1. Client Overview:
The client is a leading shipping company in India, with a market-leading presence in traditional shipping. They desired to diversify into high-value offshore supply vessels quickly.
The client faced supply-side issues such as the unavailability of shipbuilding yards, equipment lead time, and very high equipment costs due to the monopolistic practices of larger OEMs. They required the incorporation of the latest designs to create 14 new ships.
IAM brought together industry-leading ship designers, equipment suppliers, and shipyards to create a comprehensive solution. IAM engineers interfaced the sophisticated diesel-electric ships' equipment, allowing the designer and equipment contracts to be novated to the shipyards. IAM integrated the equipment through different sources, achieving cost savings of USD 700K to USD 5million per ship. The total cost of the 14 ships was approximately USD 500 million, with the equipment cost exceeding USD 100 million.