PRIME’s Projects Department deals with negotiations and signing of shipbuilding contracts and specifications, design plan approval and supervision of construction. Prior to signing any shipbuilding contracts its personnel visit the prospective shipyard and submit a report to PRIME’s top management including the yard’s track record.
The requirements of PRIME’s technical, operation, vetting and chartering departments are incorporated in the specification and plans signed and approved by the Project Department. Representatives of the aforesaid departments visit the newbuilding during construction.
This department has been involved so far with 18 newbuildings in South Korea (HHI, HMD, Samsung and Daewoo), Japan (Kyokuyo) and Europe (Brodosplit). The type of vessels built varies from LR1 and LR2 Oil / Product Tankers, MR Oil & Chemical Tankers, mid-size LPG / Ammonia Carriers and small Gas carrier.
For the tasks it performs apart of the in-house personnel and depending on the number of vessels being built at the same time, it may supplement its own staff by employing the services of first class consulting companies to assist in the plan approval and supervision, however, the overall control and final decisions on all aspects remains with PRIME’s Projects Department.