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TEL +31 10 413 4630
FAX +31 10 433 4624
EMAIL INFO@KAHN.NL
WWW.JUMBOSHIPPING.NL
POSTAL ADDRESS:
P.O. BOX 23016
3001 KA ROTTERDAM
THE NETHERLANDS
JUMBO SHIPPING VOF:
3, VAN VOLLENHOVENSTRAAT
3016 BE ROTTERDAM
THE NETHERLANDS
MV JUMBO JAVELIN J1
J - CLASS
Call sign : PHEG
IMO NO. : 9243837
Port of registry : Willemstad
Flag : Netherlands
: Lloyd’s Register +100 A1 Strengthened for heavy
cargoes +LMC , UMS, CG, LI, DP (AA), PCR, IWS;
With the note: “SCM”; Loading & unloading aground during
crane operations; with hatchcovers omitted draught
restricted to 7,5m
Built : 2004
Owner : Jumbo Javelin N.V.
Charterers : Kahn Special Transport B.V. Rotterdam
General agent : Kahn Scheepvaart B.V. Rotterdam
: Gard A.S., Arendal, Norway
Deadweight (summer) : 10942t (7.5m)/ 12922t (8.1m) all told
: 7.5m (open condition)/ 8.1m
Length o.a. : 144,21 m
Beam o.a. (hull) : 26.70 m
: 47,32 m
G.T. : 15022
N.T. : 4506
G.T. Suez Canal : 14672
N.T. Suez Canal : 10926
G.T. Panama :
N.T. Panama : 12592
: 1
: 1
: 18030 m3
: 3100 m2
Hold: dimensions lowerhold : 82,65 x 17,00 m
: 101.95 x 17.00 m
Hold: total height : 12,50 m
: 12,00 t/m2
: 7,00 t/m2
: 5x 8.7t/m2 and 3x 12t/m2
Cargo gear : 2 Cranes each 900 t / in combi 1800 t
Auxiliary hoist 2x 37,5 t (traveling trolley)
2x 10 t Slinghandling hoist
Main engine(s) : 2x MAN/B&W 9L 32/40 (8640 kW total)
Thruster(s) : DP System: Kongsberg Simrad SDP 21
Bow tunnel thruster : Wartsila C.P.P. CT200-M (1450 kW)
Bow tunnel thruster : Rolls Royce TT2400DPN-SS-CP (1450 kW)
: Wartsila FS225-240/MNR (1700 kW)
: 17,00 knots
: 1269 t I.F.O / 207 t M.G.O.
: 140,82 t
:
:
: 192 FEU in hold w/o tweendeck hatchcovers / 426 TEU
Beasley 164414 : Ships Construction Project MT 250 ! Page -1-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
Jumbo has taken delivery of two super heavy lift vessels and is currently building two more new-
generation super heavy lift vessels in response to the offshore industry's demand for a higher
lifting capability as well as a larger outreach and lifting height for offshore installations.
Designated as J-1600 Class (now J-1800 Class) ships. The first two ships in this class of 11,000
dead weight ton ships, was the Jumbo Javelin followed by the Jumbo Fairpartner. As of 2004 -
2008 they were the most powerful heavy lift cargo vessels in their class in the world. Their class
is the traditional heavy lift cargo ship, as opposed to a heavy lift submersible or heavy lift RO/
RO vessel. The Jumbo Javelin is now world famous as the star attraction in the 2008 version of
Ship Simulator published by the Dutch company VSTEP (www.shipsim.com or www.vstep.ln
Builder: Damen Shipyards, Galatz Romania
DAMEN SHIPYARDS GALATI
132 Moruzzi Street
800223 Galati, Romania
Phone+40 236 307 111 Fax +40 236 307 211
E-mail: office@damen.ro
The Damen Shipyard in Galati Romania was built on the Danube River in 1893. Since that time
they have manufactured over 1,100 ships. Between 1994 and 1999 the Dutch provided expertise
to the shipyard to modernize the facility. In 1999 a Dutch partnership purchased the shipyard.
The shipyard had a tremendous amount of renovation to make it competitive. The shipyard
builds a large variety and number of ships. Typically, Damen builds 200 ships a year of various
types and functions. In the typical year Damen builds only two heavy lift ships similar to the
Jumbo Javelin and Fairpartner.
	

 In the 1980’s and 1990’s the Dutch government became concerned about the decline in
Dutch registered / flagged / crewed ships. As such the Dutch government began funding or
underwriting ship building to restore the Dutch shipping fleet. Part of this strategy was the
purchase of the shipyard in Romania. This allowed Dutch ships to be built economically with
one dollar and hour East European labor. Since the shipyard is owned by a Dutch company the
yard is considered to be Dutch. This was a trick used by the American shipping magnate Daniel
Ludwig in the 1950’s and 1960’s. He purchased a Japanese shipyard to bypass laws against the
Japanese building ships. Ludwig claimed it was an American shipyard. Often times the builders
of the Jumbo Javelin and Jumbo Fairpartner are listed as Damen Shipyards Harinxveld or
Rotterdam. These ships are Dutch flagged and carry Dutch officers, although the crew is
Philippino. The goal of Damen Shipyards is to focus upon high tech vessels, research vessels and
mega-yachts. This will increase the competition for similar American built ships, typically the
mega-yachts. Damen has introduced a tightly structured mission statement. Quality control has
got to be a major challenge for the Dutch, as post communist Eastern European nations are not
known for their work ethic. I quote from the Damen website:
“Management System, and will apply the following principles to all activities to be performed:
	

 •	

 The Quality Management represents the first responsibility of management personnel;
	

 •	

 The activities should be carried out in fully accordance with the Quality Manual and
requirements concerning procedures applied to each activity;
Beasley 164414 : Ships Construction Project MT 250 ! Page -2-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
•	

 Training and involvement of personnel in order to achieve the quality objectives;
	

 •	

 The decisions at each level are taken only on the basis of data and facts;
	

 •	

 Firm connections with the traditional DSG’s suppliers;
	

 •	

 Environment protection and performance of activities in full security for DSG personnel.
We continuously control and upgrade our customer-focused process. The two most important
parameters to become "The preferred shipbuilder" are:
	

 •	

 To build confidence.
	

 •	

 To be price and costs competitive.”
Ship Class:
J- 1600. The 1600 relates to the lifting capacity of the two cranes on the deck. The newer ships in
this class are referred to as J-1800’s. There are now four of these ships which are in service or
under construction.
The Mission or Market Segment:
They were brought into service in the first quarter 2004. These eighth-generation Jumbo heavy
lift ships are designed to provide new heavy transport solutions for its core markets which
includes the oil and gas sector. Heavy lift ships typically handle power plants, petrochemical and
water treatment installations, transformers, generators, engines, cement plants, - both onshore
and offshore - and wind power generation industries. Recently, wind power has taken a priority
and Jumbo has installed an Ampelmann. Acording to the Ampelmann website “The Ampelmann
is a ship-based self stabilizing platform that actively compensates all vessel motions to make
offshore access safe, easy and fast.” Below is a drawing of a heavy lift cargo.
Beasley 164414 : Ships Construction Project MT 250 ! Page -3-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
Management Company:
The vessels will be managed by Jumbo;
3, Van Vollenhovenstratt
3016 BE Rotterdam
The Netherlands
PH 31, 10, 413, 4630 FX 31, 10, 433, 4624
Email info@kahn.nl
WWW.jumboshipping.nl
The Ships Agent:
Kahn Scheepvaart, Rotterdam.
Kahn Scheepvaart En Handelmij BV H G
Van Vollenhovenstraat 3 E78, 3016 BE Rotterdam, Netherlands
010 2014100 ‎
Insurance Agents and P & I Club:
GARD of Arendal, Norway - the GARD P&I-Club
The GARD website provides the following information:
	

