The maritime industry is a huge and dynamic sector, and the design, construction and delivery of new vessels is an important element of the newbuilding sector. It is responsible for the modernisation of shipping fleets, the meeting of environmental obligations, the global economy and the ongoing technological development of shipping. In this blog we will examine the importance of the newbuilding sector and we will also look at some of the key terminology that underpins it.
Why the Newbuilding Sector Matters
The is not just a segment of a ship’s life cycle – it’s the perpetual motion machine that drives the maritime industry forward. Here’s why:
1. Modernization of Fleets:
As the world speeds up, few industries are as vital to the supply chain as shipping. The modern, efficient vessels built in the newbuilding sector allow shipping companies to upgrade their fleets with fuel-efficient hull forms, state-of-the-art navigation aids, and streamlined propulsive systems, all of which help improve safety and operational performance. Replacing older vessels with new ones allows the industry to stay ahead of the curve and keep up with ever-growing global trade requirements.
2. Environmental Compliance:
As environmental regulations persist, vessels must be built to the latest standards. The newbuilding sector focuses on improving the environmental performance of new ships with technologies that reduce emissions and minimise the impact on the sea and the environment. These are the greenest ships ever built – vital to the industry’s objectives to decarbonise and combat climate change.
3. Economic Growth:
Building new ships is one of the most important economic activities in the world. Shipyards worldwide employ hundreds of thousands of people and are the backbone of many other industries, from steel to electronics. Moreover, the manufacturing and delivery of new ships allow for additional and more efficient cargo and people transportation, thus increasing international trade and economic development in countries hosting the biggest shipyards, especially in Asia (South Korea, China, and Japan).
4. Technological Innovation:
Novelty is also found in the newbuilding sector, serving as an innovation engine. Every year, new testbeds for new concepts are launched: whether it is a new type of hull design with improved energy efficiency, new propulsion systems, or automated navigation systems.
5. Safety Enhancements:
Safety is paramount in maritime operations, and the newbuilding sector plays a critical role in improving it. Today’s ships are fitted with the latest safety equipment and technologies, from modern navigation systems to structural improvements. These new designs protect crew and cargo and enable ships to continue operating safely in the challenging conditions of the World’s oceans.
Key Terms in the Newbuilding Sector
The sector is so complex that it can be challenging to grasp specific crucial terms. Here’s a little glossary. Newbuilding The industry uses several measures for ship sizes, but the most common, and the one you’ll see most in the news media, is deadweight tonnage (dwt). Dry cargo freighters, such as bulk carriers, are measured in dwt, as are cargo ships like container ships. Tankers, which carry liquids such as oil or chemicals, are defined by the cargo they have, such as crude oil, product or chemical. Ships designed to transport passengers are measured in berths, with a berth being the size of a cabin.
1. Keel Laying:
Keel laying is the beginning of a ship; laying the keel in the building dock commences the ship's assembly and is considered one of the most critical milestones in the shipbuilding process.
2. Sea Trials:
Before a new ship can be handed over to its owner, it has to be taken for sea trials. Sea trials are tests conducted at sea to check the performance and seaworthiness of the newly built ship. During the sea trials, speed, manoeuvrability, equipment functioning, and safety systems are checked thoroughly to see if everything is in order.
3. Hull:
The hull is a ship's main component, giving it buoyancy and structural integrity. Building the hull is one of the first major steps of shipbuilding and the basis for installing all other components and systems later.
4. Outfitting:
After the hull is complete, the ship can be outfitted with all the machinery, systems, and equipment needed to operate it. During this phase of shipbuilding, propulsion systems, electrical networks, living quarters, and many other components are installed.
5. Classification Societies:
Classification societies are independent, non-governmental organisations that develop and manage technical standards for the construction and operation of ships, conduct surveys and inspections to verify compliance with those standards, and issue certificates of class. Classification societies set standards for everything from safety and environmental performance to structural integrity. Some well-known societies include Lloyd’s Register, DNV GL, and the American Bureau of Shipping (ABS).
6. Shipyard:
A shipyard is a plant that builds, repairs, and maintains ships. The major shipyards are concentrated in maritime-oriented countries such as Korea, China, Japan, etc., as these countries have many advanced shipbuilding capabilities.
7. Block Construction:
In the meantime, modern ships are constructed using block construction. This technique implies building a ship from large, ready-made blocks that are later put together. In my opinion, this technology simplifies the construction process and considerably reduces the building time of a ship.
8. Dry Dock:
A dry dock is a boatbuilding facility that can be emptied of water to expose the hull and other parts beneath a ship's surface. Dry docks are essential for both the construction of new ships and the repair or maintenance of existing ones.
9. Launch:
The launch is the most important moment during a ship's construction process. It is when the vessel is moved from the shipyard into the water for the first time. It is the moment when construction is done and outfitting and testing are about to begin.
10. Deliver:
The final step of delivery involves transferring the completed vessel from the shipbuilder to the shipowner after final inspections, documentation, and the transfer of title. This concludes the newbuilding process and the beginning of the ship’s operational life.
11. Contract:
In the newbuilding sector, a contract would be concluded between the shipowner and the shipbuilder that lays down the mode and conditions of the newbuilding project, such as the timetables, costs, specifications and penalties for a delay. A properly drafted contract can guarantee the obligations between the two parties and the project's success.
12. Green Technologies:
Green technologies are new technologies designed to reduce the environmental impact of shipping. Examples include the use of alternative fuels such as LNG and hydrogen, energy-efficient hull designs, emissions-reducing equipment such as scrubbers, and so forth. With environmental concerns rising, green technologies are increasingly seen as a vital component of the newbuilding sector moving forward.
13. Automated Ships:
Ships that can navigate and control themselves without human intervention are now considered for future maritime operations. Known as automated ships, these vessels will be equipped with sophisticated systems allowing them to sail without human intervention, save for some minimal functions. They represent the future of shipping, increasing efficiency, reducing operational costs, and boosting safety.
The newbuilding sector is the beating heart of the maritime industry, guarantor of the continued modernisation of the world fleet, motor of technological innovation, guardian of the environment, and key generator of economic growth. The ability to speak the language and understand the main terms and concepts of the newbuilding sector will help us understand its intricacies and its pivotal role in shaping the future of shipping.
If you are a veteran in the sector or have started learning everything about it, you may have heard about the newbuilding sector. The history of the newbuilding sector is constantly being written, as the maritime industry continues to evolve and change. It remains the sectors which will set the pace toward a more efficient, safe and sustainable future.
