BWT Asia Pacific Market Booms

Frost & Sullivan Market Report
Tuesday, October 02, 2012

New 'Ballast Water Treatment Market in Asia-Pacific' reports 2011 revenues of over US$214.6-million estimated to reach US$3.63-billion in 2017.

The ballast water management (BWM) guidelines set by the International Marine Organization (IMO) has kick-started a fresh industry within the shipping sector, as ship owners look to adopt ballast water systems within their vessels. Water treatment companies have found a whole new market ready for penetration and are eager to carve their place in it.

"The number of countries endorsing BWM is growing, as member nations of the IMO understand the impact cross-ocean contamination has on local marine biodiversity," saidFrost & Sullivan Research Associate Prashanth Kay. "International and local compliance requirements, which are on the verge of being enforced globally, will result in the rapid rise of ballast water treatment."

The shipping industry is aware of this, and is looking to incorporate these systems in new ships and retrofit the old ones to settle compliance issues early. However, the key challenge is the high costs involved, especially since there is no return-on-investment. The shipping industry has to embrace BWT as a form of corporate social responsibility, and the challenge is to get ship owners to shoulder it.

Shipbuilders and ship owners are also struggling to understand what their specific needs are, and the types of technology available to them in terms of ballast water treatment.

"There is a diverse selection of water treatment technology available, and the costs vary just as much," noted Kay. "Ballast water treatment systems manufacturers need to expand their capabilities to create the right packages for the needs of different ships that ply different routes around the globe."
This strategic approach by ballast water treatment companies in not only building the right combination of technology, but also educating clients on their options, will push the market ahead.


 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Marad Visits TX Maritime Technology & Training Center

United States Maritime Administration tours Maritime Technology and Training Center site.   Administrators from the United States Maritime Administration (MARAD),

Bergeron to be Keynote Speaker at SHIPPINGInsight

Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), has agreed to serve as a keynote speaker at the SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition,

Tanker Retrofitted with Dual Fuel Engine

Caterpillar Marine informs it has begin a dual fuel engine retrofit conversion onboard the 472-foot Fure West tanker, owned by Furetank Rederi A/B. The MaK M 43

Marine Equipment

Latest USCG Cutter At Boston Harbor

The Coast Guard’s latest 418-foot National Security Cutter James (WSML 754) entered Boston Harbor August 3, 2015. The James is the fifth of eight planned National

LNG Ferry Construction for Tallink Begins

The start of production of Tallink's new generation LNG powered fast ferry for the Tallinn-Helsinki route was celebrated on the 4th of August 2015 at Meyer Turku shipyard.

NYK Hosts Safety Conference

Over three dates in July, NYK hosted a safety promotion conference for shipowners and ship-management companies at the NYK head office in Tokyo and at Imabari city in Ehime prefecture.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Winch
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: 0.1481 sec (7 req/sec)