Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 4016 APRIL 2017 • FOGHORN BUSINESSMATTERS As a leader in passenger vessel design, stability assessments and refurbishments, our vessels are not only beautiful, they’re also safe and efficient to operate while producing maximum profitability for owners. To bring Jensen on board for your next passenger vessel design or build, contact us at 206.332.8090 or visit our website at jensenmaritime.com. PASSENGER VESSEL DESIGNS: OPTIMIZED FOR PROFITABILITY I t seems I am always juggling a number of construction projects. I’ve built two dozen restaurants, half a dozen ships, and many complex projects for a mechanical contract- ing company that draws $50M in annual revenue. Not bad for a guy who can’t fix anything. Then again, that might be why my home basement reno- vation project is not going well. Operators find it very stressful to work with shipyards. This disconnect is natural; we are used to grinding it out a nickel at a time, watching all expenses and building revenue with hundreds and then thousands of customers. Shipyard contracts by nature are big, expensive, and typically foreign to our core expertise. We look to be in control and by the time we learn what we should have done, we might not have another project for years, if ever. One of my first lessons was that if the shipyard has an issue, then they have a problem. But if their issue is big enough, then you have a problem. I’ve had vessels whose work was badly estimated by the shipyard, only to have that loss become my problem. If that happens, you better pray that they have another customer behind you that can hopefully fund or delay your day of reckoning. Shipyards can’t build inventory to smooth out demand, and only have two types of business: too much or too little and both cases can easily impact your project. It is often difficult to figure out a project’s status. I watched the owner of dinner boat company buy a troubled shipyard and hit the casino boat building wave perfectly, growing Shipyard-Owner Experiences By Bob Shaw, Industry Consultant One of my first lessons was that if the shipyard has an issue, then they have a problem. But if their issue is big enough, then you have a problem.