Insufficient liquidity has led Norwegian ballast water treatment system manufacturer OceanSaver to file for bankruptcy. The company’s board of directors filed a petition to dissolve the company on September 13. Established in 2003, OceanSaver was among the first suppliers to be approved by IMO in 2008 and obtained USCG type approval in December 2016. However, OceanSaver said it faced “significant downward pressure on equipment prices,” brought on by continued low shipbuilding activity as well as IMO’s MEPC 71 July decision to push back deadlines for ship owners to retrofit ballast water treatment systems. Also in July, the company lost a four-year arbitration against filter maker Bollfilter, which forced the company to pay all arbitration costs and both parties’ legal fees.