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| Industry Responding to IMO Ballast Water Management Convention |
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| Monday, 01 February 2010 |
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OceanSaver announced today the signing of the world’s first major Ballast Water Management System (BWMS) contract for large ships. Hyundai Heavy Industries (HHI), the world leading shipbuilder, has secured OceanSaver Ballast Water Management Systems for three supertankers (VLCCs) on order for Oman Shipping Company (OSC). The contract is the first of its kind and signifies a breakthrough for IMO’s Ballast Water Management convention as well as for OceanSaver. “This is a milestone to be noticed,” explains OceanSaver’s CEO, Stein Foss. “It is a milestone for the Convention as the industry confirms the availability of suitable BWMS also in the large and complex ships segments and further, that the timeline for the introduction of the new Ballast Water Management regime is indeed fixed and must be taken seriously.” The contract is for supply of OS BWMS 6000 EX onboard three 317,000 dwt tankers currently on order at HHI for OSC. OS BWMS 6000 EX treats 6000 m3 ballast water per hour. According to Foss, the contract is a significant breakthrough for OceanSaver, marking its transition into becoming a major supplier to the maritime industry. “The global market for BWM systems is new and represents a massive opportunity. It is driven by regulations and is predictable, but all technologies need to go through a thorough, time-consuming and costly approval process”, he says. “We have crossed a crucial frontier in terms of technological development, and are now focussing on successful commercialisation and production. We have established a strong global network of highly capable agents and secured production capacity to accommodate significant orders this year and in years to come,” says Foss. Fit-for-purpose ballast water management systems have been the company’s sole focus since 2002. Following its successful pilot-project on car carrier Höegh Trooper in 2005, OceanSaver obtained Type Approval in April 2009. “We estimate the overall BWM market to be about USD 30 billion from 2010 to 2020. We expect to take a significant market share particularly within the tanker, LNG and chemical sector but also larger tonnage in general” says Foss. OceanSaver’s core focus lies in the large vessel market representing some 20% of the total by numbers but 40% by value at an estimated USD 12 billion. “We have clearly defined goals which include remaining in the lead and being established as one of the top 3 suppliers within our selected tonnage. This will secure rapid and sustainable growth over the next years,” concludes Foss. |