 GARD insures 4600 vessels with a total tonnage of 87 million gross tons. GARD
is the second largest P&I club in the world. GARD represents all types of ships: “Large
tankers, cruise vessels, container vessels, LNG and LPG carriers, ferries, oil rigs,
FPSO's”. “The primary strategic goal of GARD is to provide protection, financial
stability and premium predictability for it's Members. As of the commencement of the
1997 insurance year, total funds exceeded USD 600 million, including a contingency
reserve in excess of USD 200 million -- all at market value.” “Typical liabilities covered
by the club are claims from damages to or shortages of cargo carried on board, injuries or
illness in respect of passengers or crew, collisions with quays, piers or other vessels and,
perhaps the financially most severe contingency - pollution of the environment by oil or
other products carried by the vessel.” GARD has agents and offices worldwide. They
have an impressive annual report posted on the internet.
http://www.cefor.no/news/CEFOR%20&%20Annual%20Report/CEFOR%20Ann.Report
%202001.pdf
Beasley 164414 : Ships Construction Project MT 250 ! Page -4-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
Sjøassurandørernes Centralforening
The Central Union of Marine Underwriters
Oslo – Norway
Postal address: P.O.Box 2550 Solli,
N-0202 Oslo, Norway
Visiting address: Hansteens gate 2
Phone: +47 23 08 65 50
Fax: +47 22 56 10 77
E-mail: cefor@cefor.no
Classification Society: Lloyds Register (LR)
The Dutch-flagged vessel is classified by Lloyds with the notation 100 A1, LI, CG, +LMC,
UMS, with descriptive note SCM regarding loading and unloading. I emailed the Houston office
of Lloyds for a clarification of the notations assigned to Jumbo Javelin and Fairpartner.
Lloyds - email clarified:
Q This distinguishing mark will be assigned, at the time of classing, to new ships constructed
under LR’s Special Survey in compliance with the rules, and to the satisfaction of the
Classification Committee.
100 This character figure will be assigned to all ships considered suitable for sea-going service.
A This character letter will be assigned to all ships which have been built or accepted into class
in accordance with LR’s Rules and Regulations, and which are maintained good and efficient
condition.
1 this character figure will be assigned to:
(a)Ships having on board, in good and efficient condition, anchoring and/or mooring equipment
in accordance with the Rules.
(b)Ships classed for a special service, having on board, in good and efficient condition,
anchoring equipment approved by the Classification Committee as suitable and sufficient for
particular service.
CG - Optional notation. Indicates that the ship’s cargo gear is included in class.
LI This notation will be assigned where an approved loading instrument has been installed as a
classification requirement.
QLMC This notation will be assigned when the propelling and essential auxiliary machinery
have been constructed, installed and tested under LR’s Special Survey and in accordance with
LR’s Rules and Regulations.
Beasley 164414 : Ships Construction Project MT 250 ! Page -5-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
UMS This notation may be assigned when the arrangements are such that the ship can be
operated with the machinery spaces unattended. It denotes that the control engineering
equipment has been arranged, installed and tested in accordance with LR’s Rules, or is
equivalent thereto.
SCM Screwshaft Condition Monitoring.
Lloydʼs Register North America, Inc.
Priyabrata Patnaik
American Technical Performance Manager
1401 Enclave Parkway, Suite 200
Houston, Texas.
Design:
Heavy lift cargo ship.
Hull Form:
The ship has a bulbous bow. It probably has a duct keel.
House:
In order to increase operational flexibility, the deckhouse and bridge are placed forward and only
extend across half the deck-width. This solution maximizes longitudinal deck space, allowing for
the comfortable accommodation of reactor columns which can exceed 150m in length. The house
is on the front of the ship, which usually means the ship tends to be a near coastal vessel, rather
than a deep sea vessel.
Accommodations and Crew Size:
As mentioned previously, Jumbo is a privately held company. Typically they get their funding
out of the private equity markets called KG Houses. In some European countries, such as
Germany income from capital invested in the maritime industry is tax free. For this reason
Jumbo is not required to make public disclosures. Jumbo uses this to obtain a competitive edge
over their publicly traded competition. The average heavy lift ship in the J-1600 Class has a crew
of 34 to 39 persons. The director of finance at Jumbo, Bart Zielhuis was kind enough to provide
me with some additional information. In his email he said the J-1600 Class has a crew of 19. It
has 4 deck crew, 4 engineers, all of whom are Dutch. The 11 person crew is Philippino. The cost
of the Dutch crew is about $4,800 USD per person, with the Philippino crew being paid about
$2,500 USD per month. Bart Zielhuis said that total crew costs accounted for approximately 50%
of the cost of operating the ship, sometimes more. If indeed the Jumbo has a crew of 19 while the
competition has a crew of 34 to 39, that provides a competitive advantage.
Beasley 164414 : Ships Construction Project MT 250 ! Page -6-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
Fresh Water Capacity:
The J-1600 holds 150 tons of potable water.
Machinery:
The J-1600 class has two state-of-the-art mast cranes with a combined lifting capacity of 1,600
tons at a maximum outreach of 28 meters. For general cargo there is an auxiliary hoist on a
trolley that has a 35 ton capacity. There is also a 10 ton whip-hoist. As well the Ampelmann was
added, a self stabilizing work platform.
CG - Optional notation. Indicates that the ship’s cargo gear is included in class.
LI This notation will be assigned where an approved loading instrument has been installed as a
classification requirement.
Cost:
The cost of the J-1600 Class is not public information. It seems there was some combination of
private and public financing of a number of the Jumbo ships. Perhaps Jumbo was able to assist
the Dutch government in rebuilding the waning Dutch fleet. The typical cost of a heavy lift
vessel ranges from the Blue Giant constructed in 2008 for $100 M USD down to 85.2M USD for
Schiffahrtskontor Altes Land, (SAL) heavy lift ship constructed in Germany for about 60 million
euro or 85.2 million USD 2009 dollars. In the email from Bart Zielhuis director of finance at
Jumbo, he said the SAL figure of 85M USD was a usable estimate of the cost of a new build
price.
Payback Period:
In as much as Jumbo is building one new J-1600/1800 every 2 years since 2004. The payback or
break-even costs might be very short. According to the email from Bart Zielhuis director of
finance at Jumbo, he recommended I use a loan or amortization period of 13 years with a Straight
Line (SL) depreciation schedule of 20 years with a 10% residual or scrap value.
Financial Statements: Performa Balance Sheet EOY 1.
Performa J-1600 capitalized useful life of 20 year period 10% salvage value.
Loan 50% LTV, amortized for 13 years at 6% fixed interest.
Current Assets
Cash in Banks
Charter Income
	

 Accounts Receivable (due before Dec. 31)
	

 Notes Receivable (portion due before Dec. 31)
	

 Misc. passengers
	

 Misc. cargo
Beasley 164414 : Ships Construction Project MT 250 ! Page -7-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
Total Charter and Miscellaneous Income
Supplies - Bunkers and spare parts
Two months reserves of crew wages	

 	

 	

 	

 285,567
Prepaid Management fees
Prepaid Insurance
Prepaid - Class Society survey & fees
Prepaid Dockage - permits and fees
Total Current Assets 	

 	

 	

 	

 	

 285,567
Long Term Assets
Notes Receivable
J 1600 Vessel Expense 	

 	

	

 	

 	

 85,200,000
Depreciation 	

 	

 	

 	

 	

 	

 	

