J A M E S O N T H E R I A U L T - timarine.comtimarine.com/Margaret_Elizabeth_No1.pdf · 2008 Repower with new Caterpillar 3512 main engine and Reintjes marine gear) ($900,000.00

J A M E S O N T H E R I A U L T M A R I N E S U R V E Y S

Certified Marine Surveyor (IIMS 00-0184) / BSc

P.O. Box 1330, Digby, NS Canada B0V 1A0

Phone: 902.245.5652 / Fax: 902.245.5278

Email: [email protected]

J A M E S O N T H E R I A U L T : M A R I N E S U R V E Y O R

CONDITION & VALUATION SURVEY

~ MARGARET ELIZABETH No. I ~

Trusted Marine Surveys

20 Years Strong

Jameson Theriault - Marine Surveys F/V “MARGARET ELIZABETH No. I”

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Owned Supplied Photographs


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CONTENTS

1.0 SURVEY PARTICULARS………………………………………………… 4 - 5 2.0 SHIP’S PARTICULARS…………………………………………………… 6 - 9 3.0 HISTORY OF USE / CERTIFICATION…………………………………. 8 - 9 4.0 NOTABLE REPAIRS & UPGRADES…………………………………… 10 5.0 CONSTRUCTION PARTICULARS & CONDITION………… …………. 11 - 14 6.0 FISH HOLDS / RSW SYSTEM………………………………………….. 14 - 16 7.0 HYDRAULICS / RIGGING / HATCHES…………………………………. 16 - 19 8.0 LOSS PREVENTION & EMERGENCY SYSTEMS……………………. 19 - 21 9.0 DRIVETRAIN / STEERING GEAR………………………………………. 21 - 22 10.0 ACCOMMODATIONS / DOMESTIC SERVICES…………………….... 23 - 24 11.0 PILOTHOUSE / ELECTRONICS………………………………………… 25 - 26 12.0 POWERTRAIN / BOW THRUSTER…………………………………….. 27 - 29 13.0 FUEL SYSTEM…………………………………………………………….. 29 - 30 14.0 ELECTRICAL SYSTEM…………………………………………………... 30 - 32 15.0 BILGE & FIRE PUMPS / THRU-HULL FITTINGS ……….…………… 32 - 33 16.0 POWER SKIFF INSPECTION……….…………………………………… 33 - 34 17.0 MAINTENANCE ISSUES / SUGGESTIONS (SUMMARY)…………… 35 18.0 RECOMMENDATIONS…………………………………………………… 35 19.0 SURVEYOR’S COMMENTS……………………………………………… 36 20.0 VALUATION / ECONOMIC LIFESPAN……………………………….... 37

21.0 ATTACHMENTS…………………………………………………………... 38 - 44


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DATE OF ISSUE: March 24, 2018 REPORT NO: CV6085

1.0 SURVEY PARTICULARS 1.1 TYPE OF SURVEY

Condition & Valuation Survey for Resale, Banking, and Insurance Purposes. 1.2 SURVEY REQUESTED BY

Marine Broker

Theriault International Limited

Contact Phone Numbers / Email Address

(902) 467-0239

(902) 247-0380

[email protected] 1.3 DATE / PLACE OF SURVEY

March 2 - 3, 2018 / Black’s Harbour, New Brunswick, Canada


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1.4 PURPOSE OF SURVEY

i. To identify the vessel and its systems.

ii. To ascertain “Fair Market Value” for banking, resale and insurance purposes.

iii. To identify any notable outstanding maintenance issues and to propose suggestions for improvement.

iv. By way of recommendations, to document any issues or discrepancies that might adversely affect value or that might cause a threat to the safety of crew or that might constitute an enhanced insurance risk for underwriters.

1.5 SCOPE & LIMITATIONS OF SURVEY

We examined the vessel afloat at the wharf. The outside of the underwater hull was not viewed and the vessel was not sea-trialed.

All topside and under deck compartments were examined where readily accessible and exposed. The mechanical and electrical systems and other onboard systems were examined visually and were tested where practical. No internal tanks spaces were viewed. The 2nd engineer was onboard during part of the survey.

Photographs

For thoroughness, this report contains 2 owner supplied photos (Page 2) of the vessel at sea and 5 photos of the underwater hull from our 2014 Insurance Survey (See 21.3).

All other photographs are current and were taken during this survey.


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2.0 SHIP’S PARTICULARS & ARRANGEMENTS 2.1 GENERAL INFORMATION

2.2 PRINCIPAL PARTICULARS

2.3 POWER AND SPEED PARTICULARS

2.4 PRIMARY TANK CAPACITIES (APPROX.)

Name “MARGARET ELIZABETH No.1”

Vessel Type Herring purse seiner

Year Built 1971

Official Number 344957

IMO Number 7116157

Port of Registry Grand Manan, NB Canada

Flag of Registry Canada

Builder Ferguson Industries, NS, Canada

Length Overall 114.9 feet / 35.0 metres

Length Waterline 106.7 feet / 32.5 metres

Breadth Moulded 30.0 feet / 9.1 meters

Depth Moulded 15.2 feet / 4.6 meters

Lightship Draft (Approx.) Forward: 8 feet / 2.4 meters

Aft: 13 feet / 4.0 meters

Registered Tonnage GRT 369.01 / NRT 179.93

Main Engine Caterpillar 3512 / 1500 HP

Speed (Cruise / Max.) 11 Knots / 12 Knots (loaded)

