Dry-Docking In China: Controlling your costs

A recent client contacted Idwal Marine regarding the cost of Dry Docking a Panamax bulk carrier in China. He had received quotes through his Technical Managers from 3 different yards that varied considerably; $570K, $594K and $647K. All 3 yards quoted a 20 day time frame for repairs.

The owner was worried that he would face high unforeseen costs as he had another vessel Dry-Docked at the same time through the same Technical Managers and costs were growing completely out of hand. Concerned, he contacted Idwal Marine.

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Our review of the specification showed the specification was poorly written and after we inspected the vessel, re-wrote the specification and advised the owner to contact a different yard, the revised quote was just $337K and only 12 days for repairs; a difference of 41% in cost and 40% in time.

Our superintendent oversaw the work carried out at the yard by the technical managers and the vessel completed the dry-docking, as projected, in 12 days. Furthermore, a draft invoice was presented by the yard for $275K and was negotiated down to $238K.

Numbers guaranteed to impress marine investors.

This provided savings of circa 60% in cost and 40% in time over the original quotations produced by the technical managers.

This is just one example of how Idwal Marine’s superior technical knowledge, superb industry connections and on-site project management can save our clients huge amounts of time and money.

Andy Taylor