AWT Shares Acquired by StormGeo

marinelink.com
Tuesday, January 28, 2014

Applied Weather Technology, Inc. (AWT) announced the conclusion of an agreement with weather specialist company StormGeo under which the full shareholders stock in the company has been acquired by Norwegian based StormGeo A/S .

Following the acquisition, AWT will continue to deliver its range of ship route advisory services and maritime weather and decision support software products under the AWT brand name to ship owners and operators worldwide.

AWT Chairman and founding owner Jung Soo Kang describes the deal as a "friendly acquisition that is in the interests of both companies, their employees and customers." According to AWT CEO Haydn Jones, "The two companies have complementary strengths: StormGeo is very strong in the offshore oil and gas sector, AWT is a brand leader in routing and weather based decision support services for commercial shipping." The combined group expects to gain technical and data synergy advantages from the merger that will benefit the full range of maritime customer market sectors.

"We believe that our ability to combine global real-time weather data with continuous harvesting of transport and movement data from thousands of ships across the globe will enable the company to give ship and all fleet operators a unique understanding of how they can efficiently navigate the globe, whilst at the same time securing maximum safety and sound operational economics," said Erik Langaker, Chairman of StormGeo.

"We are delighted to have found a new partner with the same focus on quality and product development as ourselves. Outstanding performance within key areas like ship routing and marine forecasting will strengthen our product offering around the globe. Our main goal is to combine the knowledge base and expertise from both companies to develop new cutting edge products that will continue to be highly appreciated by our customers. Haydn Jones, CEO at AWT, will continue at AWT headquarters and will take the role of global head of shipping. His experienced management team and employees will ensure continuity with their existing customers," said Kent Zehetner, the CEO of StormGeo.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MHIA Relocates to Houston

Today Mitsubishi Heavy Industries America, Inc. (MHIA), a Group company overseeing the business of Mitsubishi Heavy Industries, Ltd. (MHI) in North America, commenced

Pan Ocean on Recovery Path

S. Korea’s Pan Ocean Co.  is expected to see its earnings improve amid rising Baltic Dry Index (BDI) that affects spot contracts accounting for more than half

Offshore Casualty: Harkand Group Collapses

As the prolonged slump in energy prices continues to drag on a number of oil and gas and maritime players, word has it that Harkand Group has succumbed, according to staff reports and a report on www.

Finance

Recent Strength in Dry Bulk Shipping to be Short-Lived

Drewry forecasts dry bulk freight rates in 2016 will be, on average, lower than in 2015, as the medium-to-long term fundamentals for dry bulk shipping will remain challenging,

Pan Ocean on Recovery Path

S. Korea’s Pan Ocean Co.  is expected to see its earnings improve amid rising Baltic Dry Index (BDI) that affects spot contracts accounting for more than half

Offshore Casualty: Harkand Group Collapses

As the prolonged slump in energy prices continues to drag on a number of oil and gas and maritime players, word has it that Harkand Group has succumbed, according to staff reports and a report on www.

Marine Science

ICS Pushing For Balanced Update of York Antwerp Rules

At the Comité Maritime International (CMI) Conference, in New York this week, the International Chamber of Shipping (ICS) will be pressing to ensure that the proposed

Aydin Marine Debuts Multi-Touch K-17T

Aydin Marine – the manufacturer of industry-leading, type-approved displays, computers and peripherals, announced today the release of a 17-inch multi-touch, sunlight-readable

Dryad Maritime Unveil WxConnect

Today, 5th May 2016, Dryad Maritime release WxConnect, a new scalable, managed weather forecasting service for ships and fleets. The launch of the service comes

Consulting

EU Shipowners Want Progress at Alang Shipbreaking to Be Rewarded

Ship recycling practices in Alang, India, are gradually improving. The European Commission should acknowledge this positive development under the EU Ship Recycling Regulation.

Bureau Veritas Acquires TMC Marine

Bureau Veritas has acquired international consultancy TMC Marine Ltd.    TMC has provided pre- and post-casualty advice and support to the marine industry since 1979.

ICS Criticises 'Prestige’ Judgement by Spanish Court

At a meeting of the International Oil Pollution Compensation Funds (IOPCF) this week, the International Chamber of Shipping (ICS) has strongly criticised the judgement

Mergers & Acquisitions

Yilport Acquires Sweden's Gavle Terminal

Turkish terminal operator Yilport Holding has gained full control of Gävle’s terminals.   Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG).

Bureau Veritas Acquires TMC Marine

Bureau Veritas has acquired international consultancy TMC Marine Ltd.    TMC has provided pre- and post-casualty advice and support to the marine industry since 1979.

Maersk Mulls Acquisitions after Surprising Profit

Fragmented sector chasing alliances to cut costs; Maersk has plenty of cash for deals - CEO. A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter,

Ocean Observation

Dryad Maritime Unveil WxConnect

Today, 5th May 2016, Dryad Maritime release WxConnect, a new scalable, managed weather forecasting service for ships and fleets. The launch of the service comes

Oceans Gasping for Breath, Oxygen Running Low!

Rising levels of CO2 are making it hard for fish to breathe in addition to exacerbating global warming and ocean acidification.   Climate change has caused a

Panama Canal Dismisses ITF Claims

The Panama Canal has dismisses claims by the International Transport Workers’ Federation (ITF) that questions industry standards and the operation of the Expanded Panama Canal’s new locks.

 
 
Maritime Contracts Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1076 sec (9 req/sec)