Optimarin forecasts record year

Malcolm Latarche

31 January 2019

Norwegian ballast treatment system maker Optimarin has experienced record sales and revenues in 2018 and is forcasting that this year will be even better.

Optimarin revealed that the previous 12 months saw it sell more than 100 systems and achieve record revenues. However, according to company CEO Tore Andersen, 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. Revenues, he says, are expected to double year-on-year.

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.

“This is an overnight success that’s been 25 years in the making,” said Andersen. “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.

With the most recent orders taken into account, Optimarin has now sold close to 700 of its Ballast Water Treatment Systems. Of these, more than 500 are installed and operational, of which approximately 250 are retrofits. 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,” said Andersen. “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 what it claims as the world’s first commercial BWT system on the cruise ship Regal Princess in 2000, is now expanding its own business to meet demand. In the past few weeks the firm has taken on new staff across its procurement, technical and project management divisions.