Sandnes, Norway, headquartered ballast water treatment (BWT) specialist Optimarin is offering what it says is the first leasing option in the BWT segment. It says it is making the move to meet market demand from vessel owners and operators, helping them meet regulatory requirements without large CAPEX outlays.
Optimarin EVP Tore Andersen says the solution is one that many in the industry have been waiting for.
“The need to comply with IMO and USCG regulations is not going away,” says Andersen. “Mandated vessels must have the required BWT systems to operate, today, tomorrow and far into the future.”
Andersen says that shipowners, many of whom were already facing challenging markets, have been plunged into economic uncertainty due to the coronavirus and the impact on every link within the shipping value chain.
“The future is unknown and demand is highly unpredictable, and that, understandably, makes it increasingly difficult to invest in new systems and technology,” says Andersen. “This creates a real danger of owners delaying decisions and eventually facing non-compliance, heavy fines and disrupted operations.”
Tailored to fit demand
Optimarin believes it has the solution. The company, which currently has around 600 units installed, 40% of which are retrofits, has partnered with a U.K.-based finance company to offer customers the chance to improve their cash flow by splitting payments into small, manageable monthly amounts.
No payment or deposit is required up front and all servicing and spare parts can be included in a simple, comprehensive package. Interest rates, Andersen says, are in line with competitive bank financing, without the complex requirements and demands.
“There are many, many excellent shipping firms that may struggle to satisfy banking covenants in an investment atmosphere that is increasingly risk averse,” he comments. “However, we have the partners and belief to help owners get the market proven equipment they require to sail with complete peace of mind.”
“As a company we’re focused on simplifying BWT for our customers – with total expertise, systems that are easy to install and operate, global service and support, and proven, long-term performance and reliability. Providing customers with flexible financing option is in keeping with that philosophy, helping owners get the technology they need without the headache of ‘jumping through hoops’ to finance it.
“We want to make BWT compliance easy for everyone. And this is a major step forward in enabling that ambition.”
Optimarin has been exclusively focused on BWT technology since its foundation in 1994. It installed its first commercial system in 2000 and was the first company in the world to gain full USCG approval in 2016. It was also the first manufacturer in the segment to provide a five-year warranty on systems.
Customers include names such as Royal Caribbean International, Fednav, Hapag Lloyd, Matson Navigation, McDermott, the Danish Navy, MOL, Seatruck, and Technip, among others.