Marine Project Solutions Limited (MPSL) can offer a service specifically tailored to the requirements of each owner and their Captain. We pride ourselves on having the ability, knowledge and experience to provide a service that compliments the smooth operation of the vessel to the owner’s best interests.
MPSL Management is able to provide technical assistance and advice in the case of a technical emergency or just a random enquiry to assist the Captain and crew. The Captain will be given MPSL Management contact details should the need arise for urgent advice, mobilising or repair companies, service engineers or manufacturers.
Planned maintenance schedules according to manufacturers guidelines, classification society, flag state regulations and good marine engineering practice will be drawn up. The continued maintenance of these plans will compliment the safe operation of the yacht in conjunction of the International Safety Management code (ISM) and its record keeping requirements.
MPSL Management will contact the vessel on a weekly basis and visit the vessel when necessary to verify that is is being maintained to the highest standards and to conduct internal audits, to verify maintenance schedules and reporting procedures are being followed. A monthly report (more frequent if requested) will be forwarded to the owner summarising the past month’s activities and giving information on the coming month’s schedule.
MPSL Management will endeavour to ensure that any refit and repair work undertaken is carried out on time and within the allocated budget. This will require close cooperation with the Captain to compile a list of required works in order that a technical specification can be drawn up. Copies of the specifications will be forwarded to appropriate shipyards for quotations. On review and if required, the suitable quotations can be presented to the owner/captain for final review. At the request of the owner or Captain a technical supervisor can be appointed to oversee the works. On completion we will ensure that all work has been carried out to meet or exceed the specification before final payment is honoured.
A copy of all technical documentation for the vessel, including drawings & manuals etc will be held by MPSL Management to facilitate the smooth operations of the yacht.
MPSL Management will ensure that flag and class certificates are maintained up to date and will arrange flag, classification or independent surveys when required. Should it be necessary, a breakdown of the report with advice on further action needed, including Code Compliance issues will be forwarded to the owner.
An approved ISM system should be drawn up for the yacht in conjunction with the Captain and implemented onboard as required by Ensign. This can be a ‘Mini ISM’ for vessels under 300GT; however a full accredited ISM system is required for vessels above 300GT.
Contact details will be made available to the Captain for emergency situations such as: collision, grounding, pollution and emergency towage assistance worldwide.
For vessels over 500GT a Flag state accredited ISPS system can be provided and implemented onboard, which must include crew training and awareness, internal audits and supervision of external audits. A dedicated team of trained professionals can be retained to assist in the event of a serious incident, security or otherwise.
MPSL Management advise that a satellite tracking system is fitted to the yacht by way of an existing piece of hardware or through a dedicated Ships Security Alert System (SSAS). This will allow the location of the yacht to be identified 24hrs a day by anyone with access to the internet with the relevant security codes.
An updated Area Security Report from a dedicated security company can be provided. Such reports will provide the Captain with ongoing security information from around the world to assist with passage plans.
MPSL Support Network
MPSL have built up a network of reputable associates and suppliers throughout the marine industry to ensure that a first class service is received for all of the yacht’s requirements on a day-to-day basis, from fuel oil analysis through to the best coffee beans available on any particular day.
Through this expanding network the most competitive prices will be pursued to maintain the owner’s best interests.
In co-operation with the Captain and through our support network as summarised above, MPSL Management will recruit and hire any required crew. Contracts and safety familiarisation documents will be completed and next of kin details for each crew member will be recorded and kept on file.
Crew qualifications will be verified and positive vetting will be carried out for all crew members, ensuring that flag state manning levels are met for the yacht and relevant STCW standards are maintained.
Guidance will be given to the Captain with regard to the accounting of the yacht to ensure accounts are submitted regularly and on time to minimise the risk of delays and mislaid receipts from the vessel.
MPSL Management can develop an annual budget taking into account the operational profile of the vessel as well as incorporating any planned maintenance costs that may be required. Once drafted, the budget will be submitted for approval (if required) and on this basis a cash flow projection will be adjusted monthly over the year, with funds requests being made accordingly.
A client account can be opened to accept the deposit of the vessel operational funds in the requested currency to be disbursed to the yacht and its creditors as appropriate. This account, whilst controlled by MPSL Management, is the responsibility of the owning company and is to be maintained in credit at all times in accordance with the budget.
Operational funds management; please contact us for further details.
MPSL Management can if required by the owner, negotiate on behalf of the owner to secure the most appropriate marine insurance cover for the vessel and the crew members. The cover is generally on an annual basis and will be reviewed accordingly.
Additional Management Rates
All costs and expenses will be charged net to the Owner. A monthly management fee will be calculated on vessel size, operations and MPSL services required.
To initiate the management, a Contract will be drawn up between MPSL Management as Managers and Owners/Owner’s representatives for the yacht and the Owning Company. There can be a 3 month trial period that would allow the agreement to terminate with 7 days notice for either party. After the trial period either party will have a 3 month notice period.