Understanding the Market
The newbuilding market is the maritime shipping industry's most dynamic and multifaceted aspect. It is a system in which the behaviour of economic, technical and regulatory agents are strongly interdependent and have a significant impact on the global economy. Who are the leading players and the main drivers influencing the newbuilding market? This guide aims at providing answers to these questions.
Major Shipbuilders:
The shipbuilding industry is a global business with a handful of large companies that specialise in certain areas of expertise and build the ships that carry global trade.
1. Hyundai Heavy Industries (South Korea):
Hyundai Heavy Industries is one of the world's largest and most famous shipbuilding companies. It offers a one-stop service from design to construction and provides nearly all shipbuilding products, such as container ships, tankers, and specialized vessels. It plays a vital role in meeting the global need for new ships through the world's best facilities and technology as well as long-time experience.
2. Daewoo Shipbuilding & Marine Engineering (DSME) (South Korea):
DSME is a leader in building technologically advanced ships, such as LNG carriers, offshore platforms and submarines. The company is famous for its quality (it has received the ISO 9001 quality standards certification) and ingenuity (it earned the Deming Prize, recognizing quality management systems, and is known for its high-tech wonders).
Possessing one of the most modern shipyards in the world, DSME currently employs about 14,000 people.
3. China State Shipbuilding Corporation (CSSC) (China):
CSSC is the largest shipbuilding group in China and one of the most influential players in the global merchant fleet market. CSSC produces everything from commercial cargo ships to military vessels as a state-owned enterprise. Its extensive production capacity and strategic relevance to China’s maritime ambitions make it an important actor.
4. Mitsubishi Heavy Industries (Japan):
But Mitsubishi Heavy Industries, one of the largest shipbuilders in Japan, is also a company with a reputation for technological innovations and a versatile approach to building ships forubishi Heavy Industries has maintained its position in the domestic and overseas shipbuilding markets.
Major Classification Societies:
Classification societies are autonomous entities that set and oversee technical standards for ship design, construction, and operational maintenance. They are crucial in ensuring that new ships meet the requisite safety, performance, and environmental norms.
1. Lloyd’s Register (UK):
Lloyd’s Register is a classification, certification, and technical advisory organisation that enables ships and offshore structures to operate safely and reliably. Founded in 1760 as a marine classification society, Lloyd’s Register has since developed into a global engineering, technical, and business services organisation employing around 7,700 people in 75 countries.
2. DNV GL (Norway):
DNV GL is one of the world’s largest classification societies, providing technical assurance and software solutions to the maritime and energy sectors. The company’s expertise in sustainable and energy-efficient technologies is a significant resource for shipbuilders and operators looking to adhere to modern regulatory standards.
3. American Bureau of Shipping (ABS) (USA):
ABS largely deals with establishing and verifying standards for the planning, construction, and operational management of ships and offshore units. With a strong presence in the United States and growing influence worldwide, ABS is a major player in monitoring and enforcing safe and environmentally responsible standards for ship operation.
Market Demand Drivers:
A particular ship type will be demanded by a mixture of factors reflecting the wider economic, technological, and regulatory context. This simple insight is important since anyone engaged in the maritime sector needs to understand which forces are likely to drive the demand for a certain type of ship.
1. Global Trade Volumes:
When trade volumes expand, new ships are needed. More shipping capacity is needed to move more goods. This is particularly true for container ships, bulk carriers, and tankers—the global trade workhorses.
Impact: higher trade volumes increase the demand for these ships, which leads to growth in the newbuilding market.
2. Economic Conditions:
Economic activity in various geographical areas provides the impetus for shipping activity. Strong economic times create a higher demand for shipping activity as a byproduct of the necessity of transporting goods to purchasers. Conversely, bad economic times can reduce the demand for shipping and cause the postponement or outright cancellation of new ship orders.
Impact: Economic conditions encourage shipping companies to grow their fleets, whereas economic uncertainty leads to more restrained newbuilding investment planning.
3. Technological Advancements:
Technological innovation is a prime driver of demand in the newbuilding market. The ongoing development of ship design, propulsion, and other environmental technologies creates a demand for new ships with improved energy efficiency, safety, and environmental performance.
Impact: The development of LNG-powered ships, hybrid propulsion systems and innovative ship technologies will make it even more critical for companies to buy technologically advanced newbuilds, as they strive to stay at the cutting edge of efficiency and compliance.
4. Environmental Regulations:
Tighter environmental regulations are the most significant driver of the newbuilding market. The IMO 2020 sulfur-cut and impending GHG emission-cut targets force cargo owners to order proprietary vessels that achieve compliance.
Impact: Meeting these operational requirements drives demand for ships fitted with scrubbers, LNG propulsion, and eco-friendly technologies. These trends will likely intensify as environmental concerns become increasingly integral to global shipping practices.
The newbuilding market is a dynamic environment influenced by shipyards, classification societies and shipping companies. Global trade volumes, the state of the world economy, technological innovations and environmental legislation drive the demand for new ships.
If you’re buying and selling new ships, knowing what goes into this equation is essential. The newbuilding market is a window to that future: as the trajectory of the maritime industry takes shape, newbuilding orders will certainly reflect this. The increasing speed of global trade will only put more pressure on shipping lines to have the most efficient and environmentally compliant vessels in their fleet, so the newbuilding sector will be one of the most essential parts of the maritime world going forward.
Guide to the Newbuilding Process
Newbuilding in the maritime sector is a multistep, intricate, and elaborate process. From the first enquiry to the final contract negotiation, a great deal of careful planning, collaboration, and execution is involved. What makes the entire process challenging is that the client not only has to determine the appropriate vessel configuration but also has to comply with a myriad of industry rules and regulations. Here’s a step-by-step guide to newbuilding.
Step 1: Initial Inquiry and Feasibility Study
Gathering and Understanding Client Needs:
The first task in any newbuilding is analyzing the client's needs, which are elicited through detailed discussions concerning all aspects of the vessel to be built, namely, vessel type, capacity, technological features, operational needs, and regulations.
1. Ship Type:
Container Ships: Designed for transporting containers.
Bulk Carriers: Built for bulk cargo such as grain or coal.
Tankers: Used for transporting liquid cargo like oil or chemicals.
Specialized Vessels: LNG carriers, offshore support vessels, and other niche types.