 <4,260,000>
Tools & Machinery
Total Long Term Assets 	

 	

 	

 	

 	

 80,940,000
Current Liabilities
Operating Costs
	

 Annual Officers x 8	

 	

 	

 	

 	

	

 (8 x $4,800 x 52 ) 	

 	

 	

 	

 	

 <1,996,800>
	

 Annual Crew x 11	

 	

 	

 	

 	

 <1,430,000>
	

 (11 x 2,500 x 52)
	

 Annual Food 	

 	

 	

 	

 	

 	

 <520,125>	

Supplies - Bunkers and spare parts
Two months reserves of crew wages	

 	

 	

 	

 <285,567>
Prepaid Management fees
Prepaid Insurance
Prepaid - Society Class survey & fees
Prepaid Dockage - permits and fees
Total Current Liabilities 	

 	

Capital Costs - interest 6%	

 	

 	

 	

 	

 <2,556,000>
Ship Loan	

 	

 	

 	

 	

 	

 	

 <42,600,000>
Long Term Liabilities
Daily Charter break-even = Total annual costs / 360 days USD
Total Payback to break-even: = annual costs * 13 (payback period) = USD
Beasley 164414 : Ships Construction Project MT 250 ! Page -8-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
Mortgage Information:
Purchase - Build Price 	

 	

 	

 	

 	

 85,200,000
Mortgage 50% LTV 	

 	

 	

 	

 	

 42,600,000
Payment Monthly 	

 	

 	

 	

 	

 	

 391,972
Interest 	

 	

 	

 	

 	

 	

 	

