Korea's Techcross and Singapore's Keppel Sign BWMS MOU
Ballast Water Management System (BWMS) supplierTechcross sign a joint marketing & retrofit support MOU with Keppel Shipyard.
Techcross say that their MOU with Keppel Shipyard is intended to value-add to the significant retrofitting market. They will be cooperating to provide expertise to ship owners, undertake joint marketing initiatives and share support services.
With the 2004 International Convention by the International Maritime Organization (IMO) for the Control and Management of Ships' Ballast Water and Sediments (BWM) nearing entry-into-force, both companies have identified the need to provide support to customers before and after ratification.
The new-construction vessel market comprises of 2,500 to 3,000 vessels per year. In comparison, the retrofitting market is expected to include 50,000 to 70,000 vessels. The ratification of the BWM Convention is expected to lead to an explosive growth in the BWMS market [reference: IMO MEPC 61/2/17].
A major shipyard with more than a century of experience, Keppel Shipyard provides a broad range of offshore and marine services to customers from around the world. The yard is well-placed to undertake retrofitting work such as the installation of BWMS in a cost-effective, prompt and safe manner.
Techcross add that they have been preparing for the tremendous retrofitting market since the beginning of its business and is ready to expand its aggressive sales strategy with the signing of this MOU.