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Buy Back Vessels

MH
Mel Hodges
Fri, Nov 18, 2005 9:05 PM

So I've been browsing ship broker websites... not pleasure vessels,
but working boats.  And I see Buy Back Vessels - I'm assuming the
gov't bought the ship and the fishing license from the guy to reduce fishing?

Other than aesthetics - what's the catch in getting one of these
vessels and turning it into a PUP boat?  Probably a lot of systems
need to be replaced and rebuilt, but if you get into it cheap enough,
you gotta come out ahead?????

For example, less than $40,000 gets you a 51' steel hulled Ex-fishing
boat - http://www.dockstreetbrokers.com/listing_detail.php?id=127
what's stopping a guy from taking off in that to Fiji??

I dont know much about these boats, and I'm assuming there's LARGE
gotcha's involved... but for someone who doesnt care much for looks,
is not part of the Yacht Club crowd, and doesnt mind getting the
hands dirty and investing another 50k - 60k, this looks like a good
investment to me???

what am I missing?

Mel

So I've been browsing ship broker websites... not pleasure vessels, but working boats. And I see Buy Back Vessels - I'm assuming the gov't bought the ship and the fishing license from the guy to reduce fishing? Other than aesthetics - what's the catch in getting one of these vessels and turning it into a PUP boat? Probably a lot of systems need to be replaced and rebuilt, but if you get into it cheap enough, you gotta come out ahead????? For example, less than $40,000 gets you a 51' steel hulled Ex-fishing boat - http://www.dockstreetbrokers.com/listing_detail.php?id=127 what's stopping a guy from taking off in that to Fiji?? I dont know much about these boats, and I'm assuming there's LARGE gotcha's involved... but for someone who doesnt care much for looks, is not part of the Yacht Club crowd, and doesnt mind getting the hands dirty and investing another 50k - 60k, this looks like a good investment to me??? what am I missing? Mel
CI
CFE Inc.
Fri, Nov 18, 2005 10:15 PM

Mel

The following is a post I made to the list a while back in responce to a
similar question. Hope its Ok to relist on PUP.

Willy

Couple of things from My book < grin>

Lots of vessels came available when the Canadian government purchased

back licenses. However the good ones stayed in the fleet with existing
fishermen or those that chose to hold the course picking up the best vessels
available. Then most vessels left over got sold off to the pleasure industry
and some to the first nations guys. The license is the value not the work
boat that's been depreciated over the years.
I looked at 35 feet to 70 feet From Victoria to Port hardy and all
places in between from 1997 to 2001. Walk the docks talk to the commercial
guys who will bend your ear. They will know what is coming up before it gets
out to the "market ". Preferably when it is still being fished or patrolling
etc. They will most likely still have a CSI certificate be insured under a
current survey etc. That was my case.
Conversions ? I am four years into it with a few more to go all being
done by the Admiral and I. No secrets the cost will never be recovered
that's boating. But I will end up with what I want and full knowledge of all
systems on board ( only me in the mirror to blame <grin>). I only have 39
feet of boat.
Work boats have many concessions to consider before you convert them.
Remember there intended use was one of work not pleasure. Choosing a vessel
that will ballast correctly or be stable light can be a challenge and some
just simply will never be a good choice for those reasons. If you get a
vessel with sound hull , good machinery and tanks great but the big cost
will be all the other stuff. Some examples would be cabling 12 volt dc 120
ac , pluming , chargers , lights , fridge , stove , fuse panells ,
distribution pannels , man it goes on and on. Even on a 39 foot boat we are
talking of hundreds of feet of say 3 strand 10 AWG dbl insulated tined, one
small item. Nav equipment if on board will most likely need replacement.
They usually take off or trade before the boat came available if the
equipment on board was any good. 1200 galons fuel is great for distance but
maintaining the fuel and tanks might end up being  a problem.
Lots of  brokers appeared at the same time the license buy out started
and are X fishing guys. They had friends with boats to sell and wa-la
instant broker.  If you end up with one of these brokers try to get them out
of the picture, deal with the owner if at all possible. I have not much nice
to say about these guys and ya I tried ( BC ). I am sure there has to be
some good ones but I never ran into him. Use there web sites for market
Info/pricing that's it. If you have them involved then cut a deal on there
commission and get them out of the picture ( IMO).
As for the conversion, quality , extent , depends on the pocket book. As
in all boats the sky is the limit.
As for groups or organizations,  if you find one I might be interested. I
know there are a few on the list some with working expedition yachts. They
will most certanly have diferent stories than I.

Willy
Invader No1
39 Kishi Conversion

BC .or the  PNW

----- Original Message -----
From: "Mel Hodges" mel@melhodges.com
To: passagemaking-under-power@lists.samurai.com
Sent: Friday, November 18, 2005 1:05 PM
Subject: [PUP] Buy Back Vessels

So I've been browsing ship broker websites... not pleasure vessels,
but working boats.  And I see Buy Back Vessels - I'm assuming the
gov't bought the ship and the fishing license from the guy to reduce
fishing?