 92,300
If I had a budget for this report I would have bought (www.Bizstates.com) a copy of Dunn &
Bradstreet Industry Averages by SIC (Standard Industrial Code) number. In this case a number of
SIC codes might be relevant, 441 Ship Shipping, 4412 Deep Sea Foreign Freight, 4424 Deep Sea
Domestic Freight. Other important SIC Codes are 421 Trucking, 451 Air Cargo, 473 Freight &
Cargo, 401 Railroad, 414 Bus Freight. These reports provide industry averages and percentages
for key financial categories. Therefore, if you know any one figure from a Balance Sheet, then
the percentages provided by D&B can be used to create and fill in a rather accurate Performa
Balance Sheet for a perspective business. Knowing that the ship costs $85.2M, that piece of
information along with the industry averages could be used to build a financial statement - i.e.
cost categories and break-even for this perspective ship.
Daily Charter break-even = Total annual costs / 360 days USD
Total Payback to break-even: = annual costs * payback period = USD
B/E = (ship costs, interest costs, all operating costs until ship is paid)
It is important to calculate project break-even and then to see the impact on B/E at
various payback periods because operating expenses are so high in the shipping industry.
Main Engines:
The vessels are powered by two main engines, rated at 4.320kW. The engines are MAN 9L 32/40
units which provide for cruising speeds up to 17.5 knots. The designation 9L 32/40 means 9
pistons, L is in line with a cylinder bore of 32 CM and a piston stroke of 40 CM. The MAN
32/40 is a four stroke engine. MAN also builds two stroke diesel engines, such as the 7S50MC-
C. Four stroke engines burn fuel cleaner but they tend to burn more fuel and they are heaver as
they must include a housing for an oil slump. The two stroke is lighter weight, and typically gets
better fuel economy. The MAN 9L 32/40 engines uses up to 37t of fuel per day at a continuous
rate of 90% load. When in harbor, the vessels consume up to 3t of heavy fuel oil or 1t of gasoil
per day. The vessels have bunker capacity for 1,200t of heavy fuel oil and 100t of gasoil. For
maneuvering in port, the vessels have Lips bow thruster
Beasley 164414 : Ships Construction Project MT 250 ! Page -9-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
Flag:
Flag - Dutch-flagged vessel is classified by Lloyds with the notation 100 A1, LI, CG, +LMC,
UMS, with descriptive note SCM regarding loading and unloading.
Holds:
The vessels have one 19,500m³ hold accessed by a single hatchway. The lower hold is 82.7
meters x 17 meters. The tweendeck is 101.9 meters x 17 meters.
Hatch Covers:
The one hatch cover has a tank top strenght of 12 ton/meters squared. The strength of the
tweendeck top is 7 ton/meters squared. Three hatch covers have a strength of 12 ton/meters
squared and five more hatch covers have a strenght of 8 tons/meter squared.
Cargo:
Heavy lift ships typically handle power plants, petrochemical and water treatment installations,
transformers, generators, engines, cement plants, - both onshore and offshore - and
decommissioning of crude oil and natural gas platforms that have reached their useful life, or
platforms that need to be repositioned to a new operating area. A new source of business is wind
Beasley 164414 : Ships Construction Project MT 250 ! Page -10-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
power generation industries. Recently, wind power has taken a priority and Jumbo has installed
an Ampelmann. According to a news article on October 2, 2009 the heavy lift industry is
expecting a rebound in business. They see the energy sector recovering before the general
economy and a number of the heavy lift companies have banked on power companies placing
power generating windmills offshore around Europe and the United States.
Machinery:
The super heavy lift new-buildings feature two state-of-the-art rotating mast cranes with a
combined lift capacity of 1,600t at a maximum outreach of 28 meters. For highly efficient
general cargo handling, the main hoists are supplemented with a range of other handling systems.
The auxiliary hoist has a 35 ton traveling trolley and there is a 10 ton whip-hoist. The first time
the cranes were tested, Lloyds required the cranes to demonstrate that they would lift 11 tons
each. They were given a rating of 8 tons each.
Draft:
With a shallow draft of just 6.5m, the J-1600 class retains the small port operational capability
that Jumbo's fleet is renowned for. The Lloyds Class Certificate says 7 meters draft, which is
about 23 feet. Jumbo likes to say that they can get their J-1600 into shallow water and shallow
ports and do work other heavy lift vessels cannot due to constrained by draft issues.
Beasley 164414 : Ships Construction Project MT 250 ! Page -11-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
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Length:
143.1 meters
Width:
26.5 meters
Air Draft:
46.40 meters
Gross Tonnage:
15,069 tons
Auxiliaries:
For maneuvering in port, the vessels have Lips bow thrusters and one azipod / azimuth
retractable bow thruster.
Machinery classification limits:
The two cranes were tested by Lloyds and required to be able to lift 11000 tons each, however
they were first rated at a usable level of 800 tons each, and are now rated at SWL 900 tons each.
This is the SWL working limit set by Lloyds.
Hull Form:
MSD: Information not available.
Steering System :
Most ships in this class have a combination electrical and hydraulic. It seems almost like the
steering on jets. The wheelhouse does not have to be connected directly to the steering controls.
It is almost like, or maybe it is like using the auto pilot on manual. The auto pilot is connected to
the rudder and the electronic control operates the auto pilot cylinder. If I understand correctly this
is the type mechanism that controls the rudder system.
Rudders (s):
One rudder, looks to be balanced but I could not find any details on the rudder.
Azipods:
The J-1600 Class has one retractable azipod / azimuth bow thruster.
Beasley 164414 : Ships Construction Project MT 250 ! Page -12-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
Thrusters:
The J-1600 Class has two tunnel type bow thrusters. DP system: produced by Simrad SDP 21.
The unit uses Wartsila C.P.P. Ct200-M (1450 kW) Rolls Royce TT 2400DPN-SS-CP (1450 KW)
Wartsila FS225-240/MNR (1700 KW). Simrad offers two courses and awards a certificate in
SDP operation, as well as SDP maintenance for engineers. They also sell a simulator for the
SDP (Simrad Dynamic Positioning System). This system is used on a number of ships. The
training and certificate, it would seem to me, could be offered by any training facility. Does
Maritime offer this training and certificate for deck licensed individuals?
Deck training / simulator package: http://www.osm.no/dl/DP_Simulator.pdf
Engineering training: http://www.simrad.com/INTERNAL/HUB0024.nsf/AllWeb/
B6EE1E8710A58080C125674D00564F54/$File/SDP%20technical%20course.PDF?
OpenElement
Fuel:
J-1600 Class bunkers 1,200 ton of heavy fuel oil and 100 ton of gasoil for use in port.
Fuel consumption in Port / Sea
The MAN 9L 32/40 engines uses up to 37t of fuel per day at a continuous rate of 90% load.
When in harbor, the vessels consume up to 3t of heavy fuel oil or 1t of gasoil per day. The
vessels have bunker capacity for 1,200t of heavy fuel oil and 100t of gasoil.
Range:
