act capable of inducing any person being a Member of Staff engaged at the date of termination of this contract by us to terminate his employment or engagement with us or to act in breach of his/her employment contract
(c) accept into employment or engagement or utilise the services of any person who was a Member of Staff during the period of 12 months prior to termination of the Subscription Period.
(a) copies of any paper or electronic files folders or records of any kind without limitation held by you on any media or device and which relate to or are connected with the Abnormal Usage whether or not retained on any device used by you in connection with Abnormal Usage ("the Usage Files"),
(b) all devices used by you in connection with the Abnormal Usage or Usage Files
(c) details including full name and address of persons who can access the downloaded information,
(d) details of the IP addresses of all and any computers or devices on which the downloaded information is stored with details of the location of such computers or devices and details of ownership of such computers or devices used in connection with Usage Files,
(e) information as to how the downloaded information has been used including provision of copies of all and any records showing transmission of the information to any person or the provision of actual access to any person, together with all and any electronic files and folders relating thereto including email, messaging, facsimile, memory storage, printing, without limitation relevant to your usage of information.
(a) terminate a Subscription at any time without compensation
(b) make a claim or take such action as is appropriate or required to enforce your obligations and restrictions under these Terms; action may include the requirement for you to destroy all and any copies of any files, folders or information obtained from us; you acknowledge that a claim for damages may not be a sufficient remedy in the case of your breach hereunder and that we may seek equitable relief including a claim for specific performance, an injunction, for delivery up of materials or for a share in profits arising from your breach or such other remedy as shall at the time appear appropriate.
7.27 We may without limitation, and without your prior written consent, assign, transfer, delegate or sub-contract, whether in whole or in part, any benefit due to us or our duties and obligations arising hereunder.
7.31 Notices shall be in writing sent to the addressee by first class post, or by electronic mail ("email") to the last active email address for contact provided by the receiving party, and shall be deemed to have been received, in the case of post on the third postal date following the date of posting, and in the case of electronic mail on the earlier of the date electronic confirmation of receipt is received or 24 hours since the email containing the notice was sent; in the case of service by more than one method the date of the first valid service applies.
(i) by our publication and notification of varied terms on the Website (notification being contained on login following publication) and it shall be your sole obligation to review the terms upon each use by you, or
(ii) by us and confirmed in writing, whether in agreement or otherwise, signed by a director of ours.
7.33 The laws of England and Wales govern this agreement and the English Courts shall have sole jurisdiction over any matter arising hereunder.
8. The following definitions apply:
"Affiliate" an entity controlling, controlled by or under common control with VesselsValue
"Authorised User(s)" the individual(s) expressly authorised by us in a Trial Confirmation or a Subscription Confirmation to access the Website and use the Data
"Charges" the higher of the amount specified at the relevant time on the Website for the relevant Subscription (not applicable to Bespoke Subscriptions) or as set out in the Subscription Confirmation, to be paid by you to us.
"Content" the information contained on any page within the Website
"Data" the valuations, information, figures, text, graphics, logos and other materials contained within the web pages of the Website, and any reference to Data includes reference to all and/or any part of the Data
"Data Disclaimer" The following disclaimer:
The information provided on vessels' positions, identity and details, originates directly from the vessels, which transmit this information through public radio frequencies, according to the 'Automatic Identification System' (AIS). This information may contain errors, due to the intrinsic limitations of radio communications (e.g. limited coverage, interference, attenuation, special weather conditions etc.), due to erroneous configuration of the AIS devices on board, due to negligent and/or wrong data entry by vessel's crew, due to erroneous position received by the vessel's GPS and/or due to other factors beyond the control of VesselsValue or its data supplier. Vessel positions may be delayed or incomplete. AIS-enabled services are for informational purposes only and are neither intended to promote nor permitted to be used with respect to, the safety of navigation. VesselsValue and its data supplier do not guarantee the correctness, validity or scientific accuracy of the AIS-enabled services. Information derived from AIS-enabled services, such as the VV Trade and Ton Mile Demand information, may under no circumstances be relied upon as the basis for any action, nor regarded as advice with respect to any possible action. Any actions undertaken by you based on AIS-enabled services is entirely at your own risk and shall not create any liability on the part of VesselsValue or its data supplier.
"Facilities" the services set out in or available from the Private Area
"General Terms" those terms set out in clause 7
"Historical Valuations" the service of that name included within the Website for tracking the past value of vessels and provision of historical valuation information
"Licence(s)" either a Trial Licence or a Subscription Licence as the case may be
"Licensor(s)" a third party(ies) who license(s) Data to VesselsValue for inclusion in the Website
"Methodology" a set of methods developed to determine how a specific result or results is to be calculated. VesselsValue methodologies are viewable here.