Gen-Sets 2 x 125 kW

Bow Thruster 125 HP

Diesel Fuel Capacity (4) 18,000 US gallons / 68,137 Litres

Freshwater Capacity (2) 4,800 US gallons / 18,169 Litres


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2.5 FISH HOLD STORAGE CAPACITY

2.6 ACCOMMODATIONS 2.7 GENERAL DESCRIPTION - ARRANGEMENTS

No. of Fish Holds 6 (2 forward / 4 aft)

Total Capacity of Holds 325 Tons approx.

No. of Cabins 3 Crew cabins / Captain’s cabin

No. of Bunks 9 Bunks

No. of Washrooms 1 Common / 1 Private (Captain)

Profile (Preceded the Raked Stern Upgrade)

Plan View - Main Deck (Aft Hold Coamings Forward)


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3.0 HISTORY OF USE / CERTIFICATION 3.1 GENERAL INFORMATION

History of Use

“MARGARET ELIZABETH No. 1” has a longstanding track record as a highline seiner in the Eastern Canada herring fishery. The vessel has been family owned and operated since construction and could be described as “The Pride of the Fleet”.

“MARGARET ELIZABETH No. 1” has operated on a full time basis since construction (with winter layovers) and fished the 2017 herring season.

The vessel remains in state of fishing readiness.

Hull Design Welded steel full displacement round chine hull with raked stern.

Boat Deck (Fwd. to Aft) Forward deck with windlass.

Captain’s cabin and washroom.

Raised pilothouse.

Main Deck (Fwd. to Aft) Forepeak storage room.

Accommodations with common washroom, 4-bunk crew cabin and 2 x 2-bunk crew cabins.

Full service galley and mess aft in the accomm. area with utility room along the portside.

Work deck abaft the accommodations.

Raised seine platform and skiff ramp aft.

Below Deck (Fwd. to Aft) Lower forepeak compartment (sonar tubes, etc.).

Forward fish holds (port / starboard).

Engine room with aft alleyway / shaft tunnel to the tiller flat.

Aft fish holds (2 port / 2 starboard).

Tank Arrangements 2 Freshwater tanks in the forepeak.

4 Fuel tanks (2 deep tanks in the engine room). (2 wing tanks in the stern quarters).

Hydraulic tanks in the E/R (primary and holding).

2 Lube oil storage tanks in the engine room.


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Class / Certification

“MARGARET ELIZABETH No. 1” has been inspected to rigid Transport Canada and Lloyd Register standards. The vessel was in class at time of the survey.

A copy of the Lloyd’s Register certificate is attached (APPENDIX 21.1).

Work Deck Forward / Raised Pilothouse on Boat Deck

Work Deck Aft with Raised Seine Platform


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4.0 NOTABLE REPAIRS & UPGRADES 4.1 SUMMARY OF NOTABLE REPAIRS & UPGRADES (APPROX. DATES)

Structural Related Repairs & Upgrades

Stern section modified in the mid 1980’s (converted to a raked transom) with heavy duty deck plating (including the stern fuel tank tops) and raised seine platform.

Certain steel work amidships along the keel was replaced following a grounding incident in 1992. A new top was installed on the aft freshwater tank in 2015.

The fish hold linings have been refurbished and the pilothouse aluminum-to-steel deck interface has been refurbished.

Mechanical Related Systems

1992 New Caterpillar 3406 auxiliary engine (hydraulics). New bow thruster installed.

1999 New Caterpillar 3306 auxiliary engine (no. 1 gen-set).

2008 Repower with new Caterpillar 3512 main engine and Reintjes marine gear) ($900,000.00 approx. refit). New tailshaft, intermediate shaft and shaft bearings.

New main engine driven full backup hydraulic system.

2009 New 5-blade propeller. New refrigeration system (RSW).

Full rebuild on the main purse seine winch.

2013 Full rebuild on the Wagner steering gear. New main boom.

2017 New titanium plate cooler for the hydraulic system.

Electrical System

1992 Major rewire of the electrical system (major insurance job following a grounding incident and engine room flooding).

Miscellaneous localized electrical system upgrades have been carried out since the 1992 rewire.

Electronics / Navigation Equipment

Full modern electronics package with over $100,000.00 spent in 2017 upgrades (See 11.0).

Accommodations / Domestic Systems

The interior finish work in the accommodations, washrooms and pilothouse have been refurbished and the galley appliances have been renewed as necessary.

The washrooms were recently upgraded with new toilets with macerator pumps and waste tank system.


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5.0 CONSTRUCTION PARTICULARS & CONDITION 5.1 CONSTRUCTION PARTICULARS & CONDITION

Hull Construction

Heavily built round-chine hull with suitably sized and spaced transverse and longitudinal framing.

The original building plans were not available, however, the following profile from a 2003 ultrasound shows hull plating thickness of nearly ½” at the forefoot and 5/16” or thicker elsewhere on the underwater hull. Note - the latest ultrasound was completed in 2015, but did not include detailed drawings.