32.43 days of fuel leaving a reserve of 100 tons of clean gasoil. 17 knots x 24 hours = 408
nautical miles per day with a capacity of 32.43 days = a range of about 13,231 nautical miles
under ideal conditions, with moderate or calm seas and minimal load. Range can be extended by
adding additional temporary fuel tanks as necessary, or bunkering from a tanker.
Operational Cost Estimate / Fuel Consumption:
Th J-1600 Class burns 37 tons a day. I am going to assume that they are using Metric tons of
2,240 pounds Vs. English long tons of 2,205 pounds or American short tons of 2,000 pounds.
The trading cost per 42 gallon barrel of Texas light crude oil on October 20, 2009 is $67.25
cents. That is $1.60 a gallon without any refining and handling costs. The crude price usually
represents about .62 percent of the retail cost of diesel fuel. A gallon of diesel weighs about 7.1
to 7.3 pounds per gallon. 37 tons x 2,240 = 82,880 pounds / 7.2 pounds per gallon = 11,511
gallons @ $2.50 per gallon = $28,778 per day, or a tank full of 1,200 tons costs about
$932,975.56.
Beasley 164414 : Ships Construction Project MT 250 ! Page -13-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
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What makes this vessel unique?
At the time it was designed it was the largest heavy cargo lift ship in existence. It can move
massive amounts of materials into shallow water areas. This ship is perfect for working on oil
rigs, scraping or decommissioning oil rigs and installing the new wind mills offshore.
Environmental - Green:
They have used biodegradable lubes and/or synthetic oils. The shaft tube lube is biodegradable
so that if it leaks, this will not constitute an oil leak. The hydraulic fluids are biodegradable
something similar to vegetable oil. The J-1600 carries 100 ton of gasoil to burn in the engines
when in port. This light oil burns cleaner.
Electronics and Navigational Equipment:
Similar heavy lift ships such as the Mayflower Resolution and the Blue Giant have similar
navigational equipment according to their websites. I infer that the J-1600 has a similar
navigational equipment. The other heavy lift vessels are equipped with a class compliant
dynamic positioning control system. This is a Kongsberg Simrad SDP 11 unit using Fanbeam
laser, DGPS. Environmental monitoring is by three gyrocompass units, dual pitch and roll
sensors and dual wind sensor units. Additionally there is an independent joystick control system
to control the vessel operation in the event of DP system malfunction.
The ship is also equipped with an Ulstein Marine Automation System (UMAS) for monitoring
and control of the vessel's operational functions. The UMAS is linked to the bilge, ballast, fuel
oil and cooling water, diesel generators, high voltage switchboards and thruster monitoring
systems.
Such ships as the Mayflower and the Blue Giant have class compliant communication and
navigation systems for worldwide operation. Equipment installed includes dual radar systems,
Jotron GMDSS HF/MF and VHF systems, Inmarsat-B and Inmarsat-C communication systems,
an independent Sperry Marine autopilot system, Sperry Marine echo sounder and Litton water
speed doppler log unit. Vessel position is constantly confirmed by two independent global
positioning systems. Weather forecast data is obtained by weather fax and Furuno Navtex
reports.
Beasley 164414 : Ships Construction Project MT 250 ! Page -14-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
Bibliography
Encyclopedia of Business, 2nd ed.
SIC 4424 Deep Sea Domestic Transportation of Freight - Description, Market
Prospects, Industry History. The Encyclopedia of Business, 2nd ed.
Read more: http://www.referenceforbusiness.com/industries/Transportation-
Communications-Utilities/Deep-Sea-Domestic-Transportation-
Freight.html#ixzz0UWvYPZTz
Dunn & Bradstreet SIC codes provide financial statements for an industry. What is
important is that the income and expenses are averaged over 100 to 500 tax returns or
public financial statements. So, these averages are calculated as percentages of gross
revenues and total expenses. As such it is easy to reconstruct a realistic balance sheet
by deriving costs as a percentage of total income or total costs. In the course of
research, if you find any number from a company’s financial statements, then you can
use average percentages from the SIC codes to build an entire financial statement.
These SIC codes are free to copy in financial libraries. Not available at SUNY Maritime.
Prime Industry Reports: Sells SIC financial reports for $89.00 each
List of Industries - Industry Reports | Business Ratios ...
Review 5 years of business Financial Statements (Income Statements / Balance
Sheets) with each ... SIC 4424 Deep Sea Domestic Transportation of Freight ...
www.primeindustryreports.com/pdp.aspx?pg=List-Of.
Beasley 164414 : Ships Construction Project MT 250 ! Page -15-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
DAMEN SHIPYARDS GALATI
132 Moruzzi Street
800223 Galati
Romania
Phone +40 236 307 111 Fax +40 236 307 211
E-mail
office@damen.ro
The parent company is a Dutch shipyard:
DAMEN SHIPYARDS HARDINXVELD
Rivierdijk 544
Postbus 60
3370 AB Hardinxveld-Giessendam
The Netherlands
Tel
(0184) 61 30 88
Verkoop
06 51 59 62 50
Fax
(0184) 61 77 93
E-mail
info@damen- hardinxveld.nl
Hoover's, Inc.
5800 Airport Blvd., Austin, TX 78752 (map)
phone: 512-374-4500
fax: 512-374-4501
Financial details on: Damen Shipyards Group can be purchased from Hoover’s for
$129.00 dollars for a single report, or for a student rate is $50.00 a month.
http://www.hoovers.com/about/100000489-1.html
http://www.hoovers.com/student
Bart Zielhuis, director of finance at Jumbo, provided corrections to the proforma Balance Sheet.
http://www.jumboship.nl
Ship Information provided by:
ship-technology.com is a product of Net Resources International. Copyright 2009
Net Resources International, a trading division of SPG Media Limited
Beasley 164414 : Ships Construction Project MT 250 ! Page -16-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
http://www.ship-technology.com
The Worldʼs Largest Heavy Lift Ship Enters Service
Jumbo-Javelin
Energy News Editor: Richard Prince
http://www.EngeryME.com
Ampelmann on Jumbo Javelin
www.ship-technology.com/features/
Janeʼs Merchant Ships
profile of Jumbo Javelin
maritime.desk@janes.com
Lloydʼs Register North America, Inc.
Priyabrata Patnaik
American Techinical Performance Manager
1401 Enclave Parkway, Suite 200
Houston, Texas.
email on Lloydʼs classification clarification information for Jumbo Javelin
Brochures:
Jumbo Javelin
Jumbo Fairpartner
Jumbo Fairplayer
Jumbo Shipping VOF
3, Van Vollenhovenstratt
3016 BE Rotterdam
The Netherlands
PH 31, 10, 413, 4630 FX 31, 10, 433, 4624
Email info@kahn.nl
WWW.jumboshipping.nl
Brochure Marine 32-40: MAN 9L Diesel Engine
Address:
MAN
Ungererstrasse 69 D-8000 Munich 40
Federal Republic of Germany
Telephone: (89) 3 60 98 0
Fax: (89) 3 60 98 250
Beasley 164414 : Ships Construction Project MT 250 ! Page -17-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241
Statistics:
Public Company
Incorporated: 1873 as Gutehoffnungshütte Aktienverein AG
Employees: 63,707
Sales: DM17.05 billion (US$10.09 billion)
Stock Index: Munich Berlin Düsseldorf Frankfurt Hamburg Bremen Hanover
Stuttgart Basel Geneva Zürich
Beasley 164414 : Ships Construction Project MT 250 ! Page -18-
SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465
johnbea.09@sunymaritime.edu 321-543-3241

