White Paper Will in Fle

significant time and coordination alternative refit scenarios. The engineer FOREWORD between the owner, captain, crew and can quantify the impact of changes on This document is intended to outline other parties. Owners’ wishes are of performance and operating costs as best practice and good governance course paramount, but captains’ and well as opine on [the] impact of the crews’ knowledge of a vessel’s needs changes to resale value. Requirements throughout the preparation, undertaking 1 and delivery of a major superyacht refit. cannot be overlooked.’ may be prioritised and segregated into phased plans over time to minimise The primary research for this docu- Service record for resale ment was undertaken through a series downtime and ensure maximum of open discussions at the 2018 edition Throughout a superyacht’s lifecycle, availability of the vessel for the owner’s of The Superyacht Captains’ Forum. In the myriad repairs, alterations and use. the following 12 months, The Superyacht amendments that are undertaken mean ‘If desired, engineers can act as Report collaborated with industry that a working vessel’s specification owner’s representative to manage the stakeholders to source written guidelines list rarely resembles the original. A refit project to provide quality control, on recognised best practice for the comprehensive and up-to-date service timeliness and compliance to plan and delivery of an optimised superyacht refit. record is imperative at all times of a cost estimates. Additionally, engineers The following is a curation of yacht’s operation. may be best qualified and able to assess THE SUPERYACHT instructional texts and internal guidance The following sections should be unforeseen discoveries or events which documents in the form of a Refit White kept in an attaché, which should be on may occur during execution of the plan, board as a living record: identify alternatives and control cost Paper which will be made publicly 4 available to the superyacht industry as a. Shipyard contacts, project managers, etc. overruns due to scope creep.’ part of an initiative to homogenise the b. Repair-time schedule from the yard or ‘It is important, along with technical quality of refitting across the market. other schedules. Old schedules to be kept management (the project manager) on The Superyacht Refit White Paper will in file. Most recent to be on top the owner’s team, and perhaps a marine engineering firm if needed, that the refit comprise three distinct sections: Pre- c. Estimates as sent to the owner. If project managers are considered part refit, The Refit Period and Delivery. modified due to additional work, most recent one to be on top of the team. Most of them have many d. Survey status/class and MCA issues years of experience or are qualified e. Specification naval architects and marine engineers PRE-REFIT f. Quotations yards themselves, and their expertise can Anecdotal evidence among stakeholders g. Repair contract ensure that smooth solutions are on both the client and vendor side h. Spares on order found. A good relationship between the REFIT suggests that because of the seasonal i. Other quotes and subcontractors shipyard and owner’s team certainly nature of yacht usage and the tendency j. Measurements, findings, reports and helps to understand the works at hand, of owners to station their vessels in documents 2 and starting to work together from the perceived yachting hubs, there are very beginning of the project simplifies WHITE PAPER bottlenecks in the timing and demand Team selection the whole procedure.’5 for superyacht refits. This often results Project Manager in major refits being requested at short ‘Most owners will be subject to differing Specification of works/worklist notice which can negatively affect both management styles, experience and The germination of a refit project is the the preparation for, and understanding qualifications of captains which with compilation of a comprehensive list of The Superyacht Report curates a of, the scope of such a project. rotation and natural wastage means required works, clearly defined by their In contrast, timely planning for a a yacht can have at least five captains scope, and categorised as such: spectrum of industry sources to superyacht’s maintenance schedule, and in under 10 years. To compensate for • Department (see below) any major works that will result from the this, one needs to achieve managerial • Priority – (1) must be completed, (2) im- outline best practice for every stage desire of the client to make significant consistency by the appointment of a portant, (3) to be addressed if possible etc. of a major superyacht refit. changes to their vessel, the purchase and professionally qualified and experienced • Responsibility – crew, shipyard, owner’s subsequent renovation of an existing refit manager who, combined with an direct contractor etc. vessel and works undertaken as part of effective survey, refit and refurbishment • Price – often best to use two columns; one the established class survey schedule will planning process, can save owners for budgetary cost, one for quoted amounts6 optimise the efficacy of the process itself significant costs compared with an The objective of all works should be as well as the budgeting of the works. unplanned and crew-managed process; clearly defined on an individual basis. ‘A successful refit project requires therefore, this should be viewed as a self- This will allow the selected shipyard substantial amounts of planning, time, financing operation.’3 to formulate a realistic and financially energy and resources. Regardless of the accurate project specification that meets reason for the refit, experienced owners, Marine engineering firm the budgetary expectations and timeline along with their captains and their ‘Naval architects and marine engineers of the client. management firms, know the details can provide a better understanding of The key elements for works that should of these projects are often complex. what will be involved in the project. be evaluated at this stage comprise: Detailed planning, communications Engineers can translate those desires • Hull and appendages and management of expectations to time and cost. They can identify • Superstructure is critical to successful completion. optimum solutions and quantify costs • Deck Defining the scope of a refit requires to maximise time and cost benefits of • Machinery Subscribe to The Superyacht Report by visiting: shop.thesuperyachtgroup.com/tsr193 1 • Electrical advanced technologies, it is likely that Refit vs new-build yards 1. Security. Ensure your shipyard choices 5. Deadline. Set a realistic timescale for • Navigation a certain number of specialist sub- ‘We think that this really depends on ‘Many build yards are legitimate businesses that fulfil the the chosen yards to quote for the works • AV/IT contractors will be required, such as the works that need doing. In fact, very following criteria to ensure your refit and visit the yacht where necessary. Too • Tenders and toys those required for state-of-the-art AV/IT often nowadays, the new-build yards in fact realise that will not end in disaster: short and it is most likely the quotes you • Paint systems. continue to give support and work with a) Liability Insurance: ensure there receive will be insufficiently detailed or • Hotel services 7 It is, therefore, imperative that the refit yards to give maximum assistance to refit is a different is sufficient level of shipyard liability inaccurate, and too long will leave you The parameters of any refit project required specialist subcontractors are their clients. This is because, while with insurance to cover any potential with less time to review their offers. should be based on compliance with contacted during the specification stage something like AV systems it could make accident. Ask your insurer what level class and flag requirements (see the in order to supply accurate pricing more sense to work with the original game altogether they require the shipyard to carry. Comparing shipyards table at the end of this article). It information. manufacturer, with structural altera- b) Turnover: ensure your potential It is essential that you make like-for-like would be prudent for the client’s team Contacting specialist contractors tions it may be the refit yard’s experience and put together yard choice is financially stable; this comparisons when you are looking at the to contact their registry – and society directly may negate the typical 15-30 per that makes them much more qualified will mean it should be able to cover any quotes from the different yards. When under which their vessel is classed – to cent premium that has been reported on to do the job. Many build yards in fact specific refitting warranty obligations in the future and, doing so consider the following: anticipate the effect that any proposed quotes when yards liaise directly with realise that refit is a different game even more importantly, stay in business 1. Go through each quote carefully, works may have on the compliance of the contractor. The mark-up covers a altogether and put together specific work teams until your refit is complete and the highlighting exclusions or any areas the vessel. This will allow potential number of services that the yard pro- refitting work teams because they vessel has left the yard. Most shipyards where the different yards do not seem problems or issues of non-compliance vides (safety documents, management appreciate that different expertise is will willingly disclose their turnover to be quoting like for like. If a yard has to be avoided. and coordination of risk assessment, required.’ 9 because they for the past few years and, if possible, not quoted in the manner in which you • Sufficient time should be allowed for responsibility on delivery, warranty, The location of the shipyard near to download their accounts, where would like, go back and ask it to modify quoting; rush quotes and fast ballpark quality etc.).

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