Develop a time-phased fleet renewal and retrofit sequence for [CompanyName] that aligns asset retirements, overhauls, and acquisitions across [FleetTypes] to meet [RegulatoryDeadline] while maximizing NPV under a [CapexBudget] constraint and [WACC] hurdle. Prioritize timing of dry-dock/maintenance windows to minimize lost capacity and match demand seasonality. Evaluate trade-offs between retrofit (e.g., scrubbers, alternative fuel conversions) and newbuild/vehicle procurement, considering lead times, charter/lease options, and residual values. Incorporate bunker/fuel cost forecasts and carbon pricing exposure to optimize when to switch technologies and routes. Model scenario bands (Base/Optimistic/Conservative) and stress-test for delays, supply bottlenecks, and berth/charging availability. Output format: (1) ≤120-word executive rationale; (2) Phase Plan table [Phase, Start, End, Assets, Action (Retrofit/Acquire/Retire), Capacity Δ, EBITDA Δ, Capex, Payback]; (3) Risk Register table [Risk, Likelihood, Impact, Mitigation, Trigger]; (4) ASCII Gantt by asset group with decision gates (DG1 Business Case, DG2 Contract, DG3 Execution); (5) Board recommendation with IRR/WACC comparison and sequencing logic.