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This company provides required international maritime training to assist companies in following maritime regulations.
Current CBT training programs are well established.
Currently the training programs are used on ~3,000 vessels with 90 – 100 clients.
There are about 8,000 vessels in the world who are covered by the regulations (so plenty opportunity to expand).
Most clients have been using the company for many, many years.
Competitive prices for training provided with good profit margins!
Limited competition in the space – only two major competitors.
CBT training is much more cost effective than instructor led.
Since the regulations are always changing, IMO meets every year to discuss regulation changes. Changes to regulations requires periodic updates to the CBT training modules. This Company charges a recurring 10% - 15% of the original sales price annually for updates to the programs.
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