2. Capacity:
What size of the vessel and capacity does the client need? In the case of container ships, the critical number is TEU (Twenty-foot Equivalent Unit); for bulk carriers, the paramount data is DWT (Deadweight Tonnage).
3. Technology:
Propulsion Systems: Options include conventional diesel engines, LNG propulsion, and hybrid systems.
Eco-friendly Technologies: Consider scrubbers, ballast water treatment systems, and energy-efficient hull designs.
Automation and Digitalisation: Discuss innovative ship technology and advanced navigation systems to optimise operations.
4. Operational Requirements:
Understand the routes and trading areas where the vessel will operate.
Identify any specific cargo handling requirements.
Discuss crew accommodation needs and safety features.
5. Regulatory Compliance:
Make sure the design and construction of the vessel will meet appropriate international and regional standards and conventions, such as those of the International Maritime Organization (IMO).
Conducting a Feasibility Study
But before we do that, we must first consider whether this is a viable project. How does the ship meet market conditions, regulatory requirements, and the fiscal feasibility of the newbuild?
1. Market Conditions:
Analyze current and future market demand for the specific vessel type.
Assess the level of competition and market saturation.
Assess the economic indicators of global trade volumes and fuel prices that might impact the shipping industry.
2. Regulatory Requirements:
Read applicable maritime law such as SOLAS (Safety of Life at Sea) and MARPOL (International Convention for the Prevention of Pollution from Ships).
Ensure the vessel complies with emission standards and other environmental laws.
3. Financial Viability:
Estimate the construction costs, including materials, labor, and technology.
Explore funding options such as loans, leasing, or government subsidies.
Calculate the Return on Investment (ROI) by projecting potential revenue and the payback period.
Step 2: Design and Specification
Role of Naval Architects and Engineers:
After the feasibility study shows that the project is viable, the shipbuilder will contract with naval architects and engineers to translate the client’s needs into a design.
1. Initial Design:
Conceptual Design: Develop initial design concepts that align with the client’s requirements.
Preliminary Drawings: Preliminary drawings and sketches of the vessel’s basic layout and features.
2. Detailed Design:
Structural Design: Define the hull structure, select materials, and determine construction methods.
Hydrodynamics: Optimize the hull form to improve fuel efficiency and overall vessel performance.
Drafting Technical Specifications
Extensive technical specifications are necessary to direct the construction process and to help guarantee that the vessel has all the features, safety provisions and regulatory approvals it needs to function correctly.
1. Hull Design:
Define the dimensions, shape, and materials of the hull.
Specify the requirements for structural integrity and durability.
2. Propulsion Systems:
Specify the type of engine, power output, and fuel requirements.
Include details on auxiliary systems such as generators and boilers.
3. Onboard Technology:
Outline the navigation and communication systems.
Specify cargo handling equipment, safety systems, and accommodation facilities.
Step 3: Shipyard Selection
Criteria for Evaluating Shipyards:
Choosing the right shipyard is crucial to the success of the newbuilding project since the yard needs to be capable of delivering the vessel on budget, on time, and in compliance with the quality requirements.
1. Reputation:
Review the shipyard’s history and reputation within the industry.
Seek references from previous clients to gauge the shipyard’s reliability and quality of work.
2. Past Projects:
Examine the shipyard’s portfolio of completed projects.
Assess the quality and complexity of the vessels they have previously built.
3. Capacity:
Ensure the shipyard has the capacity to handle the project’s size and complexity.
Check the current workload and timelines to ensure your project can be accommodated.
4. Technological Capabilities:
Evaluate the shipyard’s technological infrastructure and innovation capabilities.
Consider the availability of advanced manufacturing techniques and equipment.
Different Contract Types:
1. Fixed-Price Contract:
Implication: The shipbuilder agrees to deliver the vessel at a set price.
Risk: Any cost overruns are the responsibility of the shipbuilder.
2. Cost-Plus Contract:
Implication: The client agrees to pay the actual costs of construction plus a fixed in advance fee.
Risk: The higher cost can reasonably be passed on to the client, thus increasing the project cost.
Essential Contract Clauses:
1. Delivery Dates:
Specify the expected delivery date and outline the conditions for delays.
2. Penalties for Delays:
Build in penalties if the shipbuilder fails to deliver on time.
3. Quality Guarantees:
Ensure the contract includes clauses that guarantee the quality of construction and materials.
Specify warranty terms and conditions for addressing any defects.
4. Payment Terms:
Specify the due dates of instalments, first deposits, progress payments and final payment after delivery.
5. Change Orders:
Outline procedures for handling any changes in specifications or design during construction.
6. Dispute Resolution:
Include mechanisms for resolving disputes, such as arbitration or mediation.
Thanks to a systematic approach to the newbuilding process, all relevant steps in a maritime project are considered, addressed and ultimately managed professionally. Through the process – from establishing a client brief and feasibility studies to addressing the requirements of naval architects, selecting an appropriate shipyard and negotiating a sound contract – the shipowner is in a position to successfully control the newbuilding process and to eventually deliver a vessel that satisfies all operational, technological and regulatory requirements.
Construction Phase
Each phase must be planned, coordinated, and synchronised with the others. Each is important for building a ship of the highest possible quality, meets the applicable standards and specifications, and is ready for its intended use. In this blog, you will learn about the most critical phases of shipbuilding, why they are essential for building a ship and what steps must be taken to complete each phase.
Step 1: Keel Laying
Significance of the Keel Laying Ceremony:
The keel laying ceremony is one of the most typical and significant milestones in shipbuilding, marking the beginning of construction.
Milestone event: It is the formal start of the actual assembly of the ship and is celebrated as a significant milestone for the shipyard and the client.
Foundation of the Ship: The keel is the vessel's backbone, the basis for constructing the ship’s hull.
Ceremonial Significance: In many traditions, coins or tokens are placed beneath the keel for luck. Attendance by shipyard officials, company executives and, sometimes, dignitaries is standard.
Project Commencement: The laying of the keel marks the commencement of the shipbuilding project with a celebratory ceremony.
Step 2: Hull Construction and Assembly
Overview of the Hull Construction Process:
When the keel is laid, the next step is building the hull, involving several crucial milestones.
1. Material Procurement:
Steel: The primary material for the ship’s hull, sourced according to the contract's specifications.
Other Materials: Depending on the ship's design, aluminium, composite materials, and special coatings might also be needed.
