Bw Ventures News

DHT Holdings, Inc. said it has appointed Susan Reedy to its board of directors as a Class I Director with a term expiring at the company's 2020 annual shareholders meeting. In connection with Reedy's appointment, the company's board has increased to six directors. Reedy’s appointment as a director is in accordance with the Investor Rights Agreement (IRA) entered into between the company and BW Group Limited on April 20, 2017. Pursuant to the IRA, BW Group is entitled to nominate two persons to the company's board. Reedy is the second person to be nominated by BW Group as a director. Reedy has over 17 years of corporate legal experience. She is currently Head of Legal - Special Projects for BW Group and served as Deputy Managing Director & General Counsel of BW Ventures from 2011 to 2016.

Lithium-ion battery systems manufacturer, Corvus Energy, says agreement in principle has been reached with BW Ventures’ Green Marine Capital (GMC), a Maritime Technology Investment Partnership, for a strategic investment of US$5 million to fund working capital requirements. Corvus also says that Andrew Morden, Chief Financial Officer, has been appointed interim CEO replacing Brent Perry effective May 5, 2014. “The Board of Directors and majority shareholders of Corvus are very pleased to partner with Green Marine Capital. The firm is focused on the benefits that our technology brings to the marine industry and understands its future potential.” commented Nick Andrews, Chairman of the Corvus Board of Directors.

Corvus Energy today announced that it has entered into an agreement in principle with BW Ventures’ Green Marine Capital (GMC), a Maritime Technology Investment Partnership, for a strategic investment of $5 million with the primary purpose of funding working capital requirements. “The Board of Directors and majority shareholders of Corvus are very pleased to partner with Green Marine Capital. The firm is focused on the benefits that our technology brings to the marine industry and understands its future potential.” commented Nick Andrews, Chairman of the Corvus Board of Directors. “GMC is an industry leader and they have the capability to promote our technology quickly and globally and accelerate its deployment into the marketplace.

The Norwegian firm OceanSaver, a provider of ballast water treatment (BWT) systems for medium and large vessels, has just marked its 10th birthday with the news that 2013 will be its best ever year for sales. CEO Houtan Houshangi has revealed that the company has secured over 50 orders for its modular Mark II system in 2013, spanning a diverse array of shipping segments. This pushes the number of systems on OceanSaver’s order book above the 100 threshold, with 30 units already installed. OceanSaver’s system, which was recently awarded U.S. Coast Guard (USCG) AMS approval, has found favor with owners and operators in key segments such as gas carriers, bulk vessels and VLCCs, to name a few. Recent contracts include system orders for LNG and LPG carriers.

OceanSaver’s ballast water treatment (BWT) system has been chosen for two 162,000cbm LNG carriers being built by BW Gas. OceanSaver was selected due to its competitive pricing, low operating costs, and compatible technical system. BW Gas is one of the largest independent owners and operators of LNG carriers and the largest owner and operator of LPG carriers. These sophisticated and highly regulated vessels require competent crews and high quality operations. They also require consistent standards of maintenance which BW Gas maintains regardless of short-term changes in the freight market. With these standards in mind, BW Gas conducted a thorough evaluation of the OceanSaver ballast water system (BWT) before confirmation.

OceanSaver has entered the Japanese market with a major ballast water treatment contract for four open hatch bulk carriers being built by Japan’s Oshima Shipbuilding Ltd for Gearbulk. The 72,000dwt Open Hatch Bulk Carriers are being built to DNV class and each vessel will be fitted with a 1,200m3/h type approved Mark II OceanSaver system. The first two systems will be commissioned in 2012 and will incorporate OceanSaver’s second generation design, engineered for reliability, low maintenance requirements and low power consumption.

Paul Østergaard, founder and CEO of ShipServ, a marine and offshore e-marketplace, is among the keynote speakers who will address the first SmartShipping conference this October 17-18 in Singapore. SmartShipping 2011 is a strategic conference grounded in the commercial realities of today's shipping markets. It has been developed on the premise that shipowners can and will engage with innovation in pursuit of greater efficiencies, simplified compliance and correspondingly lower operational costs. Cheong Keng Soon, Director – Shipping Division, Maritime and Port Authority of Singapore (MPA), will open the conference by speaking about the Singapore Maritime Cluster Fund…

BW Ventures and Investinor AS have made an agreement to acquire OceanSaver, a ballast water management (BWM) system provider. This move strengthens OceanSaver’s expansion strategy and roll out of its current $67m BWM order book.  The sale will be finalized following approval by the Norwegian competition authorities and the completion of some due diligence issues with the new owners. OceanSaver had major contracts for 22 BWM systems for tanker vessels in 2010. These contracts came in addition to ten BWM systems previously committed by Höegh Fleet Services. The company has been developing its BWM systems since 2003 and winning significant contracts following its full Type Approval Certification by the world’s leading classification company, DNV, in April 2009.