BV Posts Strong Growth Again

Monday, April 24, 2006
Bureau Veritas announced strong growth in 2005, its tenth consecutive year of growth. BV increased turnover to $2 billion, up 16 percent over 2004. Bernard Anne, managing director of the marine division of Bureau Veritas, says, “Focusing technology and delivering it where and when it was needed brought strong growth to both Bureau Veritas and its clients during 2005. Overall, the Bureau Veritas group grew across every industry on the planet, reinforcing its leading position as by far the largest and strongest body involved in ship classification and certification. Bureau Veritas today is a service company specialising in quality, health, safety and environmental management and social accountability. Its mission is to assist its clients to continuously improve the management of assets, personnel, systems and processes, products and services. Its maritime division is the backbone of BV’s global network. In 2005 it saw its share of the world newbuilding orderbook climb to over 10 per cent, and its classed fleet grew by fourteen per cent to over 7,100 ships, totalling over 49m gt. That growth has continued in 2006 and as of April we class 7,188 ships totalling 50.1 m gt.” BV’s focus on delivering the appropriate technology made it a clear leader in a number of marine sectors. During 2005 the first LNG RV vessel, Excelsior, regasifed its cargo onboard and delivered it through an offshore terminal to the energy-hungry and hurricane-hit US Gulf coast. BV worked closely with the yard, Daewoo, and the owner, Exmar, to develop and class the technology required for that, including groundbreaking studies of the hydrodynamic effects of sloshing. Today BV classes the only two LNG RV vessels in service, and will class the three more vessels on order, two of which at 151,000 cu m, are substantially larger. Also in the LNG field, BV pioneered diesel-electric propulsion plants for LNG ships, and it now has eleven such vessels on order. In the offshore energy field, BV’s special skills in Asset Integrity Management and the ability of its VeriSTAR Hull tool to manage fatigue were recognised by offshore operators and oil majors so that around forty per cent of the newbuilding and conversion orders for FPSOs were placed to BV class. In every aspect of shipping, Bureau Veritas was involved in ground breaking designs and applications, including the largest post-panamax cruise ships, ordered by MSC Cruises, very large containerships with ultra-high power delivered through one shaft line, close co-operation with German KG companies on new containership projects, the first double-hull bulkers ordered to the IACS Common Structural Rules and robust tankers of every size and type.

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