Attaining US Coast Guard (USCG) type-approval for ballast water management systems (BWMS) has always been a factor for manufacturers hoping to penetrate a cluttered market, and the latest financial statement from French BWMS manufacturer Bio UV Group underlines this; sales of its Bio SEA system have contributed €3.4M (US$4M) to Q3 2018 revenue, an increase of 30% on the same period last year.
“We are currently experiencing a ramp-up in order intake following our USCG certification and anticipate Bio UV Group total revenue growth in 2018 of at least 15%,” said BIO UV Group president and chief executive officer Benoît Gillmann. “This is driven in particular by a sharp acceleration of the ballast water treatment market, which should secure growth of at least 60% over the full year.”
BIO UV Group is one of only three manufacturers of UV-based BWTS to have obtained approvals from both IMO and the USCG. Across all the available BWMS technologies, 11 systems have received IMO and USCG approval.
To date, Bio UV Group has supplied its BIO SEA BWMS to more than 100 vessels worldwide, with more orders in progress. Owners operating the UV-based BIO SEA includes Maersk Lines, MSC Cruises, CMA CGM and Louis Dreyfus Armateurs.
According to the company, a strategy to increase its global footprint has also contributed to revenue growth. International expansion, which accounted for 50% of the Group’s revenue in 2017, saw the company establish a network of sales and distribution agents in more than 65 countries, with a focus on key geographical areas in the Asia-Pacific region.
This year, the Group opened a subsidiary in Hong Kong to oversee future sales growth and ramp-up manufacturing in the region.
BIO UV Group’s current orderbook is valued at €6.4m. Beyond 2018, the company reiterates its ambitions for 2022 to achieve revenue of around €40m.
Business, operational and technical issues impacting the crude, product and chemical tanker trades will be discussed in London at the Tanker Shipping & Trade Conference, Awards & Exhibition, 20-21 November 2018.