The business case needed to be proven and the shipyard optimised for the market conditions. FMI employed in-house databases, combined with data on regional vessel movements, to assess potential repair demand within the catchment of the proposed facility.
To estimate how demand is likely to change in the future we used proprietary research on vessel docking intervals, industry trends and market growth. We analysed the competitive environment to evaluate the balance between demand for repair and the competing shipyards to undertake it. We were then able to estimate throughput, product mix and facility revenue using in-house data on repair bill values and research on market capture characteristics at internationally competitive ship repair facilities.
This provided our client with the information required to prove the business case and to optimise the size of the docks and other facilities to maximise revenue and return.