Hull Plating Thickness - Forward Starboard Side

Excerpt from Builders Original Specifications


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Hull Exterior Structural Condition / Recent Ultrasound Report

The outer hull plating was in good visible condition where exposed above the waterline.

A recent (2015) ultrasound of the hull plating was completed for class requirements by a Lloyds Register approved company (Passmore Inspection & Consulting Ltd).

This survey found no significant plate thinning issues - discrepancies in the freshwater tank and starboard shaft tunnel were repaired.

A copy of this 80-page report in PDF format can be forwarded upon request.

Hull Exterior Cosmetic Condition

The hull coatings were in average condition where exposed above the waterline (last painted in April 2017).

Hull Interior Steelwork Condition

The inner hull plating, framing and bulkheads were well maintained and in good overall condition where exposed and readily accessible. A new top was fitted on the aft freshwater tank in 2015 (floor of the lower forepeak utility room).

MAINTENANCE ISSUE n

The exposed steelwork in the hard to reach areas in the lower bilges was rust covered.

Deck Plating

It was evident that the steelwork on the boat deck and work deck had been well maintained throughout years, as there was no significant pitting or scaling (the coatings were in good standing). The only exception was worn coatings and light rust on the work deck along the starboard side around the roller (heavy work area).

Well Built Steel Hull

Hull & Deck Steelwork in the Lower Forepeak Comp. Light Scaling on E/R Plating


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Bulwarks

The bulwark and rail caps around the boat deck were in good condition and the coatings were in good standing.

OUTSTANDING MAINTENANCE ISSUE n

There was rust staining along the aft bulwarks on the work deck (more prevalent under the roller on the starboard side - this area was in need of maintenance).

Raised Pilothouse

The raised aluminum pilothouse was in sound structural condition where exposed.

The pilothouse aluminum-to-steel deck interface was refurbished in 2008 (approx. year). There was some rust staining along fasteners in this area.

The pilothouse was fitted with marine grade windows (all in serviceable condition).

Steelwork in the Tiller Flat Steelwork in the Aftermost Bilge

View of the Boat Deck & Bulwark Rails


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6.0 FISH HOLDS / RSW SYSTEM 6.1 FISH HOLDS

Configuration / Linings

2 Holds forward of the engine room (port / starboard).

4 Holds abaft the engine room (2 port / 2 starboard).

The holds were insulated and were finished with fibreglass-over-plywood linings. The linings have been refurbished since construction and were in notably good visible condition (only minor wear and tear evident).

The linings were not percussion tested for delamination (i.e. lifting from the underlying woodwork).

Total Capacity of 6 Holds

325 Tons of herring.

SUGGESTION n

The heavy aluminum hatch covers over the raised hold coamings are cumbersome and should be replaced with new lightweight aluminium hatches.

The steel work along the tops of the fish hold coamings were rusted and in need of general maintenance.

This photo shows the good condition of the linings in the forward hold on the portside. Photos of all 6 holds are attached (APPENDIX 19.2).

Work Deck & Aft Bulwark Portside Work Deck, Roller & Aft Bulwark Starboard Side


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6.2 RSW SYSTEM (REFRIGERATED SEAWATER)

System Type

Direct expansion system.

Primary System Components

75 HP Vilter 320 reciprocating compressor, receiver, condenser and 4 chillers.

Except for the receiver, these items were installed new in 2009 (approx. year).

Dedicated Fish Pumps & Plumbing

2 x 4” Brine pumps / 10” Fairbanks centrifugal main fish pump.

A significant portion of the steel piping for the brine pumps has been replaced over the years (some original piping remains).

Modern PVC plumbing was routed to the chillers.

MAINTENANCE ISSUE n

The fish pumps have been rebuilt many times through the years and were in functional condition, however, they were worn and parts are hard to come by (the pumps should be replaced in keeping with prudent maintenance practices).

Fish Hold Capacities (Ft³)

2765 ft³

2765 ft³

1835 ft³ 1685 ft³

1835 ft³ 1685 ft³

Vilter 320 Compressor

Brine Pump 1 of 2) & Main Fish Pump


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General Comments - System Capabilities

The RSW system circulates refrigerated seawater through the fish holds at 32° F and is designed for water temperatures at approx. 45 deg. latitude.

SUGGESTION n

The RSW system would require upgrades for effective use in warmer waters (i.e. a larger condenser).

Related Deck Gear

Upper and lower aluminium dewatering boxes and other specialized equipment and rigging for the seining process (all in good visual condition where readily accessible and exposed).

7.0 HYDRAULIC SYSTEM – DECK GEAR / RIGGING 7.1 SURVEY LIMITATIONS

The hydraulic system was comprised of a vast (and complicated) array of pumps, motors, hoses, fittings valve banks and supporting components - a comprehensive analysis of these items was beyond the scope of this report. The following assessment is descriptive in nature and was based primarily on a visual inspection of the exposed components and limited testing of deck gear during the survey.

7.2 PRIMARY HYDRAULIC SYSTEM

The primary hydraulic system (open system) is powered by a dedicated Caterpillar auxiliary engine in the engine room on the starboard side (4 pumps with Funk PTO).