2. Fabrication:
Cutting: the steel plates are cut into desired pieces. Steel cutting is done with technologies including the computer numerical control (CNC) machines and the plasma cutter.
Shaping: The cut plates are bent and shaped to the shape of the section drawn according to the specifications to form the hull's structure.
Pre-assembly: Sub-assemblies are built in shops before being moved to the assembly area.
3. Assembly:
Block Construction: The vessel is constructed in large, pre-outfitted blocks. Modularisation allows the construction of huge objects that would otherwise be impossible by a single individual.
Welding: This precise type of welding ensures the blocks are securely joined together and have the appropriate strength and durability.
Erection: The prefabricated blocks are brought to the building dock and installed into the complete hull configuration.
Quality Control Measures and Role of Classification Societies
Quality Control Measures:
Inspections: Inspections during fabrication and assembly ensure that the construction is built per design specifications and assembly code requirements.
Non-destructive Testing (NDT): For example, ultrasonic testing and radiography detect internal flaws in welds and materials without harming them.
Dimensional Checks: The number of go/no-go checks depends on the level of precision required; in the last stage, these are known as dimensional checks to ensure that every part conforms to tolerances and fits together as it should.
Role of Classification Societies:
Classification: This vessel complies with the standards set by a classification society (eg, Lloyd’s Register or DNV GL) for cargo safety, environmental protection, and performance.
Surveys: They conduct regular surveys throughout the construction process.
Certification: Once the vessel has met all the standards, it can be certified and handed over. Indeed, the vessel is ‘seaworthy’.
Step 3: Outfitting
Outfitting Process:
The outfitting can be completed, affixing machinery, systems and quarters inside the hull.
1. Installation of Machinery:
Main Engines: The main propulsion engines and associated systems are installed.
Auxiliary Systems: Generators, boilers and other auxiliary systems are installed to support ship operations.
2. Electrical Systems:
Power Distribution: Electrical panels, wiring, and other power systems ensure the ship’s electrical systems are distributed in a usable way.
Control Systems: Advanced control systems are installed for navigation, communication, and machinery operation.
3. Accommodation Spaces:
Crew cabins, lounges and messes: They are typically equipped to allow the crew to live comfortably.
Equipment for Safety: Provide safety apparatuses, including lifeboats, a firefighting system, and other emergency apparatus.
Testing Procedures
1. Propulsion Systems:
Dock Trials: These are the first tests and milestones to be completed in the dry-dock, before the vessel leaving the dock, where the vessel’s engines, propellers and rudders are put to the test.
Sea Trials: Open water tests check propulsion systems in the real world.
2. Navigation Systems:
Functionality Tests: radar, GPS, and autopilot systems are tested to ensure accuracy and reliability.
Integration Tests: All systems are tested to ensure they work together seamlessly.
3. Safety Equipment:
Fire Drills: Fire drill is organised to check the readiness of the firefighting equipment and the crew during emergency.
Lifeboat Launch: Lifeboats and other emergency gear are tested to make sure they can be launched quickly and efficiently if needed.
Step 4: Sea Trials
Purpose of Sea Trials:
After outfitting and dock trials, the ship proceeds to sea trials to verify its performance and system functionality during operations at sea.·
Performance testing:
A series of sea trials validate key performance indicators like speed, fuel economy and manoeuvrability.
System Verification: These trials verify that all onboard systems, from propulsion to navigation, function as designed under operating conditions.
Regulatory Compliance: The trials ensure that the vessel meets all safety and environmental regulations.
Conducting and Evaluating Sea Trials:
1. Speed Tests:
Full Speed Test: Measures the vessel's maximum speed.
Cruising Speed Test: Assesses the ship’s performance at typical operating speeds.
2. Maneuverability Tests:
Turning Circle Test: Determines the vessel's turning radius.
Zigzag Test: Evaluates the ship's response to steering inputs.
3. Equipment Functionality:
Propulsion Systems: Engine, propeller and rudder performance is checked for conformity to design objectives.
Navigation Systems: Navigation systems are tested for proper function.
Safety Equipment: Lifeboats, firefighting systems, and other safety gear are verified for functionality.
4. Documentation and Reporting:
Data Collection: Test results and performance data are recorded during sea trials.
Evaluation: The data is analysed to determine whether the ship meets the required standards and specifications.
Feedback Loop: All the problems identified in the sea trials are resolved before the vessel is delivered for operation.
These ships are put together from bottom up, progressing from keel laying to sea trials in several steps. From the symbolic beginning of keel laying to the rigorous process of sea trials, every step is essential in building the ship according to the highest standards. This allows shipyards and their clients to guarantee that the product meets all the requirements of the international existing regulations toto be safe for the crew and the cargo and reliable to be efficiently used at sea.
Delivery and Post-Delivery Process
A newbuilding project's delivery and post-delivery phase is the final step of an extensive and technical ship construction process. These steps are vital to providing a functional vessel and ensuring all contractual and regulatory requirements are fulfilled before the ship is handed over from the shipyard to the shipowner.
Step 1: Delivery
Final Inspection:
Once the client confirms that she is satisfied, the formal handover takes place. Before the formal handover, the client and the classification society conduct an in-depth inspection of the vessel to ascertain that it has been constructed to the agreed specifications and complies with applicable regulatory requirements.
1. Client Inspection:
Pre-Delivery Survey: The client and its representatives conduct a detailed survey of the ship, mainly checking that all systems, machinery and equipment meet the contract specifications and quality standards.
Operational Testing: The client may request tests to verify the functionality of critical equipment (e.g., running the propulsion engines, checking navigation systems, testing lifeboats).
Identification of Defects: If any defects are found during the inspection, they are recorded, and the agreement states that the shipbuilder must remedy these defects before delivery of the vessel.
2. Classification Society Inspection:
Classification: The classification society monitors the design and construction of the ship to verify compliance with all applicable technical standards. • Verification: The classification society conducts one final survey before launching the ship to validate that it complies with every regulatory requirement and safety standards.
Certification: When all is well, the vessel obtains the necessary certificates, such as the Safety Construction Certificate, from the classification society, affirming that it is in a condition suitable for service at sea, and that it meets the requirements of the international conventions.
Delivery Ceremony and Formal Handover:
With delivery, the shipbuilder formally hands the vessel to the client in a ceremony.
1. Delivery Ceremony:
Formal Event: The delivery ceremony marks the formal completion of the newbuilding project and is attended by representatives from the shipyard, the shipowner, the classification society, and sometimes shipping industry dignitaries.
