How do you assess the repair costs and salvage value of damaged containers?

3 Fire damage

Fire damage is the result of exposure to high temperatures or flames, which can be caused by accidents, negligence, or arson. It can cause charring, melting, or burning of the container materials, such as steel, wood, or plastic. Fire damage can destroy the structure, function, and appearance of containers, and create safety and environmental hazards. To prevent or avoid fire damage, you should follow the fire safety regulations and precautions, store and transport your containers in well-ventilated and secure areas, and inspect and monitor your containers regularly. To repair fire damage, you may need to remove or replace the burnt parts, clean or treat the smoke or soot residues, and restore or repaint the surface. The repair costs will depend on the degree and extent of the damage, the type and quality of the materials, and the complexity and duration of the repair.

4 Water damage

Water damage is the result of exposure to moisture or liquid, which can be caused by rain, snow, flood, or condensation. It can cause swelling, warping, rotting, or mold growth of the container materials, such as wood, fiberboard, or insulation. Water damage can affect the insulation, ventilation, and hygiene of containers, and damage or contaminate the cargo inside. To prevent or limit water damage, you should check and seal any gaps or cracks in your containers, use waterproof or moisture-resistant materials, and control the temperature and humidity levels inside your containers. To repair water damage, you may need to dry or dehumidify your containers, remove or replace the wet or rotten parts, and disinfect or deodorize your containers. The repair costs will vary depending on the source and amount of water, the type and condition of the materials, and the availability and effectiveness of the repair tools.

5 Salvage value

Salvage value is the estimated amount that you can recover from selling or disposing of your damaged containers. It depends on the type and age of your containers, the extent and type of damage, the market demand and supply of containers, and the cost and feasibility of repair. To calculate the salvage value, you can use the market value method which compares the current market price of similar containers in similar conditions. Alternatively, you can use the net scrap value method which subtracts the cost of dismantling and transporting your containers from the value of the scrap metal or materials that you can sell or recycle. You could also opt for the net realizable value method which subtracts the cost of repairing your containers from the expected selling price of your repaired containers. Online platforms, auctions, brokers, online sources, local dealers, scrap yards, online tools, quotes and estimates can all be used to find comparable containers and prices.