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Jumbo Shipping VOF vessel profile and specifications

  • 1. TEL +31 10 413 4630 FAX +31 10 433 4624 EMAIL INFO@KAHN.NL WWW.JUMBOSHIPPING.NL POSTAL ADDRESS: P.O. BOX 23016 3001 KA ROTTERDAM THE NETHERLANDS JUMBO SHIPPING VOF: 3, VAN VOLLENHOVENSTRAAT 3016 BE ROTTERDAM THE NETHERLANDS MV JUMBO JAVELIN J1 J - CLASS Call sign : PHEG IMO NO. : 9243837 Port of registry : Willemstad Flag : Netherlands : Lloyd’s Register +100 A1 Strengthened for heavy cargoes +LMC , UMS, CG, LI, DP (AA), PCR, IWS; With the note: “SCM”; Loading & unloading aground during crane operations; with hatchcovers omitted draught restricted to 7,5m Built : 2004 Owner : Jumbo Javelin N.V. Charterers : Kahn Special Transport B.V. Rotterdam General agent : Kahn Scheepvaart B.V. Rotterdam : Gard A.S., Arendal, Norway Deadweight (summer) : 10942t (7.5m)/ 12922t (8.1m) all told : 7.5m (open condition)/ 8.1m Length o.a. : 144,21 m Beam o.a. (hull) : 26.70 m : 47,32 m G.T. : 15022 N.T. : 4506 G.T. Suez Canal : 14672 N.T. Suez Canal : 10926 G.T. Panama : N.T. Panama : 12592 : 1 : 1 : 18030 m3 : 3100 m2 Hold: dimensions lowerhold : 82,65 x 17,00 m : 101.95 x 17.00 m Hold: total height : 12,50 m : 12,00 t/m2 : 7,00 t/m2 : 5x 8.7t/m2 and 3x 12t/m2 Cargo gear : 2 Cranes each 900 t / in combi 1800 t Auxiliary hoist 2x 37,5 t (traveling trolley) 2x 10 t Slinghandling hoist Main engine(s) : 2x MAN/B&W 9L 32/40 (8640 kW total) Thruster(s) : DP System: Kongsberg Simrad SDP 21 Bow tunnel thruster : Wartsila C.P.P. CT200-M (1450 kW) Bow tunnel thruster : Rolls Royce TT2400DPN-SS-CP (1450 kW) : Wartsila FS225-240/MNR (1700 kW) : 17,00 knots : 1269 t I.F.O / 207 t M.G.O. : 140,82 t : : : 192 FEU in hold w/o tweendeck hatchcovers / 426 TEU Beasley 164414 : Ships Construction Project MT 250 ! Page -1- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 2. Jumbo has taken delivery of two super heavy lift vessels and is currently building two more new- generation super heavy lift vessels in response to the offshore industry's demand for a higher lifting capability as well as a larger outreach and lifting height for offshore installations. Designated as J-1600 Class (now J-1800 Class) ships. The first two ships in this class of 11,000 dead weight ton ships, was the Jumbo Javelin followed by the Jumbo Fairpartner. As of 2004 - 2008 they were the most powerful heavy lift cargo vessels in their class in the world. Their class is the traditional heavy lift cargo ship, as opposed to a heavy lift submersible or heavy lift RO/ RO vessel. The Jumbo Javelin is now world famous as the star attraction in the 2008 version of Ship Simulator published by the Dutch company VSTEP (www.shipsim.com or www.vstep.ln Builder: Damen Shipyards, Galatz Romania DAMEN SHIPYARDS GALATI 132 Moruzzi Street 800223 Galati, Romania Phone+40 236 307 111 Fax +40 236 307 211 E-mail: office@damen.ro The Damen Shipyard in Galati Romania was built on the Danube River in 1893. Since that time they have manufactured over 1,100 ships. Between 1994 and 1999 the Dutch provided expertise to the shipyard to modernize the facility. In 1999 a Dutch partnership purchased the shipyard. The shipyard had a tremendous amount of renovation to make it competitive. The shipyard builds a large variety and number of ships. Typically, Damen builds 200 ships a year of various types and functions. In the typical year Damen builds only two heavy lift ships similar to the Jumbo Javelin and Fairpartner. In the 1980’s and 1990’s the Dutch government became concerned about the decline in Dutch registered / flagged / crewed ships. As such the Dutch government began funding or underwriting ship building to restore the Dutch shipping fleet. Part of this strategy was the purchase of the shipyard in Romania. This allowed Dutch ships to be built economically with one dollar and hour East European labor. Since the shipyard is owned by a Dutch company the yard is considered to be Dutch. This was a trick used by the American shipping magnate Daniel Ludwig in the 1950’s and 1960’s. He purchased a Japanese shipyard to bypass laws against the Japanese building ships. Ludwig claimed it was an American shipyard. Often times the builders of the Jumbo Javelin and Jumbo Fairpartner are listed as Damen Shipyards Harinxveld or Rotterdam. These ships are Dutch flagged and carry Dutch officers, although the crew is Philippino. The goal of Damen Shipyards is to focus upon high tech vessels, research vessels and mega-yachts. This will increase the competition for similar American built ships, typically the mega-yachts. Damen has introduced a tightly structured mission statement. Quality control has got to be a major challenge for the Dutch, as post communist Eastern European nations are not known for their work ethic. I quote from the Damen website: “Management System, and will apply the following principles to all activities to be performed: • The Quality Management represents the first responsibility of management personnel; • The activities should be carried out in fully accordance with the Quality Manual and requirements concerning procedures applied to each activity; Beasley 164414 : Ships Construction Project MT 250 ! Page -2- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 3. • Training and involvement of personnel in order to achieve the quality objectives; • The decisions at each level are taken only on the basis of data and facts; • Firm connections with the traditional DSG’s suppliers; • Environment protection and performance of activities in full security for DSG personnel. We continuously control and upgrade our customer-focused process. The two most important parameters to become "The preferred shipbuilder" are: • To build confidence. • To be price and costs competitive.” Ship Class: J- 1600. The 1600 relates to the lifting capacity of the two cranes on the deck. The newer ships in this class are referred to as J-1800’s. There are now four of these ships which are in service or under construction. The Mission or Market Segment: They were brought into service in the first quarter 2004. These eighth-generation Jumbo heavy lift ships are designed to provide new heavy transport solutions for its core markets which includes the oil and gas sector. Heavy lift ships typically handle power plants, petrochemical and water treatment installations, transformers, generators, engines, cement plants, - both onshore and offshore - and wind power generation industries. Recently, wind power has taken a priority and Jumbo has installed an Ampelmann. Acording to the Ampelmann website “The Ampelmann is a ship-based self stabilizing platform that actively compensates all vessel motions to make offshore access safe, easy and fast.” Below is a drawing of a heavy lift cargo. Beasley 164414 : Ships Construction Project MT 250 ! Page -3- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 4. Management Company: The vessels will be managed by Jumbo; 3, Van Vollenhovenstratt 3016 BE Rotterdam The Netherlands PH 31, 10, 413, 4630 FX 31, 10, 433, 4624 Email info@kahn.nl WWW.jumboshipping.nl The Ships Agent: Kahn Scheepvaart, Rotterdam. Kahn Scheepvaart En Handelmij BV H G Van Vollenhovenstraat 3 E78, 3016 BE Rotterdam, Netherlands 010 2014100 ‎ Insurance Agents and P & I Club: GARD of Arendal, Norway - the GARD P&I-Club The GARD website provides the following information: GARD insures 4600 vessels with a total tonnage of 87 million gross tons. GARD is the second largest P&I club in the world. GARD represents all types of ships: “Large tankers, cruise vessels, container vessels, LNG and LPG carriers, ferries, oil rigs, FPSO's”. “The primary strategic goal of GARD is to provide protection, financial stability and premium predictability for it's Members. As of the commencement of the 1997 insurance year, total funds exceeded USD 600 million, including a contingency reserve in excess of USD 200 million -- all at market value.” “Typical liabilities covered by the club are claims from damages to or shortages of cargo carried on board, injuries or illness in respect of passengers or crew, collisions with quays, piers or other vessels and, perhaps the financially most severe contingency - pollution of the environment by oil or other products carried by the vessel.” GARD has agents and offices worldwide. They have an impressive annual report posted on the internet. http://www.cefor.no/news/CEFOR%20&%20Annual%20Report/CEFOR%20Ann.Report %202001.pdf Beasley 164414 : Ships Construction Project MT 250 ! Page -4- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 5. Sjøassurandørernes Centralforening The Central Union of Marine Underwriters Oslo – Norway Postal address: P.O.Box 2550 Solli, N-0202 Oslo, Norway Visiting address: Hansteens gate 2 Phone: +47 23 08 65 50 Fax: +47 22 56 10 77 E-mail: cefor@cefor.no Classification Society: Lloyds Register (LR) The Dutch-flagged vessel is classified by Lloyds with the notation 100 A1, LI, CG, +LMC, UMS, with descriptive note SCM regarding loading and unloading. I emailed the Houston office of Lloyds for a clarification of the notations assigned to Jumbo Javelin and Fairpartner. Lloyds - email clarified: Q This distinguishing mark will be assigned, at the time of classing, to new ships constructed under LR’s Special Survey in compliance with the rules, and to the satisfaction of the Classification Committee. 100 This character figure will be assigned to all ships considered suitable for sea-going service. A This character letter will be assigned to all ships which have been built or accepted into class in accordance with LR’s Rules and Regulations, and which are maintained good and efficient condition. 