Speeches and Presentations: At the commissioning ceremony, stakeholders often give speeches discussing how the project went, the features of the vessel, and the boat's importance for the client’s operations.
2. Formal Handover:
Handover Protocol: The formal handover process involves signing official documents, such as the delivery and acceptance certificate, which confirms the transfer of ownership from the shipbuilder to the client.
Key Presentation: Symbolically, the shipbuilder presents the client with the vessel’s keys.
Flag Raising: The ship is formally registered under a flag state and the national flag is hoisted at the ceremony with the ship ready to sail on its first voyage.
Step 2: Post-Delivery Support
Warranty Terms:
The support continues even after delivery, with warranties and maintenance agreements and technical support in case of problems. The shipbuilder remains in contact with the client for a long time to maintain and even improve the vessel’s functionality.
1. Warranty Period:
Duration: Warranty periods vary from one to three years, depending upon the contract terms.
Coverage: The warranty covers defects in material and workmanship. For the duration of the warranty period, the shipbuilder is obligated to repair or replace defective materials and/or workmanship at no cost to the shipowner.
2. Claims Process:
Notification of Defects: The shipowner must notify the shipbuilder where defects are found during the warranty period.
Timer: The shipbuilder must fix the defects within a certain time frame to ensure that the vessel can continue to run smoothly.
Maintenance Agreements:
1. Preventive Maintenance:
Scheduled Services: Maintenance agreements generally consist of regular inspections and services to ensure the vessel is in top working condition. Inspections help to prevent cases of costly ship-breakdown and will extend the lifespan of your ship.
Parts and labour: Besides covering the costs of essential maintenance tasks, they also offer the shipowner the comfort of knowing that their ship’s designers will perform any maintenance competently.
2. Emergency Repairs:
Response Time: Maintenance agreements might also stipulate for emergency repairs, particularly in case of unforeseen mechanical or technical problems.
Support Services: The shipbuilder or its authorised service provider will provide on-site support or remote troubleshooting to quickly resolve urgent problems.
After-Sales Support:
1. Technical Support:
Consultation Services: While already providing after-delivery technical support to the shipowner, the shipbuilders will be technically available to address any operations-related issues and questions from the shipowner.
Training Programmes: Shipbuilders might offer training programmes for the crew, especially in the operation and maintenance of new systems and technologies installed on the vessel.
2. Spare Parts Supply:
Inventory Management: Shipbuilders often help maintain spare parts inventories so critical components are on hand when needed.
Support Logistics: The smooth provision of spare parts to many locations worldwide is necessary for the ship to operate with minimal time loss.
Importance of Client Feedback and Performance Reporting
But post-delivery customer engagement is necessary not only to keep the vessel in service but also to continue improving the shipbuilding process.
1. Client Feedback:
Continuous Improvement: Shipbuilders can improve over time and remain competitive by soliciting feedback on the process, product and service. Feedback on the vessel's performance, the delivery process and after-sales support can be of value.
Surveys and Reviews: Various shipbuilders often conduct surveys and reviews to gauge customer satisfaction and identify areas for improvement.
2. Performance Reporting:
Operational Data: Regular reporting on the vessel's performance in service will highlight ongoing issues and opportunities for improvements with future builds.
Feedback Loop: This data allows you to create a feedback loop where insights from one project can inform and improve the next, creating a cycle of continual innovation and product enhancement.
3. Relationship Building:
Client Trust: Continuous contact with the client strengthens their trust in you and builds the relationship. Building a relationship helps create repeat business, because satisfied customers are more likely to return for future projects or refer others.
Market Reputation: The shipbuilder’s market reputation, built up by positive reports from clients about the performance of previous vessels delivered, and by client referrals/testimonials, raises the probability that a new client will choose the shipbuilder for their latest project.
The final delivery and post-delivery stages are crucial, as they allow for the final checks to ensure yard and proceed to the post-delivery and operation phases of the vessel. Responsive after-sales support for clients and continuous improvement help the shipbuilder build a credible market reputation that ensures long-term demand in the shipbuilding industry.
Regulatory and Compliance Aspect
How are the regulatory and compliance issues in the newbuilding segment of the maritime shipping industry? The regulatory and compliance standards set for the newbuilding segment of maritime shipping are essential as it helps to ensure that the safety of the ships and the environment is not hampered in any way. It also provides the ships can function with the highest operational efficiency possible. These regulations are set by the various international organisations such as the International Maritime Organisation (IMO) and reinforced by national laws.
International Regulations:
International Maritime Organization (IMO):
The IMO is a United Nations Specialised Agency responsible for setting standards for international shipping safety, security and environmental performance. Fundamental IMO conventions and standards affecting newbuilds include:
1. SOLAS (Safety of Life at Sea):
Purpose: Ensures ships meet minimum safety standards in construction, equipment, and operation.
Crucial Provisions: life-saving appliances, fire protection, emergency procedures, and construction standards that ensure the safety of the vessel and its crew.
2. MARPOL (International Convention for the Prevention of Pollution from Ships):
Purpose: Prevents pollution from ships through both operational measures and responses to accidental spills.
Key Provisions: Includes regulations on oil pollution, harmful liquid substances, garbage, sewage, and air pollution control.
3. ISM Code (International Safety Management Code):
Purpose: Provides a framework for safe ship management and pollution prevention.
Key Provisions: Requires ship operators to implement a Safety Management System (SMS) that covers safety policies, operating procedures, and environmental protection measures.
4. STCW (Standards of Training, Certification, and Watchkeeping for Seafarers):
Purpose: Sets minimum training, certification, and watchkeeping standards for crew.
Key Provisions: Addresses the qualifications of masters, officers, and watch personnel, ensuring they are adequately trained and certified.
5. Ballast Water Management Convention:
Purpose: Aims to prevent the transfer of harmful aquatic organisms through ships' ballast water.
Key Provisions: Requires ships to manage ballast water through treatment systems, maintain records, and comply with set standards for water discharge.
6. IMO 2020 Sulphur Cap:
Purpose: Drops the allowable sulphur content in marine fuels from 3.5 per cent to 0.5 per cent, substantially cutting emissions.
Key Provisions: Ships must use compliant fuels or install exhaust gas cleaning systems (scrubbers) to meet this environmental mandate.