Hydraulic Auxiliary Engine Particulars

1992 Caterpillar 3406-B / 365 HP @ 1800 rpm

Serial No: 4TB02627

Hours of Use: 18,087

Cooling / Exhaust: Grid cooler / Dry Exhaust

RSW Compressor / Receiver PVC Plumbing for Chillers

Engine Serial No. & Hours


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Condition / Service History

The hydraulic engine was in good working order and has been well maintained (annual service by Caterpillar mechanics). The camshaft has been replaced (no major rebuilds).

The engine started right off from cold and ran fine during the survey. 7.3 BACKUP HYDRAULIC SYSTEM & OTHER SYSTEM

Main Engine Drive Backup System

A 4-pump system was installed on the front of the main engine (air bag clutch) in 2008.

This is a full backup system (i.e. not just a come-home system).

Other System

Hydraulic pumps on the front of the no. 1 gen-set engine power the bow thruster and the RSW system.

7.4 TANKS & COOLING

Hydraulic Tanks

Primary Tank: 540 US gallon / 2,044 Litres

Reserve tank: 240 US gallons / 908 Litres

Upgraded Cooling System

A new titanium plate cooler was installed in 2017.

Main Engine Driven Backup Hydraulic System

Primary Hydraulic / Caterpillar 3406 Auxiliary Engine

New Titanium Plate Cooler


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7.5 HYDRAULIC DECK GEAR

Deck Winches

Swann heavy-duty 2 drum purse seine winch and overrun winch. The purse seine winch was removed from the deck and had a complete overhaul in 2009.

Cargo Winches

Multiple cargo winches (mostly Pullmaster brand) for the seining process.

Other Related Deck Gear

Power-block on the main boom (sheave re-rubbered in 2017).

Heavy-duty curb roller along the starboard washboard.

Palfinger PK 7000MB articulated deck crane mounted aft on the boat deck (fairly recent model, but out of service).

7.6 RIGGING

Limitations of Rigging Inspection The gantry, booms and the vast area of stay wires, shackles and other rigging connection and fittings were not examined in detail and were not viewed aloft.

Gantry & Boom

Heavy-duty steel main gantry amidships in good visible external condition where readily accessible and exposed (the plating has been thickness tested periodically).

The gantry outer coatings were in average overall condition (some rust staining).

The gantry houses the exhaust stacks for the main and auxiliary engines.

Suitably sized steel main boom in good visual condition where readily accessible and exposed (new in 2013).

7.7 MOORING HARDWARE

The vessel was fitted with adequate and well secured bollards, fairleads, etc., for mooring purposes - all in serviceable condition with no excessive rope wear.

37” Power Block

Purse Seine Winch & Cargo Winches


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7.8 OTHER EQUIPMENT

2 Air compressor systems with receivers and high-pressure washer.

8.0 LOSS PREVENTION & EMERGENCY SYSTEMS 8.1 FLOOD PREVENTION

Highwater Bilge Alarms (Flood Detection)

Working highwater bilge alarms were fitted for the engine room bilge and aft bilge / tiller flat.

Watertight Bulkheads

Watertight bulkheads are fitted between all major compartments and a watertight door is fitted in the shaft tunnel.

Note: The watertight integrity of the bulkheads was not tested during the survey.

Freeboard and Drainage for the Work Deck / Outer Door Coamings

The work deck has ample freeboard and water drainage with suitably sized and spaced open freeing ports and open stern.

The outer door to the engine room and accommodations (main deck) have suitable raised coamings.

Bilge Pumping System

Capable bilge pumping system (See 15.0). 8.2 FIRE FIGHTING EQUIPMENT

Portable Fire Extinguishers

Suitably sized portable ABC Class fire extinguishers were mounted in readily accessible locations in all compartments. All extinguishers were recently serviced.

Fixed Engine Room Fire Smothering System (CO2)

CO2 system in the engine room (sized in accordance with Class Regulations).

Manual activation at the engine room access and the pilothouse. The system was recently serviced.

Fire Pump / Fire Stations

High capacity fire pump (and backup general service pump) with fire stations in the engine room and on deck.

E/R CO2 System


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Emergency Shutoffs for Fuel System & E/R Vents

Emergency remote shutoffs fitted in compliance with in compliance with Class Regulations.

8.3 COLLISION & GROUNDING AVOIDANCE

Navigation Lights

Properly fitted and working navigation lights with MIT navigation light panel in the pilothouse (backup lights and circuits for redundancy).

The navigation light system has been renewed since construction (fitted to modern standards).

Fog - Signal Horn

High capacity air horn mounted on the pilothouse roof.

Windlass - Anchor System

Swann 369-MK2 hydraulic windlass (5,500 lb. line pull).

The windlass was in functional condition and is used on a periodic basis (full drum of chain and cable rode - last inspected in 2015).

Suitably sized anchor in the hawser.

AIS (Automatic Ship Identification System)

AIS system fitted.

8.4 MISCELLANEOUS

Emergency Lighting

Separate AC systems (ample redundancy).

Backup emergency 32-volt lights in all necessary compartments in the event of a ship wide AC system failure.

