South Korea-based shipbuilding equipment manufacturer Panasia Co., is rapidly capturing contracts in the ballast water treatment sector having secured multiple orders for its ballast water treatment system (BWTS) GloEn-Patrol in recent months.
The company, who reported to have raised 85 billion won (USD 75million) in sales last year, is experiencing a tidal wave of orders from both newbuild and retrofit contracts.
In early May, PANASIA announced that it had signed a USD 16.5 million contract with a large ship management company in Europe to supply its ballast water treatment system for up to 79 vessels. According to PANASIA, they beat 60 rival ballast water technology manufacturers to claim the deal.
PANASIA’s BWTS was also chosen for installation on Spliethoff’s ‘M’ class newbuilding vessels at Zheijang OuHua Shipbuilding in China.
They also received an order for its BWTS worth USD 3.5 million for six ships at a Japanese shipyard and recently completed a retrofit on a 50K MR Tanker of MOL (Mitsui O.S.K. Lines).
PANASIA’s GloEn-Patrol BWTS uses ultraviolet (UV) ray sterilising technology. The company has successfully applied FDA/CMFDA biological efficacy testing method USCG solely recommended, and passed 5 consecutive land-based sea water tests with 2 brackish tests at Golden Bear Facility in California, U.S.A.
The Korean innovators are set to launch a new training centre in early June at the Posidonia exhibition in Athens, Greece. The centre will play a pivotal role as a regional education complex for crews on GloEn-Patrol BWTS through Training Equipment consisting of 20 feet containerised BWTS. Training centres will be established in Greece, Estonia, UAE., USA, Singapore and South Korea.
According to the International maritime organization (IMO), there are about 55,000 ships worldwide that are required to install a new ballast water management system. The market is estimated to reach more than USD 43.9 billion.
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