National Regulations
Alongside the IMO regulations, core shipping nations implement more stringent or additional rules:
1. United States:
US Coast Guard (USCG) Regulations: Ships' safety, security and environmental protection, specifically on ballast water.
Environmental Protection Agency (EPA): Tries to tighten emission control areas (ECAs) around US waters. ECAs are intended to control air and water pollution generated by ships.
2. European Union (EU):
EU MRV (Monitoring, Reporting, and Verification) Regulations: Compels ships of 5,000 GT and above to report CO2 emissions when calling at an EU port.
Sulphur Emission Control Areas (SECAs): Ships must use low-sulphur fuel or exhaust-gas scrubbers in designated areas such as the Baltic and North Seas.
3. China:
Emission Control Areas (ECAs) China has delineated ECA areas with lower sulphur and other emission controls around the ports of busiest cities.
Green Ship Standards: Incentives and regulations to address emissions, and encourage energy-efficient ship design.
4. Japan:
ClassNK Standards: Japan’s classification society sets additional safety, environmental, and performance standards for ships.
Energy Efficiency Design Index (EEDI): This index sets strong requirements for new buildings to incentivize energy-efficient designs and mitigate carbon emissions.
Compliance and Implementation
It is also a complex, iterative process of compliance with international and national regulations that relies on the coordination and cooperation of various stakeholders, including shipyards, classification societies and shipowners.
1. Classification Societies:
Classification societies, such as Lloyd’s Register, DNV GL, and the American Bureau of Shipping (ABS), play a vital role in regulatory compliance:
Role: These organisations undertake routine surveys, inspections and tests throughout the ship's lifetime – from design through construction to operation – to ensure that it complies with safety, environmental and operational requirements.
Certification: Classification societies issue the necessary certificates after successful inspections that the ship meets all required international and national regulations. These certificates are required for the vessel to operate legally.
2. Shipyard Practices:
Shipyards are responsible for incorporating regulatory standards into every phase of ship construction:
Performance Standards: Shipyards are required to conform to stringent safety, environmental and operational standards, both of the IMO and national authorities, concerning the design, construction and sea-trials of the vessel.
Quality control: A schedule of inspections and checks is implemented at critical points in the process, with tests to ensure that the vessel complies with all regulations, including emission standards, safety equipment and operational systems.
3. Owner and Operator Responsibilities:
Shipowners and operators are ultimately responsible for ensuring that the ship remains compliant once in service:
Regulatory Compliance: The owner must maintain the vessel to comply with all international and national regulations during the entire lifetime of the vessel. The vessel has to keep its certificates (i.e., all necessary certificates have to be obtained before the inspection or survey), undergo inspections, and systems must be updated or upgraded to comply with changing standards.
Training and Management: The role of a well-trained crew and efficient safety and management systems cannot be overstated. They are the key to maintaining operational and safety requirements, including the ISM Code and STCW standards, ensuring the ship's compliance.
For newbuildings, regulatory and compliance issues are critical to safety of life at sea, the environment and efficient operation. The careful balance of the IMO’s international standards with the additional safety, environmental and performance requirements set by individual maritime nations, such as those of the European Union, ensures that vessels are built and operated at the highest levels of safety and efficiency.
These regulatory frameworks play a vital role in the day-to-day operations of shipbuilders, owners and operators. Safeguarding compliance is fundamental to ensuring that ships are fit for purpose, able to resist the challenges of the sea, and have sufficient safety, efficiency and environmental responsibility to support a healthy and meaningful global shipping industry. That’s why compliance ultimately safeguards human life, marine ecosystems' integrity, and international maritime trade's functionality.
Financial Aspect of Newbuilding´
Financial planning is crucial in shipping newbuilding projects. It is a critical consideration in assessing the feasibility of a project to ensure it can be completed on time and within budget. In this guide, we focus on the main financial aspects of newbuilding. This is intended to assist shipowners, shipbuilders, and other maritime stakeholders in setting a financial framework for newbuilding projects.
Part 1: Cost Estimation
At the onset of a newbuilding project, having a clear understanding of the costs is paramount. This not only helps in defining the actual financial need but also plays a crucial role in financial planning. The following are the main cost elements that should be considered.
1. Material Costs:
Raw materials: These are aluminium, composites and other specialised vessels
Specialized Equipment: This includes the propulsion system (engines), navigation systems, safety systems, and other essential machinery.
Accommodation Materials: Accommodation fittings, safety equipment and onboard systems including HVAC (heating, ventilation, air conditioning) and life-saving equipment.
2. Labor Costs:
Direct Labour: The wages paid for yard workers, seafarers, engineers, welders and other personnel involved in ship construction.
Indirect Labor: These are the costs associated with administrative, supervisory, and project management personnel who oversee the construction process.
3. Overheads:
Shipyard Overheads: Fixed costs associated with running the shipyard, such as utilities, rent, and equipment maintenance.
Project Management Cost the management of the project, including quality control, checking for compliance with the law, and supervision of the construction process.
4. Contingencies:
Risk Allowance: A percentage (generally 5-10%) is added to make up for unforeseen expenses or risks that could be encountered as the project is executed, such as delayed start, fluctuating prices of supplies, or regulatory changes that were unknown at the time the project was initially scoped.
Estimation Process
Provide a detailed and comprehensive breakdown of costs (an oversight in the original detail) that addresses all of the significant cost components.
Historical: If we once built something like this, how much did we pay? Cost estimates for projects, especially ones where we’re building another ship of the same class, are heavily informed by past estimates.
Supplier quotes: Get accurate pricing from suppliers for materials and equipment by requesting timely quotes.
Hourly Rates: Use current hourly rates and factor in any projected rate adjustments over the project's duration.
Part 2: Financing Options
A detailed cost estimation process must have been completed earlier to reach this stage. Financing for a new building project can be obtained through various means.
1. Bank Loans:
Commercial Loans: Traditional shipbuilding loans offer capital to build vessels from banks, where interest rates are either fixed or floating, set against the Leitzins (base rate) and repaid in instalments.
Conditions: Banks need financial projections in advance and a sound business plan. They will usually take the vessel or other assets as collateral for the loan.
2. Leasing:
Operating lease: The shipowner rents the vessel for a certain period and the vessel goes back to the leasing company at the end of the lease.
Financial Lease: At the end of the lease term, the vessel's ownership passes to the lessee, normally for a nominal consideration. The transaction is structured through the leasing company like a loan.
3. Government Subsidies:
Direct Subsidies: Cash given by government programmes to promote domestic shipbuilding or reduce shipowners' costs.