Other than aesthetics - what's the catch in getting one of these
vessels and turning it into a PUP boat?  Probably a lot of systems
need to be replaced and rebuilt, but if you get into it cheap enough,
you gotta come out ahead?????

For example, less than $40,000 gets you a 51' steel hulled Ex-fishing
boat - http://www.dockstreetbrokers.com/listing_detail.php?id=127
what's stopping a guy from taking off in that to Fiji??

I dont know much about these boats, and I'm assuming there's LARGE
gotcha's involved... but for someone who doesnt care much for looks,
is not part of the Yacht Club crowd, and doesnt mind getting the
hands dirty and investing another 50k - 60k, this looks like a good
investment to me???

what am I missing?

Mel


Passagemaking-Under-Power Mailing List

Mel The following is a post I made to the list a while back in responce to a similar question. Hope its Ok to relist on PUP. Willy Couple of things from My book < grin> Lots of vessels came available when the Canadian government purchased back licenses. However the good ones stayed in the fleet with existing fishermen or those that chose to hold the course picking up the best vessels available. Then most vessels left over got sold off to the pleasure industry and some to the first nations guys. The license is the value not the work boat that's been depreciated over the years. I looked at 35 feet to 70 feet From Victoria to Port hardy and all places in between from 1997 to 2001. Walk the docks talk to the commercial guys who will bend your ear. They will know what is coming up before it gets out to the "market ". Preferably when it is still being fished or patrolling etc. They will most likely still have a CSI certificate be insured under a current survey etc. That was my case. Conversions ? I am four years into it with a few more to go all being done by the Admiral and I. No secrets the cost will never be recovered that's boating. But I will end up with what I want and full knowledge of all systems on board ( only me in the mirror to blame <grin>). I only have 39 feet of boat. Work boats have many concessions to consider before you convert them. Remember there intended use was one of work not pleasure. Choosing a vessel that will ballast correctly or be stable light can be a challenge and some just simply will never be a good choice for those reasons. If you get a vessel with sound hull , good machinery and tanks great but the big cost will be all the other stuff. Some examples would be cabling 12 volt dc 120 ac , pluming , chargers , lights , fridge , stove , fuse panells , distribution pannels , man it goes on and on. Even on a 39 foot boat we are talking of hundreds of feet of say 3 strand 10 AWG dbl insulated tined, one small item. Nav equipment if on board will most likely need replacement. They usually take off or trade before the boat came available if the equipment on board was any good. 1200 galons fuel is great for distance but maintaining the fuel and tanks might end up being a problem. Lots of brokers appeared at the same time the license buy out started and are X fishing guys. They had friends with boats to sell and wa-la instant broker. If you end up with one of these brokers try to get them out of the picture, deal with the owner if at all possible. I have not much nice to say about these guys and ya I tried ( BC ). I am sure there has to be some good ones but I never ran into him. Use there web sites for market Info/pricing that's it. If you have them involved then cut a deal on there commission and get them out of the picture ( IMO). As for the conversion, quality , extent , depends on the pocket book. As in all boats the sky is the limit. As for groups or organizations, if you find one I might be interested. I know there are a few on the list some with working expedition yachts. They will most certanly have diferent stories than I. Willy Invader No1 39 Kishi Conversion BC .or the PNW ----- Original Message ----- From: "Mel Hodges" <mel@melhodges.com> To: <passagemaking-under-power@lists.samurai.com> Sent: Friday, November 18, 2005 1:05 PM Subject: [PUP] Buy Back Vessels > So I've been browsing ship broker websites... not pleasure vessels, > but working boats. And I see Buy Back Vessels - I'm assuming the > gov't bought the ship and the fishing license from the guy to reduce > fishing? > > Other than aesthetics - what's the catch in getting one of these > vessels and turning it into a PUP boat? Probably a lot of systems > need to be replaced and rebuilt, but if you get into it cheap enough, > you gotta come out ahead????? > > For example, less than $40,000 gets you a 51' steel hulled Ex-fishing > boat - http://www.dockstreetbrokers.com/listing_detail.php?id=127 > what's stopping a guy from taking off in that to Fiji?? > > I dont know much about these boats, and I'm assuming there's LARGE > gotcha's involved... but for someone who doesnt care much for looks, > is not part of the Yacht Club crowd, and doesnt mind getting the > hands dirty and investing another 50k - 60k, this looks like a good > investment to me??? > > > what am I missing? > > > > Mel > > > > > > _______________________________________________ > Passagemaking-Under-Power Mailing List
MM
Mike Maurice
Fri, Nov 18, 2005 10:27 PM

At 04:05 PM 11/18/2005 -0500, you wrote:

So I've been browsing ship broker websites... not pleasure vessels,
but working boats.  And I see Buy Back Vessels - I'm assuming the
gov't bought the ship and the fishing license from the guy to reduce fishing?

