Norway-based ballast water treatment (BWT) specialist Optimarin expects to reach record sale and revenue numbers in 2019.
The company sold more than 100 systems and achieved record revenues over the past 12 months. However, 2019 is already shaping up to set a new standard, with the orderbook currently five times the size it was at this point in 2018, company CEO Tore Andersen said, adding that revenues are expected to double year-on-year.
“This is an overnight success that’s been 25 years in the making,” he said.
“I’ve been asked how have we managed to suddenly boost sales in this way. But that ‘sudden’ surge is the result of many years of dedication, investment and total focus on BWT.
“We have patiently developed the market’s most reliable, simple and effective UV technology – a technology that is tried and tested like no other, with no major overhauls or iterations in the last ten years.
“Now that the industry is mandated to install BWT systems we see that it’s becoming the easy choice.”
With the most recent orders taken into account, Optimarin has now sold close to 700 of its BWTS. Of these, more than 500 are installed and operational, of which around 250 are retrofits.
Stand out agreements in 2018 included signing a 36 system fleet deal with Ardmore, being selected for the USCG’s newbuild Offshore Patrol Cutter programme, extending its relationship with Saga Shipholding, securing new installations with Royal Caribbean, and moving into the aquaculture segment with a contract for DESS Aquaculture newbuild wellboats.
2019 has already seen a host of new contracts signed, encouraging Andersen to aim for a 100% year-on-year sales increase for 2019.
“There’s no reason at all that ambitious target can’t be achieved,”Andersen said.
“The ratification of the IMO Ballast Water Management Convention, allied to the USCG’s stringent requirements, fired a starting gun and, thanks to our established expertise, technology and the fact we were the first to achieve USCG compliance, we’re in an excellent position to meet that demand.”
Optimarin, which installed the world’s first commercial BWT system on the cruise ship Regal Princess in 2000, is now expanding its own business to meet demand.
“With the orderbook growing and the continued backing of our strong and stable investor base it’s the perfect time to build our business for the opportunities we so clearly see on the horizon,” Andersen concluded.