Roof Mounted Emergency Battery Bank

A dedicated 12-volt battery bank for backup emergency communications and GPS’s (for positioning) was mounted on the pilothouse roof (batteries were recently replaced).

Mandatory Emergency Communications Equipment

2 Portable emergency VHF’s were mounted in readily accessible locations in the pilothouse.

VHF with DSC emergency distress and GMDSS radio onboard.

Hydraulic Windlass & Anchor

Emergency Battery Bank


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Emergency Escape Hatches

Emergency escape hatch in storage room (accommodations forward) up to the boat deck. Emergency escape hatch in the shaft tunnel up to the work deck.

Emergency Steering System:

The top of the rudderstock was designed for manual emergency steering.

Most Recent Underwater Hull Maintenance

The underwater hull was cleaned (pressure washed) and painted (new antifouling) and the anodes were renewed in April 2017. The underwater hull has been painted annually throughout the years.

8.5 EMERGENCY LIFE SAVING EQUIPMENT

Life Raft

1995 DBC 16-man life raft with hydrostatic release.

The hydrostatic release expires in April 2018.

RECOMMENDATION n

The life raft certificate expired in January 2018.

Life Boat

The power skiff would serve as a capable life boat in an emergency situation.

E.P.I.R.B. / SART / Flares

The E.P.I.R.B. was not viewed. SART at the pilothouse access (valid expiry date). Full supply of approved marine emergency flares onboard with valid expiry dates.

Life Saving Equipment / Other Emergency Gear

Transport Canada approved life jackets and survival suits for all crewmembers.

Life rings (with heaving line and floating emergency light) mounted in readily accessible locations near the work deck.

Marine grade first aid kit onboard. An EEBD’s (emergency escape breathing device) was mounted on the wall in the mess area.

9.0 DRIVETRAIN / STEERING GEAR 9.1 DRIVETRAIN EQUIPMENT

Shafting / Shaft Couplings & Bearings (All New in 2008)

7 ¼” (184 mm) Stainless steel tailshaft (new in 2008).

Steel intermediate shaft.

Semi-split cast steel shaft couplings and roller bearings.

16-Man Life Raft


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Shaft Glands

Standard grease-lubricated bronze glands at the engine room aft bilge and stern gland.

Stern Tube / Cutlass Bearing

Standard stern tube and cutlass bearing installation (not viewed during the survey).

Condition / Maintenance

The drivetrain components have been specifically examined and serviced as necessary at 4-year intervals.

The last full inspection (tailshaft pulled out) was in 2013.

Propeller

5 Blade (84” RH x 68.76) propeller (new in 2009).

9.2 STEERING & RUDDER GEAR

Steering Gear

Heavy-duty Wagner T-18 steering gear.

Capable well installed steering gear (significant overhaul in 2013).

Rudder Gear

Grease lubricated rudder packing Gland (watertight) on a suitably sized rudderstock.

The gland was watertight and well maintained.

The rudder gland and the pintle and bearings were specifically examined (disassembled and serviced as necessary) in 2014.

Shaft Tunnel (Forward Section)

Wagner Steering Gear / Rudder Gland

Tailshaft & Stern Gland


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10.0 ACCOMMODATIONS / DOMESTIC SERVICES 10.1 ACCOMMODATIONS & PILOTHOUSE INTERIOR CONDITION & HUSBANDRY

The finish work was in good condition throughout with no significant wear and tear (all refurbished and new galley cabinets since construction). The crew cabins were spacious with lockers, bench seats and sinks. The Captain’s cabin had a writing desk as well.

Overall husbandry (housekeeping) was in good standing. All areas were clean and presentable.

10.2 HEATING SYSTEM

Electric heaters were fitted in the pilothouse, accommodation spaces and all work spaces.

10.3 BUNKS

Captain’s cabin (1 bunk) forward of the pilothouse.

2 x 2-bunk crew cabins.

4-Bunk crew cabin.

Captain’s Cabin

4-Bunk Cabin 2-Bunk Cabin (1 of 2)

Captain’s Washroom Common Washroom


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10.4 GALLEY APPLIANCES

All modern appliances in good condition.

No propane gas or appliances onboard.

10.5 WASHROOM

Full service captain’s washroom and common washroom.

New toilets with macerator pumping system in 2014.

10.6 FRESHWATER SYSTEM

Freshwater Tanks

2 Freshwater tanks forward (capacity approx. 4,800 US gallons / 18,169 litres).

Both tanks were recently inspected (internally) in compliance with class requirements. A new top was fitted on the aft tank in 2015.

System Components

Marine grade pump, pressure tank and hot water heater (in good condition - all recent models).

