Maritime Parts Marketplace

Kevin Ryan describes creating a B2B marketplace for the maritime shipping industry, focusing on emergency procurement of parts and repairs when ships are in port. The idea came from extensive industry research including maritime conferences and stakeholder interviews.

Key Points:

• Market Opportunity:

  • Multi-hundred billion dollar industry
  • Currently behind in technology adoption
  • Critical need for emergency parts/repairs when ships are in port
  • Example: When a ship's boiler breaks in Cartagena, they need immediate procurement solution

• Business Model:

  • Create Amazon-like marketplace for maritime industry
  • Focus on procurement and delivery of parts
  • Connect ships needing emergency repairs with parts suppliers
  • Platform to streamline the emergency procurement process

• Research & Validation:

  • Team member attended maritime conferences
  • Met with stakeholders across industry:
    • Ship owners
    • Data providers
    • Industry investors
    • Various maritime professionals
  • Identified clear pain point in emergency repairs/parts procurement

• Competitive Advantage:

  • Coming from outside industry allows fresh perspective
  • Industry stakeholders confirm need for solution
  • Currently in early stages with team of 4 people
  • Part of larger maritime industry investment thesis (alongside Boxhub container marketplace investment)