Status Report of visit on 6th December 2022 & Kick off meeting notes

Introduction

•Arrow Monaco has been engaged to review the status and quality of build of the new-build Custom Line 140 hull number 3.

•The outfitting is taking place at the Custom Line/Ferretti facilities in Ancona.

•The following report illustrates the status of the build as of the 6th of December 2022 when the vessel was visited.

•The finished vessel will have the following arrangement and technical details:

NOTES ON KICK OFF MEETING UNDERTAKEN WITH CL PROJECT MANAGER (Lorenzo Fogar):

•The yard envisages the launch of the vessel towards the end of July 2023,  Yard indicates there could be a delay due to these uncertain times due to the supply chain crisis, however this will not at the moment influence the contractual delivery date,

•Delivery of the vessel is at the end of December 2023.  Yard confirms as of today there are no reasons for delays.  We will be monitoring this on a regular basis as indicated above,

•The vessel will be built to MCA charter class standards.  The OPT has been activated in the shipbuilding contract,  we have been indicated by Lorenzo (PM) that the Owner will most probably register the vessel for private use.

•There is a interior designer firm which has been appointed to review the interiors on the pre-contract stage, and during the build.  The stakeholders for this are Mr. Erik Egan and Mr. Joseph for L´Artigianato (located in New York),

•We would need to open a communication route with OT in order to take decisions throughout the project.

Conclusion

•This was the first visit to review the current conditions of the vessel at this stage.  Visits are programmed on a fortnight frequency,

•It has been established with the yard project manager, that Smartsheets will be employed to monitor the defects we find during our surveying of the vessel.  Yard to send link to their Smarsheets database,

•The fibreglass structure has been at the yard since June 2022, and a fair amount of outfitting has taken place on board the vessel, mostly on interior areas by joiners, piping, electrical, insulation subcontractors. 

•Exterior areas outfitting is taking place, however we can determine the yard is at it´s very initial stages on this matter,

•Engine room and technical areas are being outfitted, and have main deck hatches open in order to embark larger apparatus (main engines, switchboards, generators, others).  This also means upper deck hatch is open,  A fair amount of insulation has taken place on shell and bulkheads, but is yet to be completed on the deck due to the hatches being open,

•As this moment in time we do not envisage any critical items which could lead to any delays in delivery,

•We will monitor the current chain supply crisis and its repercussions on delivery of critical items on board.