The maritime spare part market struggles with supply chain inefficiencies driving cost and complexity for end-users. The current supply chain suffers from several challenges:
1- Long Lead Times: Obtaining spare parts can take several months due to custom delays or shipping errors. Thus, ships frequently pay extra for their part to be transported by air freight. When parts are not available, critical delays can cost tens of thousands of dollars if a vessel is unable to leave port on schedule or even more if it fails inspection.
2- Limited Parts Availability: Approximately 50% of the world's maritime fleet was built over 15 years ago. This aging fleet faces limited availability of parts as OEMs phase out older product lines or go out of business. Shipowners are often forced to replace complete systems because of one unavailable spare part.
3- High capital requirements: There are large amounts of capital tied up in inventory, materials, and equipment. This is often a problem for OEMs who are forced into deciding to risk another large production batch or to phase out a product as it moves towards the end of its life cycle.
4- Extensive logistics cost: The maritime spare part market has an extensive logistics cost. Shipping can often cost more than the price of the part. Many steps are involved including customs and transportation. The supplier has to estimate when the ship will be in port. By just a couple hours, the supplier may miss the ship, which creates additional issues as now the part has to be forwarded to the next port of call.
5- Large environmental footprint: 33% of global CO2 generated from fossil fuel is related to transportation. There are many consequences with shipping such as congestion, health issues, and a damaged ecosystem. The maritime industry is working to address this, but it takes time.
Ivaldi Group has a solution to each of these challenges by shipping files - not parts.
1- Shorter Lead Times: There is no need to wait weeks for parts to be delivered or to risk custom delays. Our parts are manufactured locally and shipped within 24 hours of ordering.
2- Enhanced Availability: Even if the part is an unobtainable, Ivaldi can design and ship a range of parts within 24 hours. This reduces the time spent searching for vendors.
3- Lowered Inventory Cost: You no longer have to invest in capital intensive batch production or supporting equipment no longer core to your portfolio. By printing on demand, you can achieve zero inventory.
4- Reduced Logistics Cost: By reducing the need for shipping, storage, and customs work, we simplify the process of getting parts where they need to be. We also save costs for both the OEM and the end user.
5- Reduced Environmental Footprint: By printing on-demand close to your end user, you reduce environmental footprint such as material waste from obsolete parts. Recyclable and eco-friendly materials allow for local material recovery and upcycling of old parts. Also, new upgrades that can help with fuel efficiency and environmental impact can be brought faster to the market in a more cost-effective way, lowering barriers to adoption.
Ivaldi Group works hard to simplify the logistics system in the maritime industry by eliminating the need for a manufacturer to anticipate market demand when producing spare parts. We believe local manufacturing can be a positive force for OEMs, ship managers, vessel owners, and the environment. As such, we want the future of manufacturing to be powered by Ivaldi Group.
Clarkson Marine Fleet