1 this character figure will be assigned to: (a)Ships having on board, in good and efficient condition, anchoring and/or mooring equipment in accordance with the Rules. (b)Ships classed for a special service, having on board, in good and efficient condition, anchoring equipment approved by the Classification Committee as suitable and sufficient for particular service. CG - Optional notation. Indicates that the ship’s cargo gear is included in class. LI This notation will be assigned where an approved loading instrument has been installed as a classification requirement. QLMC This notation will be assigned when the propelling and essential auxiliary machinery have been constructed, installed and tested under LR’s Special Survey and in accordance with LR’s Rules and Regulations. Beasley 164414 : Ships Construction Project MT 250 ! Page -5- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 6. UMS This notation may be assigned when the arrangements are such that the ship can be operated with the machinery spaces unattended. It denotes that the control engineering equipment has been arranged, installed and tested in accordance with LR’s Rules, or is equivalent thereto. SCM Screwshaft Condition Monitoring. Lloydʼs Register North America, Inc. Priyabrata Patnaik American Technical Performance Manager 1401 Enclave Parkway, Suite 200 Houston, Texas. Design: Heavy lift cargo ship. Hull Form: The ship has a bulbous bow. It probably has a duct keel. House: In order to increase operational flexibility, the deckhouse and bridge are placed forward and only extend across half the deck-width. This solution maximizes longitudinal deck space, allowing for the comfortable accommodation of reactor columns which can exceed 150m in length. The house is on the front of the ship, which usually means the ship tends to be a near coastal vessel, rather than a deep sea vessel. Accommodations and Crew Size: As mentioned previously, Jumbo is a privately held company. Typically they get their funding out of the private equity markets called KG Houses. In some European countries, such as Germany income from capital invested in the maritime industry is tax free. For this reason Jumbo is not required to make public disclosures. Jumbo uses this to obtain a competitive edge over their publicly traded competition. The average heavy lift ship in the J-1600 Class has a crew of 34 to 39 persons. The director of finance at Jumbo, Bart Zielhuis was kind enough to provide me with some additional information. In his email he said the J-1600 Class has a crew of 19. It has 4 deck crew, 4 engineers, all of whom are Dutch. The 11 person crew is Philippino. The cost of the Dutch crew is about $4,800 USD per person, with the Philippino crew being paid about $2,500 USD per month. Bart Zielhuis said that total crew costs accounted for approximately 50% of the cost of operating the ship, sometimes more. If indeed the Jumbo has a crew of 19 while the competition has a crew of 34 to 39, that provides a competitive advantage. Beasley 164414 : Ships Construction Project MT 250 ! Page -6- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 7. Fresh Water Capacity: The J-1600 holds 150 tons of potable water. Machinery: The J-1600 class has two state-of-the-art mast cranes with a combined lifting capacity of 1,600 tons at a maximum outreach of 28 meters. For general cargo there is an auxiliary hoist on a trolley that has a 35 ton capacity. There is also a 10 ton whip-hoist. As well the Ampelmann was added, a self stabilizing work platform. CG - Optional notation. Indicates that the ship’s cargo gear is included in class. LI This notation will be assigned where an approved loading instrument has been installed as a classification requirement. Cost: The cost of the J-1600 Class is not public information. It seems there was some combination of private and public financing of a number of the Jumbo ships. Perhaps Jumbo was able to assist the Dutch government in rebuilding the waning Dutch fleet. The typical cost of a heavy lift vessel ranges from the Blue Giant constructed in 2008 for $100 M USD down to 85.2M USD for Schiffahrtskontor Altes Land, (SAL) heavy lift ship constructed in Germany for about 60 million euro or 85.2 million USD 2009 dollars. In the email from Bart Zielhuis director of finance at Jumbo, he said the SAL figure of 85M USD was a usable estimate of the cost of a new build price. Payback Period: In as much as Jumbo is building one new J-1600/1800 every 2 years since 2004. The payback or break-even costs might be very short. According to the email from Bart Zielhuis director of finance at Jumbo, he recommended I use a loan or amortization period of 13 years with a Straight Line (SL) depreciation schedule of 20 years with a 10% residual or scrap value. Financial Statements: Performa Balance Sheet EOY 1. Performa J-1600 capitalized useful life of 20 year period 10% salvage value. Loan 50% LTV, amortized for 13 years at 6% fixed interest. Current Assets Cash in Banks Charter Income Accounts Receivable (due before Dec. 31) Notes Receivable (portion due before Dec. 31) Misc. passengers Misc. cargo Beasley 164414 : Ships Construction Project MT 250 ! Page -7- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 8. Total Charter and Miscellaneous Income Supplies - Bunkers and spare parts Two months reserves of crew wages 285,567 Prepaid Management fees Prepaid Insurance Prepaid - Class Society survey & fees Prepaid Dockage - permits and fees Total Current Assets 285,567 Long Term Assets Notes Receivable J 1600 Vessel Expense 85,200,000 Depreciation <4,260,000> Tools & Machinery Total Long Term Assets 80,940,000 Current Liabilities Operating Costs Annual Officers x 8 (8 x $4,800 x 52 ) <1,996,800> Annual Crew x 11 <1,430,000> (11 x 2,500 x 52) Annual Food <520,125> Supplies - Bunkers and spare parts Two months reserves of crew wages <285,567> Prepaid Management fees Prepaid Insurance Prepaid - Society Class survey & fees Prepaid Dockage - permits and fees Total Current Liabilities Capital Costs - interest 6% <2,556,000> Ship Loan <42,600,000> Long Term Liabilities Daily Charter break-even = Total annual costs / 360 days USD Total Payback to break-even: = annual costs * 13 (payback period) = USD Beasley 164414 : Ships Construction Project MT 250 ! Page -8- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 9. Mortgage Information: Purchase - Build Price 85,200,000 Mortgage 50% LTV 42,600,000 Payment Monthly 391,972 Interest 92,300 If I had a budget for this report I would have bought (www.Bizstates.com) a copy of Dunn & Bradstreet Industry Averages by SIC (Standard Industrial Code) number. In this case a number of SIC codes might be relevant, 441 Ship Shipping, 4412 Deep Sea Foreign Freight, 4424 Deep Sea Domestic Freight. Other important SIC Codes are 421 Trucking, 451 Air Cargo, 473 Freight & Cargo, 401 Railroad, 414 Bus Freight. These reports provide industry averages and percentages for key financial categories. Therefore, if you know any one figure from a Balance Sheet, then the percentages provided by D&B can be used to create and fill in a rather accurate Performa Balance Sheet for a perspective business. Knowing that the ship costs $85.2M, that piece of information along with the industry averages could be used to build a financial statement - i.e. cost categories and break-even for this perspective ship. Daily Charter break-even = Total annual costs / 360 days USD Total Payback to break-even: = annual costs * payback period = USD B/E = (ship costs, interest costs, all operating costs until ship is paid) It is important to calculate project break-even and then to see the impact on B/E at various payback periods because operating expenses are so high in the shipping industry. Main Engines: The vessels are powered by two main engines, rated at 4.320kW. The engines are MAN 9L 32/40 units which provide for cruising speeds up to 17.5 knots. The designation 9L 32/40 means 9 pistons, L is in line with a cylinder bore of 32 CM and a piston stroke of 40 CM. The MAN 32/40 is a four stroke engine. MAN also builds two stroke diesel engines, such as the 7S50MC- C. Four stroke engines burn fuel cleaner but they tend to burn more fuel and they are heaver as they must include a housing for an oil slump. The two stroke is lighter weight, and typically gets better fuel economy. The MAN 9L 32/40 engines uses up to 37t of fuel per day at a continuous rate of 90% load. When in harbor, the vessels consume up to 3t of heavy fuel oil or 1t of gasoil per day. The vessels have bunker capacity for 1,200t of heavy fuel oil and 100t of gasoil. For maneuvering in port, the vessels have Lips bow thruster Beasley 164414 : Ships Construction Project MT 250 ! Page -9- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 10. Flag: Flag - Dutch-flagged vessel is classified by Lloyds with the notation 100 A1, LI, CG, +LMC, UMS, with descriptive note SCM regarding loading and unloading. Holds: The vessels have one 19,500m³ hold accessed by a single hatchway. The lower hold is 82.7 meters x 17 meters. The tweendeck is 101.9 meters x 17 meters. Hatch Covers: The one hatch cover has a tank top strenght of 12 ton/meters squared. The strength of the tweendeck top is 7 ton/meters squared. Three hatch covers have a strength of 12 ton/meters squared and five more hatch covers have a strenght of 8 tons/meter squared. Cargo: Heavy lift ships typically handle power plants, petrochemical and water treatment installations, transformers, generators, engines, cement plants, - both onshore and offshore - and decommissioning of crude oil and natural gas platforms that have reached their useful life, or platforms that need to be repositioned to a new operating area. A new source of business is wind Beasley 164414 : Ships Construction Project MT 250 ! Page -10- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 11. power generation industries. Recently, wind power has taken a priority and Jumbo has installed an Ampelmann. According to a news article on October 2, 2009 the heavy lift industry is expecting a rebound in business. They see the energy sector recovering before the general economy and a number of the heavy lift companies have banked on power companies placing power generating windmills offshore around Europe and the United States. Machinery: The super heavy lift new-buildings feature two state-of-the-art rotating mast cranes with a combined lift capacity of 1,600t at a maximum outreach of 28 meters. For highly efficient general cargo handling, the main hoists are supplemented with a range of other handling systems. The auxiliary hoist has a 35 ton traveling trolley and there is a 10 ton whip-hoist. The first time the cranes were tested, Lloyds required the cranes to demonstrate that they would lift 11 tons each. They were given a rating of 8 tons each. Draft: With a shallow draft of just 6.5m, the J-1600 class retains the small port operational capability that Jumbo's fleet is renowned for. The Lloyds