Tax incentives: Accelerated depreciation, tax credits and other subsidies for companies that make newbuild investments.
4. Export Credit Agencies (ECAs):
Export Financing: To facilitate the export of ships, ECAs provide financing services, guaranteeing payments to suppliers or insuring against political and commercial risks that might affect ship-buyers.
5. Shipyard Financing:Deferred Payment Plans: Some shipyards will finance their shipowners, paying out under a deferred payment plan during the vessel's construction or after delivery.
Part 3: Managing Financial Risks
It is important to keep a tight rein on financial risk to provide for financial contingencies. When potential delays are anticipated, shipowners can reduce financial risk to a minimum.
1. Cost Control:
Budget Monitoring: Periodically make sure the budget is on track by comparing it to actual expenditures.
Variances: Analyzing cost variances early on in a project is useful as it allows corrective action to be taken before serious cost overruns become apparent.
2. Contract Management:
Fixed-Price Contracts: Specifying fixed-price contracts with suppliers and subcontractors establishes a contractual basis for prices and limits increases in price.
Performance Bonds: These guarantee the performance of subcontractors, covering any loss if the project is delayed or standards are not met.
3. Currency and Interest Rate Risk:
Hedging: Shipowners can use financial instruments such as forward contracts, futures and options to hedge themselves against currency exchange rate fluctuations, and changes in interest rates that might affect the cost of a project.
Diversification: Diversifying funding sources and using multiple currencies can help spread and manage financial risks.
4. Contingency Planning:
Reserved Funds: Setting aside a portion of the budget as a contingency fund helps cover unexpected costs or delays during construction.
Scenario planning: Plan for multiple risk scenarios (e.g., a supplier going bankrupt or regulatory changes) so that you have a contingency plan for different challenges.
5. Insurance:
Insurance: Covers risks during the construction phase, such as damage to the vessel, accidents, liability claims, etc.
Post-Delivery Insurance: Upon ship's delivery, a comprehensive cover is required, including hull and machinery insurance, P&I (Protection and Indemnity) insurance, and war risk cover depending upon the trading routes.
The financial side of newbuilding is important for managing costs, securing the most appropriate funding, and mitigating risk. By taking a detailed approach to cost estimation, exploring financing options, and managing project risk through financial controls, all stakeholders can help ensure these shipbuilding projects are completed on time and on budget, leading to a vessel that is operationally efficient and financially viable.
Technological Innovations and Trends
The maritime industry is changing with advanced technological innovations to improve efficiency, sustainability and safety. The increased demand for eco-friendly designs and the continuous development of advanced digital technologies are impacting the shipowners’, operators’ and shipbuilders’ choices of new solutions, not only to comply with regulations but also to gain a competitive advantage in the global market. This blog will discuss the main trends in the newbuilding sector related to eco-friendly solutions and digitalisation and automation.
Eco-Friendly Designs and Technologies
Importance of Eco-Friendly Designs:
With increasing environmental problems globally, eco-friendly designs have become an integral part of the maritime industry. This is evident for several reasons.
Environmental Compliance: New emission regulations, such as the IMO 2020 Sulphur Cap, which mandates reducing marine fuels’ sulphur content, and upcoming greenhouse gas (GHG) emission targets, mean that the industry must reduce its environmental impact.
Operational Efficiency: Lower fuel consumption and emissions mean lower operational costs. Lower operational costs help shipowners compete in a turbulent market.
Market Demand: Investors and consumers are prioritizing sustainability, which is resulting in a growing demand for green vessels.
Sustainability Goals: Many companies have CSR programmes that link to the UN’s global sustainability programmes, so eco-friendly ship designs are imperative to achieving these goals.
Eco-Friendly Technologies:
1. LNG-Propulsion:
Benefits: Liquefied Natural Gas (LNG) propulsion systems emit significantly lower amounts of CO2, nitrogen oxides (NOx), and sulfur oxides (SOx) compared to conventional marine fuels.
Adoption: LNG propulsion is becoming the norm, especially in new container ships, tankers and cruise ships.
2. Scrubbers:
Purpose: The scrubbers filter out sulphur oxides from the exhaust gases so that ships can stay on traditional fossil fuel while still meeting the regulations of the International Maritime Organisation.
Types: Different scrubber systems exist, including open-loop, closed-loop and hybrid systems. These systems have different operating mechanisms depending on environmental conditions.
3. Ballast Water Treatment Systems:
Purpose: These systems prevent invasive species transfers from ballast water discharge, providing green compliance.
3Compliance: They are mandatory under the IMO’s Ballast Water Management Convention.
4. Energy-Efficient Hull Designs:
Techniques: Optimisation of hull shape, air lubrication systems, fins and ducts, other energy-reducing measures that act to reduce water resistance.
Payback: These designs reduce fuel usage and emissions, reducing operating and compliance costs.
5. Renewable Energy Sources:
Examples: Wind-assist technologies (eg, rotor sails, kites) and solar panels are becoming more common on ship design.
Benefits: These renewable energy sources complement standard propulsion, reducing dependence on fossil fuels and resulting in a lower emission rate.
Advancements in Digital Technologies, Smart Ships, and Automation
Digitaltechnologies:
1. Digital Twins:
Description: A digital twin is a virtual copy of a ship – a living representation that can be used for real-time simulation, performance monitoring and predictive maintenance.
Applications: Shipbuilders and operators use digital twins to improve design, validate systems prior to construction, and optimise operational performance by anticipating maintenance.
2. Internet of Things (IoT):
Implementation: Using the IoT, sensors and devices will collect real-time data for systems on-board the ship, from the engine, to cargo conditions.
Benefits: Real-time monitoring and data acquisition can be very beneficial, resulting in better decision-making, increased efficiency, increased safety, and lower operational costs.
Smart Ships:
1. Integrated Bridge Systems:
Features: Incorporated bridge systems combine navigation, communications and monitoring functions into a single intuitive interface.
Advantages: These systems improve situational awareness, reduce crew workload, and enhance safety in vessel operation by centralising ship control.
2. Advanced Monitoring Systems:
Functionality: Continuous monitoring of systems (such as machinery and hull condition and environmental parameters) would enable on-site adjustments, such as optimising ventilation or engine settings, and early detection of issues.
Benefits: These systems optimise maintenance schedules, minimise unexpected downtime and extend the ship's useful life.
