ASA’s Marine Asset Appraisal Class, ME208 was taught on January 19-21, 2015 in Moscow, Russia. Thirteen students at the KPMG training center facilities attended. The students were all KPMG in house appraisers, almost all with engineering degrees. The KPMG offices are in the new Moscow business area surrounded by high-rise office buildings with stunning architecture.
Topics discussed over the three days included marine asset appraisal methodology, basics of marine terminology, the field inspection process, and three approaches to value in the marine industry and appraisal problems. The course covered both commercial vessels and yachts. As there is a very small yacht presence in the Russian Federation, and KPMG’s interest is mainly in businesses and plant and machinery; extra time was spent on commercial vessels. While the Moskva River was outside the class window it is not in commercial use and a field trip could not be arranged. An extensive photograph slide show allowed the class to see various types of vessels in use all over the world and the commonalities and differences in design and utility was noted as very important when doing the Cost and the Comparable Sales approaches.
ME208 was developed and instructed by Norman F. Laskay, ASA. And the course is held annually in locations around the nation including port cities of Baltimore, Long Beach, New Orleans and San Francisco, and internationally in Melbourne, Australia and now in Moscow, Russia; and often includes a tour of a local vessel for an up-close identification of marine machinery and equipment. View a video sneak peek of the course in action.
In addition to being the course instructor, Mr. Laskay, a designated member of the Society for more than 25 years, is a veteran marine appraiser/surveyor and of council for Metairie, LA based Dufour, Laskay & Strouse, Inc. and a frequent presenter at industry conferences, including the upcoming 9th International Conference on the Valuation of Plant, Machinery and Equipment to be held October 26-28, 2015 in Toyko, Japan, where he will be speaking on the factors in choosing replacement cost or comparable sales in valuing marine assets.