Galley (Quality Hardwood Cabinets)

Galley / Mess Area


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11.0 PILOTHOUSE / ELECTRONIC EQUIPMENT 11.1 EQUIPMENT LIST & DESCRIPTION

Compasses (3) Furuno satellite compass / Sperry SR-110 gyro compass

Magnetic steering compass

Radars (3) Koden MRO-105 (custom display - 12 kW - 6 ft. scanner)

Furuno NavNet (10” display with 4 ft. scanner)

Koden (10” display with 4 ft. scanner)

Sounders (4) Furuno FCV-1150 / Koden CVS-1410

Simrad science documentation sounder / WASSP

Sonars (4) MAQ - 22 khz / MAQ - 90 kHz

Furuno CH-36 - 160 kHz / Furuno Omni 55 kHz

Plotters (3) Olex computer plotter (with A.I.S. overlay) / Hondex 7502

Desktop PC with Nobeltec charting software

Radios (11) 7 VHF (+ 2 handhelds) / 1 GMDSS radio / 1 SSB radio

GPS’s (3) Furuno / Satellite compass / GPS built in Hondex plotter

Autopilot Simrad AP-60 (helm stations port and starboard)

Satellite Phone Iridium

Other Items

Simrad P130 seine monitoring system (with transducers). SeaTel satellite TV system.

JRC Navtex. Loud hailer. Watch alarm. Taiyo DF. Qualcomm black-box. AIS.

Seastar GPS Bluetooth system. Miscellaneous other. 11.2 GENERAL COMMENTS

“MARGARET ELIZABETH No.1” has a state-of-the-art modern electronics package that has been upgraded on an near annual basis.

New additions in 2017 included the Koden 12 kW radar, MAQ 90 kHz sonar and Koden sounder.

With the exception the WASSP sounder, which was out of service, all items were in working order.


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Helm Area / Electronic Equipment

Pilothouse Overview


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12.0 POWERTRAIN / BOW THRUSTER 12.1 MAIN ENGINE PARTICULARS

Make - Model Caterpillar 3512

Yr. Built / Installed 2008 Serial No. S2N00124

Output 1,500 HP @ 1200 rpm

Engine Hours 19,308

Cooling System 2 Grid coolers.

Engine Controls Kobelt air-electric (2 stations)

Alarm System Caterpillar engine alarm system.

E/R Ventilation Engine room blower system.

Exhaust System Dry exhaust system well supported and lagged (new system with the engine in 2008).

Engine ID Tag / Hours

Engine Room Forward View


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Lube Oil Storage Tanks

2 Lube oil deep storage tanks aft the engine room on the portside.

2 x 240 US gallons / 908 Litres 12.2 ENGINE CONDITION / SERVICE HISTORY

The engine was installed new in 2008 and has been well maintained (annual service by Caterpillar mechanics and periodic oil and coolant samples analysis). The engine was clean, rust free and in good working order.

12.3 ENGINE ROOM HUSBANDRY

Engine room husbandry (housecleaning) was in good standing (clean and presentable).

12.4 MARINE GEAR PARTICULARS

Make - Model / Year Built

Reintjes WAF-763 / 2008

Serial No. / Gear Ratio

72250 / 4.037:1

Compatibility with Main Engine

The marine gear was adequately sized for the main engine horsepower.

Caterpillar 3512 Main Engine

Reintjes Marine Gear


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Condition / Maintenance History

The marine gear was well installed and maintained with annual oil changes (reportedly trouble free since installation).

12.5 BOW THRUSTER

Hydraulically powered bow thruster (125 HP) installed at the forefoot (in good working order - control stations in pilothouse port and starboard sides).

13.0 FUEL SYSTEM 13.1 FUEL SYSTEM - SURVEY LIMITATIONS

The following evaluation was based upon a visual examination of the fuel tanks and the other system components where readily accessible and exposed. The tanks were not viewed internally during the survey.

13.2 FUEL TANKS PARTICULARS

Tank Locations

2 Deep tanks in the engine room (port / starboard).

2 Wing tanks in the stern quarters (port / starboard).

4 Fuel Tanks Total Capacity (Approx.)

18,000 US gallons / 68,137 Litres

The 4 tanks are approx. the same size.

Est. Diesel Fuel Onboard (As Reported)

4,800 US. gallons / 18,169 litres

The quantity was not verified, and the fuel was not tested for quality or grade.

Inboard Plating Portside Aft Fuel Tank

Tank Plan Profile

Fwd. Fuel Tank Portside

Fwd. Fuel Tank Starboard Side Aft Fuel Tank

Aft Fuel Tank


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Fuel Tanks Mandatory Class Inspections

The tanks have been internally inspected in compliance with Class Requirements on a periodic basis. The most recent inspections were as follows:

Aft tanks - 2013. Forward tanks - 2015. No objections were noted.

13.3 FUEL SYSTEM COMPONENTS

The fuel system was fitted with marine grade fuel lines, fittings and tank shutoffs (including remote emergency shutoffs).

The fuel transfer system can transfer fuel among any of the 4 tanks.

Racor water separators were fitted for all engines.

14.0 ELECTRICAL SYSTEM 14.1 ELECTRICAL SYSTEM - SURVEY LIMITATIONS

The following evaluation was based upon a visual examination of the exposed wiring and other electrical system components. The system was not meggar tested. A more comprehensive analysis is beyond the scope of this report.

The last Transport Canada / Lloyd’s Register meggar test was completed in 2017. 14.2 GEN-SET No. 1 (E/R PORTSIDE)

Engine Make / Year Built

Caterpillar 3306 / 1999 (approx.)

HP / Serial No.

