Ship Equip announced the 1000th order for its SEVSAT system. The SEVSAT solution (which stands for Ship Equip VSAT) provides reliable and cost-effective satellite communications for a wide variety of vessels at sea. Core markets for Ship Equip include shipping, commercial fisheries, offshore oil/gas and megayachts.
Ship Equip’s 1000th SEVSAT order came as part of a recently signed large fleet contract for 67 vessels. The milestone-reaching order culminated several years of accelerated growth for the company, based in Ålesund Norway with offices in Oslo, Houston, Seattle, Singapore, London and Reykjavik. Since its initial launch in 2003, SEVSAT has gained steady acceptance and increasing momentum, to the point where today as many as 30 new SEVSAT and SETVRO (TV Receive Only) systems are installed monthly. Ship Equip has recorded impressive revenue gains even during the recent global economic downturn, including 29-percent growth in 2009.
”We have seen a steady growth in orders since the launch,” said Ship Equip Chief Executive Officer Ivar Nesset . ”It started with mainly Offshore Support Vessels (OSVs) and fishing vessels, and gradually shipping fleets have become a more important customer segment. In offshore, the needs were partly dictated by the oil majors, who needed broadband to transfer data from the oil fields to land offices. Fishing vessels began to lose crew to the OSV’s and ordered VSAT to retain their experienced workforce. In shipping, the picture is more mixed, with some ship owners installing SEVSAT to improve operational efficiency, some to enable online systems at sea and some to attract and retain a younger crew who are dependent on online communications.”