Class Certificate says 7 meters draft, which is about 23 feet. Jumbo likes to say that they can get their J-1600 into shallow water and shallow ports and do work other heavy lift vessels cannot due to constrained by draft issues. Beasley 164414 : Ships Construction Project MT 250 ! Page -11- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 12. Length: 143.1 meters Width: 26.5 meters Air Draft: 46.40 meters Gross Tonnage: 15,069 tons Auxiliaries: For maneuvering in port, the vessels have Lips bow thrusters and one azipod / azimuth retractable bow thruster. Machinery classification limits: The two cranes were tested by Lloyds and required to be able to lift 11000 tons each, however they were first rated at a usable level of 800 tons each, and are now rated at SWL 900 tons each. This is the SWL working limit set by Lloyds. Hull Form: MSD: Information not available. Steering System : Most ships in this class have a combination electrical and hydraulic. It seems almost like the steering on jets. The wheelhouse does not have to be connected directly to the steering controls. It is almost like, or maybe it is like using the auto pilot on manual. The auto pilot is connected to the rudder and the electronic control operates the auto pilot cylinder. If I understand correctly this is the type mechanism that controls the rudder system. Rudders (s): One rudder, looks to be balanced but I could not find any details on the rudder. Azipods: The J-1600 Class has one retractable azipod / azimuth bow thruster. Beasley 164414 : Ships Construction Project MT 250 ! Page -12- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 13. Thrusters: The J-1600 Class has two tunnel type bow thrusters. DP system: produced by Simrad SDP 21. The unit uses Wartsila C.P.P. Ct200-M (1450 kW) Rolls Royce TT 2400DPN-SS-CP (1450 KW) Wartsila FS225-240/MNR (1700 KW). Simrad offers two courses and awards a certificate in SDP operation, as well as SDP maintenance for engineers. They also sell a simulator for the SDP (Simrad Dynamic Positioning System). This system is used on a number of ships. The training and certificate, it would seem to me, could be offered by any training facility. Does Maritime offer this training and certificate for deck licensed individuals? Deck training / simulator package: http://www.osm.no/dl/DP_Simulator.pdf Engineering training: http://www.simrad.com/INTERNAL/HUB0024.nsf/AllWeb/ B6EE1E8710A58080C125674D00564F54/$File/SDP%20technical%20course.PDF? OpenElement Fuel: J-1600 Class bunkers 1,200 ton of heavy fuel oil and 100 ton of gasoil for use in port. Fuel consumption in Port / Sea The MAN 9L 32/40 engines uses up to 37t of fuel per day at a continuous rate of 90% load. When in harbor, the vessels consume up to 3t of heavy fuel oil or 1t of gasoil per day. The vessels have bunker capacity for 1,200t of heavy fuel oil and 100t of gasoil. Range: 32.43 days of fuel leaving a reserve of 100 tons of clean gasoil. 17 knots x 24 hours = 408 nautical miles per day with a capacity of 32.43 days = a range of about 13,231 nautical miles under ideal conditions, with moderate or calm seas and minimal load. Range can be extended by adding additional temporary fuel tanks as necessary, or bunkering from a tanker. Operational Cost Estimate / Fuel Consumption: Th J-1600 Class burns 37 tons a day. I am going to assume that they are using Metric tons of 2,240 pounds Vs. English long tons of 2,205 pounds or American short tons of 2,000 pounds. The trading cost per 42 gallon barrel of Texas light crude oil on October 20, 2009 is $67.25 cents. That is $1.60 a gallon without any refining and handling costs. The crude price usually represents about .62 percent of the retail cost of diesel fuel. A gallon of diesel weighs about 7.1 to 7.3 pounds per gallon. 37 tons x 2,240 = 82,880 pounds / 7.2 pounds per gallon = 11,511 gallons @ $2.50 per gallon = $28,778 per day, or a tank full of 1,200 tons costs about $932,975.56. Beasley 164414 : Ships Construction Project MT 250 ! Page -13- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 14. What makes this vessel unique? At the time it was designed it was the largest heavy cargo lift ship in existence. It can move massive amounts of materials into shallow water areas. This ship is perfect for working on oil rigs, scraping or decommissioning oil rigs and installing the new wind mills offshore. Environmental - Green: They have used biodegradable lubes and/or synthetic oils. The shaft tube lube is biodegradable so that if it leaks, this will not constitute an oil leak. The hydraulic fluids are biodegradable something similar to vegetable oil. The J-1600 carries 100 ton of gasoil to burn in the engines when in port. This light oil burns cleaner. Electronics and Navigational Equipment: Similar heavy lift ships such as the Mayflower Resolution and the Blue Giant have similar navigational equipment according to their websites. I infer that the J-1600 has a similar navigational equipment. The other heavy lift vessels are equipped with a class compliant dynamic positioning control system. This is a Kongsberg Simrad SDP 11 unit using Fanbeam laser, DGPS. Environmental monitoring is by three gyrocompass units, dual pitch and roll sensors and dual wind sensor units. Additionally there is an independent joystick control system to control the vessel operation in the event of DP system malfunction. The ship is also equipped with an Ulstein Marine Automation System (UMAS) for monitoring and control of the vessel's operational functions. The UMAS is linked to the bilge, ballast, fuel oil and cooling water, diesel generators, high voltage switchboards and thruster monitoring systems. Such ships as the Mayflower and the Blue Giant have class compliant communication and navigation systems for worldwide operation. Equipment installed includes dual radar systems, Jotron GMDSS HF/MF and VHF systems, Inmarsat-B and Inmarsat-C communication systems, an independent Sperry Marine autopilot system, Sperry Marine echo sounder and Litton water speed doppler log unit. Vessel position is constantly confirmed by two independent global positioning systems. Weather forecast data is obtained by weather fax and Furuno Navtex reports. Beasley 164414 : Ships Construction Project MT 250 ! Page -14- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 15. Bibliography Encyclopedia of Business, 2nd ed. SIC 4424 Deep Sea Domestic Transportation of Freight - Description, Market Prospects, Industry History. The Encyclopedia of Business, 2nd ed. Read more: http://www.referenceforbusiness.com/industries/Transportation- Communications-Utilities/Deep-Sea-Domestic-Transportation- Freight.html#ixzz0UWvYPZTz Dunn & Bradstreet SIC codes provide financial statements for an industry. What is important is that the income and expenses are averaged over 100 to 500 tax returns or public financial statements. So, these averages are calculated as percentages of gross revenues and total expenses. As such it is easy to reconstruct a realistic balance sheet by deriving costs as a percentage of total income or total costs. In the course of research, if you find any number from a company’s financial statements, then you can use average percentages from the SIC codes to build an entire financial statement. These SIC codes are free to copy in financial libraries. Not available at SUNY Maritime. Prime Industry Reports: Sells SIC financial reports for $89.00 each List of Industries - Industry Reports | Business Ratios ... Review 5 years of business Financial Statements (Income Statements / Balance Sheets) with each ... SIC 4424 Deep Sea Domestic Transportation of Freight ... www.primeindustryreports.com/pdp.aspx?pg=List-Of. Beasley 164414 : Ships Construction Project MT 250 ! Page -15- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 16. DAMEN SHIPYARDS GALATI 132 Moruzzi Street 800223 Galati Romania Phone +40 236 307 111 Fax +40 236 307 211 E-mail office@damen.ro The parent company is a Dutch shipyard: DAMEN SHIPYARDS HARDINXVELD Rivierdijk 544 Postbus 60 3370 AB Hardinxveld-Giessendam The Netherlands Tel (0184) 61 30 88 Verkoop 06 51 59 62 50 Fax (0184) 61 77 93 E-mail info@damen- hardinxveld.nl Hoover's, Inc. 5800 Airport Blvd., Austin, TX 78752 (map) phone: 512-374-4500 fax: 512-374-4501 Financial details on: Damen Shipyards Group can be purchased from Hoover’s for $129.00 dollars for a single report, or for a student rate is $50.00 a month. http://www.hoovers.com/about/100000489-1.html http://www.hoovers.com/student Bart Zielhuis, director of finance at Jumbo, provided corrections to the proforma Balance Sheet. http://www.jumboship.nl Ship Information provided by: ship-technology.com is a product of Net Resources International. Copyright 2009 Net Resources International, a trading division of SPG Media Limited Beasley 164414 : Ships Construction Project MT 250 ! Page -16- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 17. http://www.ship-technology.com The Worldʼs Largest Heavy Lift Ship Enters Service Jumbo-Javelin Energy News Editor: Richard Prince http://www.EngeryME.com Ampelmann on Jumbo Javelin www.ship-technology.com/features/ Janeʼs Merchant Ships profile of Jumbo Javelin maritime.desk@janes.com Lloydʼs Register North America, Inc. Priyabrata Patnaik American Techinical Performance Manager 1401 Enclave Parkway, Suite 200 Houston, Texas. email on Lloydʼs classification clarification information for Jumbo Javelin Brochures: Jumbo Javelin Jumbo Fairpartner Jumbo Fairplayer Jumbo Shipping VOF 3, Van Vollenhovenstratt 3016 BE Rotterdam The Netherlands PH 31, 10, 413, 4630 FX 31, 10, 433, 4624 Email info@kahn.nl WWW.jumboshipping.nl Brochure Marine 32-40: MAN 9L Diesel Engine Address: MAN Ungererstrasse 69 D-8000 Munich 40 Federal Republic of Germany Telephone: (89) 3 60 98 0 Fax: (89) 3 60 98 250 Beasley 164414 : Ships Construction Project MT 250 ! Page -17- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241
  • 18. Statistics: Public Company Incorporated: 1873 as Gutehoffnungshütte Aktienverein AG Employees: 63,707 Sales: DM17.05 billion (US$10.09 billion) Stock Index: Munich Berlin Düsseldorf Frankfurt Hamburg Bremen Hanover Stuttgart Basel Geneva Zürich Beasley 164414 : Ships Construction Project MT 250 ! Page -18- SUNY Maritime, 6 Pennyfield Ave. Bronx, N.Y. 10465 johnbea.09@sunymaritime.edu 321-543-3241