275 HP @ 1800 rpm / 85Z14963

Hours of Use

59,420

Cooling / Exhaust System

Grid cooler / Dry exhaust system

Generator Particulars

60 Hz - 120/208 Volts AC / 125 kW

Gen-set No. 1

Fuel Transfer System / Racors


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Secondary Hydraulics

Hydraulic pumps on the front of the engine power the refrigeration system and the bow thruster.

Condition / Service History

RECOMMENDATION n

The gen-set engine was in functional condition, but is worn from use and is in need of an overhaul.

The generator has been refurbished within a reasonable time period and was in good condition.

14.3 GEN-SET NO 2

Full backup generator on the Caterpillar 3406 aux. engine (125 kW - full backup). 14.4 CHARGING ENGINE

1971 Lister 1 cylinder diesel - manual start (charges the 32 volt batteries - emergency use only).

14.5 VOLTAGE SYSTEMS

120 / 208 Volts AC

2 Generators

115 Volts AC (Inverters)

Multiple inverters for certain electronics.

32 Volts DC

4 x 8 Volt deep case marine batteries.

24 Volts DC / 12 Volts DC

2 x 12 Volt large case marine batteries (main engine bank).

Emergency 12-volt battery bank (pilothouse roof). Multiple converters (for certain electronics).

Shore-Power System

100 amp. 4-wire system (3 hots and neutral). The system is integrated with a LeMarche Constavolt to charge the batteries and provide AC power at the wharf. Suitable marine grade shore-power cord onboard.

14.6 MAIN DISTRIBUTION / SWITCHING

Transport Canada / Lloyd’s register approved AC main switchboard and AC and DC distribution panels and subpanels with labelled circuit breakers and main breakers as necessary. Miscellaneous other switching and sub-systems.

AC Main Switchboard / 32- Volt Batteries / Lister


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14.7 BATTERY BANKS INSTALLATION

The batteries were well secured in suitable battery boxes with covers as necessary. 14.8 GENERAL COMMENTS

Complete Rewire / Condition

Following a flooding incident in 1992, the engine room was stripped bare and all wiring, main and sub panels and other electrical equipment and items were renewed. The rewire extended from the engine room to the pilothouse (no junction boxes were used).

In keeping with the limitations outlined in 14.1, there were no significant apparent problems.

15.0 BILGE & FIRE PUMPS / THRU-HULL FITTINGS 15.1 GENERAL SERVICE PUMPS

Type of Pumps

2 x 3” Centrifugal general service pumps (recent models).

Bilge Pumps

Both pumps are plumbed to a common manifold with bilges suctions routed to the following compartments:

- Engine room.

- Shaft tunnel (includes tiller flat).

Fire Pumps

Either general service pump could serve as an emergency fire pump (fire stations in the engine room and on deck).

15.2 BACKUP BILGE PUMP

One of the 4” brine pumps (fish pump) has a suction for the engine room bilge (for emergency use).

15.3 BILGE PUMPING CAPACITY

The bilge pumping system had suitable capacity for both everyday use and emergency use.

General Service Pump (1 of 2)


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15.4 THRU-HULL FITTINGS / SONAR TUBES

Thru-Hull Fittings

The thru hull fittings were not specifically examined during the survey.

The storm valves and sea connections were last inspected in 2015 (disassembled and serviced as necessary).

Sonar Tubes

The 5 sonar tubes were not specifically examined during the survey (4 tubes used with 1 spare).

The tubes have been repaired and upgraded through the years as necessary (3 tubes are stainless steel).

16.0 POWER SKIFF INSPECTION 16.1 INSPECTION LIMITATIONS

The power skiff was launched and was examined afloat.

The main engine was operated, but the skiff was not sea-trialed.

16.2 DESCRIPTION / DIMENSIONS

Aluminum built power skiff built in the mid-1980’s.

Engine room forward and pilothouse aft with cockpit.

Approx. Dimensions

Length 8.5 meters / 28.0 feet

Breadth 3.6 meters / 12.0 feet 16.3 PROPULSION

Mid-1980’s Caterpillar 3306 / 315 HP

Twin Disc marine gear.

Aluminium Power Skiff

Sonar Tube Installations (5)


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The engine was in average visual condition - it started right off from cold and ran fine. No major problems or rebuilds reported. The radiator cap was off for maintenance at the time of the survey.

The marine gear was functional (rust covered outer case). 16.4 DRIVETRAIN

The drivetrain components were in functional condition (standard tailshaft installation with stern gland, propeller with protective cage and rudder with skeg).

16.5 OTHER SYSTEMS The other onboard systems (electrical, fuel, steering) were in average / functional condition.

16.6 GENERAL COMMENTS (SUMMARY)

Older well used power skiff - functional and in average condition.

Engine Compartment / Caterpillar 3306

Cockpit Aft Pilothouse


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17.1 MAINTENANCE ISSUES (STEELWORK)

Lower Bilge Areas

The hard to reach steelwork in the lower bilge areas was rust covered (sandblast and paint where possible).

Aft Bulwark

There was significant rust staining along the aft bulwark under the roller on the starboard side (sandblast and paint).

Fish Hold Coamings

The steel work along the tops of the fish hold coamings were need of general maintenance (sandblast and paint).

