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Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Wilhelmsen Ship Management Business Area Strategy 2011-2015 June 11th, 2010
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Title - Sub title
Marine Money London Ship Finance Forum – 28th Jan 2015 Top 5 Technical considerations for Shipping Investor
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Top 5 Technical Considerations for Shipping Investor
Maintenance philosophy Dry docking Transparency
KPIs imposed to ship managers Training for competent personnel
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Maintenance philosophy
Maintenance philosophy can greatly influence the total cost of ownership and reliability throughout a vessel lifecycle :
3 Typical kinds of maintenance philosophy :
• Breakdown Maintenance : Run to failure maintenance (Not commonly
practiced in Shipping) • Planned Maintenance : Fix it before it breaks / Preventive Maintenance • Condition Based Maintenance : If it ain’t broke, don’t fix it / Predictive
Maintenance
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Maintenance philosophy vs failure rate
Breakdown Maintenance
Planned Maintenance
Condition based maintenance
FAIL
UR
E R
ATE
CHANGE IN MAINTENANCE PHILOSOPHY
Source : Ship Repair and Refit Conference – Aug 2014
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Centralized planned maintenance system (PMS)
Best Practices in maintenance philosophy
Establish a PMS that is the central communication platform that connects all stakeholder onboard and on shore • All technical matters and task are recorded in
the system • Fully integrated with other support services
on-shore such as procurement and quality & safety
Following conditional based maintenance approaches become more wide spread among technical managers in ship management companies • Conditional based maintenance in large
industry pilot projects have proven the advantages of the concept
• Benefits do not so much lie in saving maintenance work, but more in reducing defects, especially defects stemming from badly executed maintenance
Customize your PMS to include some conditional based maintenance approaches
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Influencing vessel ownership cost D
evel
opm
ent /
En
gine
erin
g Operations Recycling
Year 0 Year 5 Year 20 Year 15 Year 10 Year 25 Time • Possibility to influence on vessel ownership cost and lifecycle surges at every intermediate (every 2.5 years)
and special ( every 5 years) survey (dry dock) • It is important to ensure docking objectives are met when vessels undergoes dry dock
- 02 Years
-01 Year 25 Years
Con
stru
ctio
ns
Possibility to influence on vessel ownership cost and lifecycle
Intermediate Survey
Special Survey
Source : WSM drydock team analysis, 2014
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Best practices in dry docking
Deployment of a dedicated team to ensure ship owner’s interest are protected and represented throughout the entire docking process : Ensure all dry dock objectives are met
Ensure dry dock is executed within budget and in a most cost efficient way
Project management documentation and audit trails
Vessel reliability improved
Returns from Owner’s investment in docking is maximized
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Vessel lifecycle cost analysis – Total cost of ownership
Tota
l Cos
t of v
esse
l ow
ners
hip Dev
elop
men
t /
Engi
neer
ing
Operations Recycling
Year 0 Year 5 Year 20 Year 15 Year 10 Year 25 Time
- 02 Years
-01 Year 25 Years
Con
stru
ctio
ns
40%
Owners pay HIGHER total cost of ownership : • Poor repair and maintenance management • Dry docks are not well managed
100%
Owners pay LOWER total cost of ownership : • Good repair and maintenance management • Dry docks are well managed
100%
Source : WSM drydock team analysis, 2014
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Transparency
It is important that ship owner have complete visibility and knowledge of vessel financials and operations Accurate and timely financial records are
accessible at all times Savings achieved by bulk purchasing
from third party ship owners are fully realized
Accessibility to technical and shipboard
management condition
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Best practice : Preparation and tracking of operating budget
WSM practices below : • VM initiates budgeting process 3 months in advance and seeks inputs from vessel
• VM finalizes budget with FM prior sending to Owner
• VM monitors budget at each order placement and on monthly basis
• VM discusses budget performance with FM during weekly meetings
• Any unplanned expenditure is discussed with FM prior proposing to Owner
*VM = Vessel Manager/Superindentent *FM = Fleet Manager
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
KPIs imposed to ship managers
KPIs imposed to ship managers as an incentive to ensure vessels are well operated and minimal budget deviation WSM practices below :
KPI’s - 10 % - 5 % +/- 0 + 10 % + 15 %
Number of Offhire Events per vessel 2 - 1 - 0
Vessel individual OPEX deviation
+/- 6% and above +/- 3% to 6% +/- 2% to 3% +/-1% to 2% +/-1%
Lost Time Injuries per vessel 1 - - - 0
Port state control deficiency ratio per vessel
Detention 1,5 1,0 0,5 0,0
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Online access : Salesforce WSM’s customer portal through Salesforce, an interactive web based interface that allows customer to view financial reports and vessel performance
Best practice : Owner’s accessibility to KPIs and financial reporting
Financial data – updated every 2 hours Vessel Performance data – updated weekly
Drill down functionality until invoice level
Drill down functionality until individual vessel
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Training for competent personnel
WSM’s recommends that training matrix should be subject to continuous improvement based on : • Feedback from shipboard management review • Authority requirements
- Flag state - Port states - Classification societies
• Market requirements
• Vessel budget
• Customer’s specific requirements
Part of Wilhelmsen Maritime Services, a Wilh. Wilhelmsen group company
Best practice : Effective performance appraisal system
The performance appraisal system for WSM seafarers is designed to be a continuous evaluation process Appraisal session is conducted after the end of each seafarer tenure
Stakeholders involved in the appraisal process : • Shipboard management • Onshore organization • Crew
Objective of appraisal : • Monitor individual performance • Identify areas for improvement and
assess training needs • Provide constructive feedback on
personal performance and the • Opportunity for further improvement • Assist career planning • Enhance overall shipboard efficiency • Leadership development for officers
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