13	Property, vessels and equipment

Property, vessels and equipment at December 31, 2017 and 2016 are summarized as follows:

	2017
	Net balances at year start		Additions		Disposals		Transfers and others				Depreciation /impairment			Net balances at year end		Estimated useful lives (years)

Vessels	$	8,028,276	$	99	$	2,113	$	(6,424,674	)	(a)	$	483,338	(b)	$	1,118,250		25
Shipyard		363		-		-		-				45			318		40
Major vessel maintenance		4,457		62,172		-		(1,266	)			52,755			12,608		2.5
Buildings and facilities		253,396		-		-		-				11,192			242,204	20and 25
Warehousing equipment		1,242		-		-		-				595			647		10
Computer equipment		794		272		-		-				510			556	3 and 4
Terminal equipment		3,319		425		-		4,118				977			6,885		10
Ground transportation equipment		4,203		508		-		1,247				2,207			3,751	4.5 and 10
Other equipment		9,556		226		-		(67	)			2,074			7,641
		8,305,606		63,702		2,113		(6,420,642	)			553,693			1,392,860
Land		1,060,661		-		41		148,807				25,000			1,184,427
Construction in progress		198,605		16,520		13,127		(155,750	)			-			46,248
	$	9,564,872	$	80,222	$	15,281	$	(6,427,585	)		$	578,693		$	2,623,535

	2016
	Net balances at year start		Additions		Disposals			Transfers and others				Depreciation /impairment			Net balances at year end		Estimated useful lives (years)

Vessels	$	8,131,363	$	7,835	$	-		$	357,027		(a)	$	467,949	(b)	$	8,028,276		25
Shipyard		423		-		-			-				60			363		40
Major vessel maintenance		53,547		9,021		-			(208	)			57,903			4,457		2.5
Buildings and facilities		186,937		11		4,531			80,593		(c)		9,614			253,396	20 and 25
Warehousing equipment		-		63		-			2,076				897			1,242		10
Computer equipment		552		254		-			465				477			794	3 and 4
Terminal equipment		4,120		488		-			6				1,295			3,319		10
Ground transportation equipment		5,506		1,734		915			290				2,412			4,203	4.5 and 10
Other equipment		13,330		419		-			467				4,660			9,556
		8,395,778		19,825		5,446			440,716				545,267			8,305,606
Land		880,620		-		81,568	(d)		261,609		(c)		-			1,060,661
Construction in progress		276,681		142,247		-			(220,323	)			-			198,605
	$	9,553,079	$	162,072	$	87,014		$	482,002			$	545,267		$	9,564,872

All the amounts for depreciation and for loss from revaluation are included as part of the depreciation, amortization and loss from revaluation on the consolidated statements of profit or loss.

The accumulated depreciation on property, vessels and equipment at December 31, 2017 and 2016 is $313,926 and $561,113, respectively. The decrease is basically due to the recognition of the fair value of the vessels; therefore, its accumulated depreciation was cancelled.

(a)

In 2017 is comprised primarily for revaluation surplus by $941,957 net of reduction for deconsolidation of TMM DM in a total of $7,445,415. In 2016 relates to revaluation surplus by $207,669 and the acquisition of the TMM Colima tugboat in December 2016.

(b)

Includes $56,213 loss from revaluation of two vessels in 2017 and $23,304 loss from revaluation of two vessels in 2016.

(c)

In 2016 is mainly comprised of the revaluation surplus of $ 216,965 net of other transfers.

(d)

It includes the sale of a real property to Optimus on June 20, 2016, with a gain for a total of $111,212. (see Note 22). The receivable derived from this sale will be capitalized as described in Note 14 below. This transaction is considered a non-cash flow transaction for purposes of presentation in the consolidated statements of cash flows.

If the cost model had been used, the revalued carrying amounts for vessels, land and properties at December 31, 2017 and 2016, would be as follows:

	2017		2016
Vessels	$	452,100	$	5,758,150
Lands		715,616		715,616
Properties		156,888		161,527
	$	1,324,604	$	6,635,293

The revalued amounts include a revaluation surplus of $1,220,277 and $2,707,040 in 2017 and 2016, respectively, before taxes, which is not available for distribution to stockholders.

Fair value measurement

See Note 28 regarding the measuring of fair value for vessels and properties.

Guarantees

At December 31, 2017 and 2016, 5 vessels are securing financial debt with DVB Bank America, NV and B.V. Scheepswerf Damen Gorinchem, as well as the financial lease with FTAI Subsea 88. At December 31, 2016, 31 vessels were securing the Trust Certificates offering. Likewise, there are 2 properties in 2017 (3 properties in 2016) securing various bank loans.