Refinance • Hold • Sell Now • Owner Value • Opportunity-Cost IRR • Cash-Out • Debt Service • DSCR • Exit Equity • Sensitivity

Ship Refinance vs Hold vs Sell Decision Tool

Compare three owner decisions from today forward. Sell Now converts the vessel into immediate net equity. Hold values future vessel cash flow and sale proceeds under the existing debt. Refinance replaces the existing debt, captures any cash-out or cash-in at closing, and values the future ownership cash flows under the new facility.

Currency Figures represent
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Simple keeps the comparison to 10 inputs. For a like-for-like screen, Simple applies the current remaining amortization period to the refinance and assumes both debt paths are evaluated over the entered hold period. Refinance fees and separate loan tenors are available in Advanced.
Sell nowImmediate net equity
HoldFuture owner cash flow
RefinanceCash-out + new debt economics

Owner Decision Snapshot

Million currency units.
Million.
Annual %.
Years.
Million/year before debt service and tax.
Years.
Million.
% of sale value, now and at future exit.
% of current vessel value.
Annual %. Simple uses current remaining amortization.

Current Vessel & Existing Debt

Million.
Million.
Years to maturity / balloon.
Million payable if existing debt is refinanced or sold today.

Operating Cash Flow During Hold

Choose a TCE-based ship operating model or enter direct annual cash flow before debt. The same operating assumptions are used for Hold and Refinance so the financing decision is isolated.

Currency/day.
Currency/day over 365 days.
Million/year.
Million/year.
%/year.
%/year.
Million/year after vessel operating costs, before major CAPEX and debt.
%/year.

Decision Horizon & Future Sale

Years.
Annual % used to convert future owner cash flows to value today.
Million, direct mode.
%/year, projected-value mode.
Million.
% of gross sale value, applied now and at exit.
Million. Optional legal, tax or settlement cash cost.
Million.
Used to flag current/refinanced debt coverage.

Refinance Structure

% of current vessel value, LTV mode.
Million, amount mode.
% of new debt.

Major Drydock / Retrofit CAPEX

Applied equally to Hold and Refinance, because the vessel still requires the same physical investment unless the transaction itself changes the plan.

UseYearCAPEX itemAmount (million)

Other Owner Cash Adjustments

Positive amounts are cash inflows; negative amounts are owner cash outflows. They apply to both ownership paths.

UseYearAdjustmentAmount (million +/-)

Decision Checks

Decision-model boundary: the tool compares modeled owner economics. It does not decide whether a vessel should be sold, refinanced or retained. Taxes, lender consent, swap breakage, sanctions, charter restrictions, class/technical condition, counterparty risk and strategic fleet considerations may materially change the real transaction.
Technical basis: ship finance includes refinancing existing debt as well as acquiring vessels; BIMCO SHIPTERM is designed for secured bilateral ship term-loan financing, while SALEFORM 2025 and SHIPSALE 22 cover ship sale-and-purchase mechanics. Because loan covenants, refinancing costs and vessel-sale economics are transaction-specific, this tool keeps those assumptions user-entered and compares the owner paths using forward cash flow and present value rather than sunk historical cost.
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By the ShipUniverse Editorial Team — About Us | Contact