Automation:
1. Autonomous Navigation Systems:
Capabilities: These systems allow ships to plan travel routes, avoid collisions and even dock without human intervention.
Impacts: Self-driving ships can improve safety by reducing human error and the need for a crew, allowing for more effective vessel operation.
2. Robotic Systems:
Applications: Robots are increasingly employed for cargo handling, hull cleaning, drone-based inspection and other tasks.
Benefits: By performing repetitive, tedious, or dangerous tasks, robotic systems increase efficiency, lower costs, and reduce accidents.
The technological changes in the maritime newbuilding sector are accelerating, driven by the relentless need of the industry to build greener, more digital and more connected ships. To achieve greater sustainability, maritime newbuildings need to adapt by adopting new propulsion systems such as LNG, more energy-efficient hull designs, and new technologies like renewable energy. Meanwhile, the digital twin technology, the internet of things (IoT) and intelligent ship systems will help to drive greater efficiency and better decision-making. Autonomous systems and robotics will help redesign the way maritime operations are conducted for more excellent safety and more cost-effective solutions.
As a result, shipowners and shipbuilders must stay at the forefront of these trends to design and build competitive, sustainable and futureproof vessels that will continue to operate in a more regulated and increasingly technologised global shipping environment.
Future Trends
What will the next generation of maritime newbuilding look like? The answer lies in the many game-changing technologies that promise to make ships more sustainable, efficient and safe. This industry has clear trends – from autonomous vessels to new propulsion systems, manufacturing processes and safety systems.
Autonomous Vessels:
1. Fully Autonomous Ships:
Concept: autonomous (uncrewed) ships, with the capacity to navigate and operate without human intervention, including advanced sensors, AI and decision-making systems.
Development: Ongoing trials are exploring autonomous ships in total. Adoption is likely gradual over the next decade.
Challenges: There are real challenges, such as new regulation structures, cybersecurity risks, and how to integrate with existing maritime infrastructure.
2. Remote-Controlled Ships:
Description: Managed entirely from a shore-based control centre, they are purpose-built so that no crew needs to be on board to control and constantly adjust the vessels in real time.
Advantages: Remote-controlled ships promise to reduce crew costs, increase operational safety as human errors are eliminated, and increase ship operations' efficiency overall.
New Propulsion Technologies:
1. Hydrogen Fuel Cells:
Function: Hydrogen fuel cells convert hydrogen and oxygen into electricity through a chemical process, with water as the only by-product.
Benefits: Zero emissions, high efficiency, and the potential for hydrogen to be produced from renewable sources make this technology a promising green alternative.
2. Battery-Electric Propulsion:
Usage: For short-sea shipping, ferries and inland vessels with shorter travel distances and charging infrastructure more available.
Advantages: Battery-electric propulsion systems are zero-emissions, more quiet operation, and lower maintenance costs than traditional engines.
3. Ammonia and Methanol Fuels:
Potential: Ammonia and methanol are two fuels with relatively low carbon footprint that could offer a replacement for traditional marine fuels.
Challenges: Large-scale adoption will require significant infrastructure investment, addressing safety concerns in production and handling, and scaling up production.
Hybrid Propulsion Systems:
Combi: Hybrid systems combine multiple energy sources: diesel, batteries and renewable energy (solar or wind).
Benefits: These systems enable flexible energy use, lower emissions and better fuel efficiency, allowing ships to switch between power sources depending on operating needs.
3D Printing and Advanced Manufacturing
Applications: 3D printing, or additive manufacturing, will allow the fabrication of complex sections, spares and fittings ‘on demand’, or aboard ship • Applications: 3D printing, or additive manufacturing, allows for the fabrication of complex sections, spares and fittings ‘on demand’, or aboard ship.
Impact: The use of 3D printing in shipyards reduces lead times, cuts production costs, and enhances design flexibility, allowing for more innovative and efficient shipbuilding processes.
Enhanced Safety and Security Measures:
Cybersecurity: Greater connectivity and ship automation make cybersecurity vital to prevent digital attacks on crew and cargo.
Advanced Safety Systems: Innovations in fire detection and suppression systems, as well as improved evacuation procedures, will enhance safety on board, reducing the risks associated with emergencies at sea.
With the rise of new technologies and future trends, the maritime newbuilding industry will be setting the stage for a new era of enhanced environmental sustainability, operational efficiency and safety. Autonomous ships, new propulsion solutions, 3D printing, and improved safety features will be the driving forces behind these developments, which will shape a more advanced and robust global fleet able to adapt to the demands of the future with more innovative, safer and more efficient ships. In that sense, the broader adoption of greener shipping solutions will not only help the industry to meet the pressing demand for more environmentally friendly vessels. Still, it will also set the stage for tomorrow's vessels to face future challenges with more agility.
Conclusion:
The newbuilding segment of the maritime shipping industry in particular epitomises how technological change, regulatory requirements, and economics are driving the evolution of world trade. Shipbuilders such as Hyundai Heavy Industries, DSME, and other significant players in the shipbuilding sector, coupled with shipping companies such as Maersk, MSC, and others, as well as classification societies such as Lloyd’s Register, DNV GL and similar entities, are involved in this very proactive sector, setting the agenda for the future of the maritime shipping industry.
It also requires a detailed knowledge of how to commission the construction of a new ship: from the initial enquiry, feasibility and design stages; through the selection of a suitable shipyard and putting together a contract; through construction, marking the critical stages with keel-laying, hull construction, outfitting and sea trials; through to delivery, with the appropriate warranties, maintenance agreements and ongoing feedback from the client to further refine future projects and ensure the ship’s long-term operational success.
Financial planning is very important in the new building process. This will include detailed planning about the estimated cost of materials, labour, and overheads, as well as getting funding through loans, leasing, or official finance. Risk management is also critical to help protect projects from financial problems.
Technological innovation is driving the sector, and the future will see greater adoption of eco-friendly ship design, digitalisation, intelligent ship systems and automation. Greater use of autonomous ships is already on the horizon, as are new propulsion technologies such as hydrogen fuel cells and battery-electric systems, all of which will lead to greater sustainability and operational efficiency.
In summary, the newbuilding sector is characterised by innovation driven by strict regulatory compliance and strategic financial management. The sector aims to design, build, and operate safer, more efficient, and environmentally friendly ships that will continue to support the globally important trade carried out by the world’s commercial shipping fleets.
Source:
ChatGPT
Picture:
ChatGPT
Comments