17.2 SUGGESTIONS

RSW System

The RSW system would require upgrades for effective use in warmer waters (i.e. a larger condenser at the least).

Fish Hold Hatch Covers

The heavy aluminum hatch covers over the raised hold coamings are cumbersome

and should be replaced with new lightweight aluminium hatches.

18.1 LIFE RAFT CERTIFICATION

The life raft certificate expired in January 2018.

The hydrostatic release expires in April 2018. 18.2 NO. 1 GEN-SET

The engine for the no. 1 gen-set was in functional condition, but is worn from excessive use and is need of an overhaul.

18.0 RECOMMENDATIONS (SUMMARY)

17.0 MAINTENANCE ISSUES / SUGGESTIONS (SUMMARY)


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19.1 GENERAL COMMENTS

“MARGARET ELIZABETH No. 1” is a well built and maintained older herring seiner with complex onboard systems. Such a vessel cannot be summarized in a few words and readers are therefore encouraged to read through all sections of the report.

The following lists outline the notable strengths and weaknesses of the vessel:

Strengths

- Capable herring seiner with a longstanding track record as a highline producer. Family owned and operated since construction (same chief engineer for over 35 years).

- Heavily built steel hull with a recent positive ultrasound of the underwater hull plating.

- Hull structure and decks notably well maintained through annual drydock refits (including 2017).

- Repower with new capable powertrain in 2008 ($900,000.00 approx. refit).

- All onboard systems in functional condition with numerous upgrades through the years.

- Capable hydraulic system with full backup - complex system, but fitted modern components and easy to source parts.

- Major rewire of the electrical system to modern standards in 1992.

- 325 Tons fish hold capacity with RSW system. Fish hold linings well maintained.

- Ample fuel capacity for offshore use.

- Complete modern electronics package with high quality sonars ($100,000.00+ upgrades in 2017).

Weaknesses

- Fish hold fish pumps functional, but worn and should be replaced.

- The RSW system would have to be upgraded for use in warmer waters.

- Some original steel piping / plumbing in the bilge areas (condition unascertained).

- Lower interior bilge areas (engine room and shaft tunnel) should be sandblasted and painted where accessible.

- Aging power skiff.

19.0 SURVEYOR’S COMMENTS


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20.1 FAIR MARKET VALUE

“Fair Market Value” is the resale value that should be realized taking into consideration replacement cost, historical depreciation curves over time, upgrades, current market demand and overall condition.

Fair Market Value of “MARGARET ELIZABETH No. 1”

Fair Market Value $2,200,000.00 Can. Funds

Effective Date: March 24, 2018

Considerations

The above valuation assumes the vessel is fully rigged for herring seining with all of the items documented in this survey.

Items Not Included

The above valuation does not include the diesel fuel that was in the fuel tanks.

The above valuation does not include the seine that was onboard. 20.2 ECONOMIC LIFESPAN FOR BANKING PURPOSES

Based upon the findings of this survey and assuming that satisfactory maintenance practices are adhered to and assuming only normal wear and tear has occurred, the economic lifespan of “MARGARET ELIZABETH No. 1” should exceed 15 years from the date of this report.

20.3 ESTIMATED REPLACEMENT COST

New vessel replacement cost, similarly sized, constructed and outfitted to the same high standard at a reputable Canadian East Coast shipyard, would exceed $10,000,000.00. The undersigned surveyor warrants that this survey is a true and unbiased opinion of the condition and “Fair Market Value” of “MARGARET ELIZABETH No.1” at the time it was inspected. Defects not readily visible and not reasonably accessible to inspection or discovery without removal of structure, sheathing, liners, joinery, fittings, tanks, machinery and equipment are not and cannot be covered by this report. No warranties are expressed or implied with the report, and the acceptance of it recognizes this agreement between all parties concerned.

Respectfully Submitted,

Jameson Theriault - Marine Surveys

Certified Marine Surveyor (IIMS 00-0184) / BSc

P.O. Box 1330, Digby, NS Canada B0V 1A0

Phone No: 902.245.5652

Email: [email protected]

Jameson Theriault

00-0184

20.0 VALUATION / ECONOMIC LIFESPAN


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21.0 ATTACHMENTS

21.1 “MARGARET ELIZABETH No. 1”

TRANSPORT CANADA - LLOYD’S REGISTER CERTIFICATE


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21.2 FISH HOLD PHOTOGRAPHS

Forward Hold Hatch Coamings

Forward Hold Starboard Side


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Forward Hold Portside

Aft Hold Hatch Coamings


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Forward Aft Hold Portside

Forward Aft Hold Starboard Side


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Aft Hold Starboard Side

Aft Hold Portside


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21.3 HULL PHOTOGRAPHS FROM OUR 2014 INSURANCE SURVEY

Drydock Refit in 2014


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21.3 UNDERWATER HULL PHOTOGRAPHS FROM OUR 2014 INSURANCE SURVEY

Underwater Hull - Starboard Side / Portside

Documents

J A M E S O N T H E R I A U L T - timarine.comtimarine.com/Margaret_Elizabeth_No1.pdf · 2008 Repower with new Caterpillar 3512 main engine and Reintjes marine gear) ($900,000.00