The government did not buy the ships. The gov lent the industry $40
million to be repaid over 30 years from a "tax" or contribution from
the remaining working boats. That works out to about $15k per year
per remaining boats(200).
The buyout boats can not be fished anywhere again in the US or
legally anywhere in the world. They can be put to other commercial
type uses. Carry freight, passengers, etc.

There is a 76' footer for sale with a brand new rebuilt engine, for
maybe $70k (maybe less)from I think the same broker. It may not be
listed yet. The conversions are not cheap and require a lot more time
and energy than appears up front. The 76 footer mentioned is one
where the new owner has decided not to finish the conversion.

Since, I have had something to do with the 76 footer, I could write
quite a long piece about the research and considerations that have
gone into the thinking about this sort of process. As someone once
said, there is much to be considered.

If there is any interest, I will see about writing up some material
to describe this.

Mike

Capt. Mike Maurice
Tualatin(Portland), Oregon

At 04:05 PM 11/18/2005 -0500, you wrote: >So I've been browsing ship broker websites... not pleasure vessels, >but working boats. And I see Buy Back Vessels - I'm assuming the >gov't bought the ship and the fishing license from the guy to reduce fishing? The government did not buy the ships. The gov lent the industry $40 million to be repaid over 30 years from a "tax" or contribution from the remaining working boats. That works out to about $15k per year per remaining boats(200). The buyout boats can not be fished anywhere again in the US or legally anywhere in the world. They can be put to other commercial type uses. Carry freight, passengers, etc. There is a 76' footer for sale with a brand new rebuilt engine, for maybe $70k (maybe less)from I think the same broker. It may not be listed yet. The conversions are not cheap and require a lot more time and energy than appears up front. The 76 footer mentioned is one where the new owner has decided not to finish the conversion. Since, I have had something to do with the 76 footer, I could write quite a long piece about the research and considerations that have gone into the thinking about this sort of process. As someone once said, there is much to be considered. If there is any interest, I will see about writing up some material to describe this. Mike Capt. Mike Maurice Tualatin(Portland), Oregon
E
elnav@uniserve.com
Fri, Nov 18, 2005 10:47 PM

Quoting Mike Maurice mikem@yachtsdelivered.com:

The buyout boats can not be fished anywhere again in the US or
legally anywhere in the world. They can be put to other commercial
type uses. Carry freight, passengers, etc.

The conversions are not cheap and require a lot more time
and energy than appears up front. The 76 footer mentioned is one
where the new owner has decided not to finish the conversion.

REPLY
One of the major considerations is the fact these boats probably do not ride
well light loaded in pleasuer boat form.

How many tons of inert ballast is required to bring the vessel down in trim to a
point they ride mroe comfortably in a seaway?

Several years ago the Swedish government sold of a lot of Search and rescue
boats.  Apaprently  ther was not a lot fo interest her in N. America due to the
fact these boats were equipped with 230V 50Hz electrical systems.
A friend of mine was actually looking seriously at one because I felt I could do
a sucessful conversion /modification  to suit his recreational boat needs.

Cheers

Arild

Quoting Mike Maurice <mikem@yachtsdelivered.com>: > The buyout boats can not be fished anywhere again in the US or > legally anywhere in the world. They can be put to other commercial > type uses. Carry freight, passengers, etc. > > The conversions are not cheap and require a lot more time > and energy than appears up front. The 76 footer mentioned is one > where the new owner has decided not to finish the conversion. REPLY One of the major considerations is the fact these boats probably do not ride well light loaded in pleasuer boat form. How many tons of inert ballast is required to bring the vessel down in trim to a point they ride mroe comfortably in a seaway? Several years ago the Swedish government sold of a lot of Search and rescue boats. Apaprently ther was not a lot fo interest her in N. America due to the fact these boats were equipped with 230V 50Hz electrical systems. A friend of mine was actually looking seriously at one because I felt I could do a sucessful conversion /modification to suit his recreational boat needs. Cheers Arild
RR
Ron Rogers
Fri, Nov 18, 2005 11:04 PM

From the photos, it appears that the interior of the hull is unprotected and

has no insulation. Having a 1971 hull means checking the hull plating
thickness. Parts of the boat are already habitable. This is a very low price
as it doesn't pay for the engine and generator.

Perhaps too good to be true? Safely ballasting her could be done after
tending to the hull interior with Corseal or similar.

Ron Rogers

>From the photos, it appears that the interior of the hull is unprotected and has no insulation. Having a 1971 hull means checking the hull plating thickness. Parts of the boat are already habitable. This is a very low price as it doesn't pay for the engine and generator. Perhaps too good to be true? Safely ballasting her could be done after tending to the hull interior with Corseal or similar. Ron Rogers