08 February 2019
Norway-based StormGeo and classification society DNV GL are to consolidate their fleet performance solutions under one banner. The agreement will combine DNV GL’s ECO Insight and Navigator Insight solutions with StormGeo’s FleetDSS and ship reporting solutions.
The combination of these solutions will result in a new offering that will be able to provide a complete fleet performance portfolio, including route advisory, navigation and planning, and fleet performance management services. The fleet performance centres, delivery, product development, and sales will be managed by StormGeo. The result is a combined fleet of more than 12,000 vessels that will receive a daily service from StormGeo in route advisory, weather intelligence, navigation and planning or fleet performance.
The consolidation creates the largest vessel performance data set and developer team in shipping, providing analytics that give customers even better data to enhance their operational decision making. The existing services will be maintained and strengthened within StormGeo, with all solutions brought together in the back-end, utilising an improved data infrastructure. DNV GL will retain a strong connection to the new solution through the 26.4% share in StormGeo it has held since 2014, as well as continuing technical support to ECO Insight customers. Users will also able to share data through DNV GL’s open industry platform Veracity.
The agreement is subject to the fulfilment of certain customary closing conditions. The partners expect that the transaction will close no later than March 2019.
“Partnering with DNV GL enables us to accelerate the development of our fleet performance management offering by pooling the competence, software, and insight of both companies,” said Per-Olof Schroeder, CEO, StormGeo. “Bringing these solutions together will give our clients even more ways to enhance the safety, efficiency, and transparency of their operations. Finally, it builds on our vision of establishing StormGeo as the leading provider of performance management solutions to the shipping industry.”
“Since its introduction in 2014, ECO Insight has grown into the largest performance solution in shipping, with installations on more than 2,000 vessels. In addition, already 22 industry partners connect their data and analytics to the solution,” said Trond Hodne, Senior Vice President at DNV GL – Maritime. “ECO Insight has already been an outstanding success, and by combining it with StormGeo’s services we believe we can offer our customers a solution that not only gives broader functionality but taps into a richer data set. This will give our customers new and exciting services and insights to boost their competitiveness. We look forward to seeing ECO Insight going on to further success as part of StormGeo.”