DNV Acquires COEX AS

(Press Release)
Friday, March 30, 2012
DNV Navigator TM facilitates compliance with the requirements of charterers and port authorities and is often referred to as the “Captain’s Best Friend”. Industry feedback indicates a considerable efficiency gain with DNV Navigator on board, and as much as a 90% reduction in paperwork for certain ports. This enables ships’ officers to focus on what should be their primary responsibility, namely to operate their ships in a safe and effective manner, both at sea and during port operations. Currently more than 2,200 ships subscribe to DNV Navigator.
COEX AS is a Norwegian-based IT company dedicated to offering IT solutions for smarter ship management. Since 2002, COEX has developed a state-of-the-art technology framework and a unique software solution for the more efficient management of international merchant fleets. Its ‘Vessel Information Portal’ software has proved to the world’s leading shipping companies that it is efficient and leads to cost reductions.
This acquisition is a logical response to customers’ requests to lift DNV Navigator onto a web-based platform with the purpose of providing more functionalities and better integration with modern IT technology. The acquisition is a consequence of several years of close cooperation between COEX AS and DNV. It has become evident that the fast growing number of ships currently subscribing to DNV Navigator will benefit greatly from running it on the COEX web-based platform. And current and future COEX users will benefit from the longer-term commitment and global reach that DNV provides.
“With the acquisition of COEX AS, we aim to radically improve the way we present and deliver our services. We see a great potential to increase our offering to the shipping industry by further expanding the DNV Navigator portfolio in terms of both content and functionality. We will continue to focus on operational issues and promote integration with other back-office systems. This will allow us to adjust to our customers’ needs and to cooperate widely with leading software suppliers in the maritime market,” says Odd Arne Haueng, Managing Director of DNV Maritime Partner AS.
“Our goal has always been to deliver cost-effective solutions that help the maritime industry to be more effective,” says Karl-Erik Johannessen, CEO and co-owner of COEX. “By becoming a part of DNV, we strongly believe that our customers will enjoy the unique competence found in DNV and our enhanced offering to the maritime industry.”
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