"Person" an individual, or group of individuals including a partnership, or business entity including a company or other legally identifiable entity under any jurisdiction
"Principal" another person or persons who you work for at the time of your application or request to us
"Private Area" the login area of the Website which is a subscription based, access restricted services portal comprising facilities including
current and historical values for individual vessels, fleet and portfolio values and market intelligence
searching vessel database by commercial and technical characteristics
mapping and tracking of the fleet using live satellite and terrestrial AIS data
"Rights" all rights, including intellectual property and moral rights of any and every kind, including copyright and title, including design rights in all languages, formats and media throughout the world, in the Website, the Content and the Data
"Seasure" our partner Seasure Shipbroking Limited of Lyric House, 149 Hammersmith Road, London W14 0QL, Great Britain
"Subscriber" a person or entity that we have agreed to allow to access and/or use certain features of the Website and/or parts of the Data
"Subscription" the particular features of the Website and/or parts of the Data that a Subscriber is entitled to access or use, being
(a) a "Standard Subscription" namely a subscription for a standard package, being any standardised package that does not require to be tailor made for your specific requirements, is not solely Pay As You Go, and is designated by us as a standard package, of which details are specified in a Subscription Confirmation, or
(b) a "Bespoke Subscription" being one that does not fall within the category of a Standard Subscription or Pay as You Go, and of which details are specified in a Subscription Confirmation, or
(c) "Pay as You Go" namely access to the facility on the Website under which credits are available for purchase to be used to buy individual valuations and/or Valuation Certificates without a requirement for a Standard or Bespoke Subscription Confirmation
"Subscription Licence" a non-exclusive, non-transferable, non-assignable, revocable, limited licence to access the Website (through a generally available web browser or mobile device or application) and to use the Facilities permitted by the Subscription for the Subscription Period only ("the Subscription Licence")
"Subscription Period" the range of dates for which a Subscription is valid. The Subscription Period is specified in the Subscription Confirmation
"Subscription Terms" those terms set out in clause 6
"Trial Licence" a non-exclusive, non-transferable, non-assignable, revocable, limited licence to access the Website (through a generally available web browser or mobile device or other approved application) and to use the valuation facility within the Website only for the purposes of evaluating the results it produces
"Trial Terms" those terms set out in clause 5
"Valuation Certificate" A certificate downloadable from the Website in PDF format, or such other format as we allow from time to time, and which comprise a formal valuation of the vessel concerned, subject to the provisions herein concerning valuations, together with a disclaimer in the terms of the Valuation Disclaimer
"VV Trade" the AIS derived analytics such as vessel journeys and ton mile demand forund on the VV Trade section of the website
"Valuation Disclaimer" The following disclaimers:
Market Valuation Disclaimer:
(a) the Market value provided is an estimate of fair market price as at the valuation date only, and is based on the price VesselsValue estimates as its opinion in good faith that the vessel would obtain in a hypothetical transaction between a willing buyer and a willing seller on the basis of prompt charter free delivery at an acceptable worldwide delivery port, for cash payment on standard sale terms. For the purposes of that opinion it is assumed that the particulars of the vessel are correct, and that the vessel is in good, sound and seaworthy condition, free of maritime liens and all debts whatsoever, fully classed to the requirements of her present classification society, free of class recommendations, with clean and valid trading certificates, and where relevant to type and age of vessel with full oil majors, Rightship and any other relevant approvals in place. It should be noted that VesselsValue has neither made a physical inspection of the vessel nor inspected her class records.
(b) no warranty is given as to the condition of the vessel, the correctness of its stated characteristics or particulars, or the state of or availability of its records.
(c) this valuation is not a substitute for a formal valuation or independent inspection and advice, which you should obtain. You should not rely on this valuation to conduct any transaction, nor should you use or rely upon this valuation as market information, or for gathering such information, related to any prospectus, or bond issue, or other financial offer document.
DCF Valuation Disclaimer:
(a) The Discounted Cash Flow (DCF) value provided is an estimate of the net amount in US dollars the vessel is expected to earn over its remaining life expressed in today's money, calculated using DCF analysis. Sometimes it is called Value in Use, Long Term Asset Value (LTAV), Net Present Value (NPV) or the Income in Use approach. For the purposes of this DCF value it is assumed that the particulars of the vessel are correct, and that the vessel is in good, sound and seaworthy condition, free of maritime liens and liabilities whatsoever, fully classed to the requirements of her present classification society, free of class recommendations, with clear and valid trading certificates, and where relevant to type and age of vessel with full oil majors, RightShip and any other relevant approvals in place. It should be noted that VesselsValue has neither made a physical inspection of the vessel nor inspected her class records.
(b) This DCF value is calculated using assumptions about current and future income and expenses. They may include VesselsValue assumptions or the user's own assumptions. The source is stated on the valuation certificate and indicated on the online page next to each assumption. Regardless whose source, it should be understood that any change to the assumptions may have a large material affect on the DCF value. As examples, increasing expected future earnings or lowering OPEX can give a very significant increase in value. We cannot guarantee the availability of appropriate rates for all ship types or the accuracy of adjustments to allow for the specification of the vessel, especially for specialised or unusual vessels. VesselsValue, therefore, advises caution in using this DCF value without reviewing the assumptions very carefully. The user is invited to input their own assumptions, whether they be from actual experience or from alterative date sources.
(c) You should not rely on this valuation to conduct any transactions, as it is not intended to reflect a market-transactable value. Nor should you use or rely upon this valuation as market information, or for gathering such information, related to any prospectus, or bond issue, or other financial offer document. This valuation is not a substitute for independent inspection and advice, which you should obtain.
(d) For glossary of terms please visit www.vesselsvalue.com/glossary/
"VesselsValue" VesselsValue Limited of Lyric House, 149 Hammersmith Road, London W14 0QL, Great Britain, telephone +44 20 3026 5555, email email@example.com. "Us" "we" "our" and "ours" refers to VesselsValue
"Website" the various electronic pages located on the world wide web at URL https://www.vesselsvalue.com/ and all parts of it
"You" you, the person accessing the Website in the capacity in which you are acting at the relevant time; "you" includes you the individual and a Principal; "your" and "yours" has corresponding meaning.
Message your account manager to discuss your renewal and to hear about the latest developments available.