SEACOR Marine Announces Upgrade of Four PSVs with Kongsberg Maritime Energy Storage Systems
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Insights
SEACOR Marine's investment in state-of-the-art energy storage systems is a progressive move towards sustainability within the maritime sector. The integration of these systems signifies a shift in the industry's approach to energy management and environmental responsibility. By reducing fuel consumption and emissions, SEACOR Marine not only adheres to stricter environmental regulations but also positions itself as a leader in green technology adoption.
From an environmental standpoint, the expected reduction in greenhouse gas emissions aligns with global efforts to combat climate change. The installation of a shore connection feature further emphasizes the company's commitment to reducing its carbon footprint, as it allows the vessels to draw power from local grids while docked, minimizing the use of diesel engines and consequently, lowering emissions.
The long-term implications of these upgrades could set a precedent for the industry, potentially leading to increased regulatory expectations for other companies to follow suit. This proactive approach may also enhance SEACOR Marine's reputation and market position by appealing to environmentally conscious stakeholders and clients.
The acquisition of hybrid power solutions by SEACOR Marine represents a significant technological advancement in the maritime industry. The Kongsberg Maritime UT771 CDL Design demonstrates a commitment to operational efficiency and could potentially lead to cost savings through reduced fuel consumption. The Deckhouse Energy Storage System, combined with the new dynamic positioning system, will likely enhance the performance and reliability of the vessels.
Moreover, the move towards hybridization of over 50% of SEACOR Marine's PSV fleet may influence competitive dynamics within the offshore support vessel market. As clients increasingly prioritize environmental and operational efficiency, SEACOR Marine's upgraded fleet could see increased demand, potentially leading to higher utilization rates and favorable contract terms.
It is also noteworthy that the implementation of such technology can be a considerable logistical endeavor, with installations scheduled over a span of several months. The successful deployment and integration of these systems will be critical to achieving the projected operational and environmental benefits.
The financial implications of SEACOR Marine's investment in hybrid power solutions are multifaceted. On one hand, the initial capital expenditure for the acquisition and installation of energy storage systems can be substantial. However, the anticipated reduction in fuel costs and operating expenses due to increased energy efficiency may offset these costs over time.
Investors should consider the potential for improved profitability through cost savings associated with lower fuel consumption and maintenance. Additionally, the ability to connect to shore power grids while in port could further reduce operational costs. These factors, combined with the potential for increased vessel utilization and client demand, could positively impact SEACOR Marine's bottom line and shareholder value in the long term.
It is important to monitor the actual performance and cost savings post-installation to evaluate the return on investment. Investors should also be aware of the risks associated with the implementation of new technologies, including potential delays or technical challenges that could affect the projected outcomes.
Continues SEACOR Marine’s commitment to enhance operational efficiency and reduce environmental impact
HOUSTON and OSLO, Norway, Jan. 25, 2024 (GLOBE NEWSWIRE) -- SEACOR Marine Holdings Inc. (NYSE: SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today jointly announced its commitment to acquire four state-of-the-art energy storage systems from Kongsberg Maritime AS. The hybrid power solution, designed with cutting-edge technology, will be installed on four of SEACOR Marine’s Platform Supply Vessels (PSV) to enhance the way the Company manages energy consumption and emissions onboard these vessels.
The four vessels included in the contract are the SEACOR Ohio, SEACOR Alps, SEACOR Andes and SEACOR Atlas. Installation is expected to begin in December 2024 and be completed by the second quarter of 2025. Once installed, more than
The four PSVs, all of which will feature the Kongsberg Maritime UT771 CDL Design, will be equipped for battery hybrid operation with the installation of a containerised Deckhouse Energy Storage System and associated switchboards and thruster control systems. The upgrade will also include a new Kongsberg Maritime K-Pos Dynamic Positioning (DP) system installed to replace the current DP system on all four vessels.
Beginning in February 2024 in Ulsteinvik, Norway, Kongsberg Maritime will also upgrade the UT771 CDL SEACOR Yangtze with the Deckhouse Energy Storage System.
John Gellert, SEACOR Marine’s Chief Executive Officer, commented: “Our decision to expand our hybrid fleet aligns with SEACOR Marine’s core values of innovation and environmental stewardship and builds upon our record of leadership in adopting green technologies in the maritime sector. SEACOR Marine was one of the first offshore operators to install battery hybrid systems, and this announcement marks a significant step in our ongoing efforts to enhance operational efficiency and reduce the environmental impact of our fleet.
“These energy storage systems are an investment in the sustainable future of our fleet and our ability to meet the offshore transportation requirements of our clients worldwide. We are excited to offer our clients additional hybrid PSVs that operate efficiently through reduced fuel consumption and related operating costs, while also reducing greenhouse gas emissions.”
James Poulton, Kongsberg Maritime, Senior Vice President, Aftermarket Sales, said: “SEACOR Marine is one of the most experienced operators of hybrid battery power systems in the offshore market, and we are delighted they have again chosen to expand their fleet of hybrid PSVs with Kongsberg Maritime technology.
“We see that by installing battery power, fuel consumption in DP operation mode on these vessels can be reduced by as much as
Investor & Media Contacts:
Kongsberg Maritime:
Craig Taylor
Senior Manager – PR & Communications
Mobile +44 (0) 7749584285
Craig.taylor@km.kongsberg.com
Karen Bartlett
PR Lead
Saltwater Stone
Tel: +44 (0) 1202 669244
k.bartlett@saltwater-stone.com
SEACOR Marine:
Investor Relations
InvestorRelations@seacormarine.com
Dana Gorman
H/Advisors Abernathy
Mobile: +16467840446
dana.gorman@h-advisors.global
Alexandra Clements
H/Advisors Abernathy
Mobile: +18323888641
alexandra.clements@h-advisors.global
About Kongsberg Maritime AS
Kongsberg Maritime is a global marine technology company providing innovative and reliable technology solutions for all marine industry sectors. Headquartered in Kongsberg, Norway, Kongsberg Maritime has manufacturing, sales, and service facilities in 34 countries.
Kongsberg Maritime solutions cover all aspects of marine automation, safety, manoeuvring, navigation, and dynamic positioning as well as energy management, deck handling and propulsion systems, and ship design services.
Web: Kongsberg Gruppen | Kongsberg Maritime
Social media: LinkedIn | Twitter | Facebook
About SEACOR Marine
SEACOR Marine provides global marine and support transportation services to offshore energy facilities worldwide. SEACOR Marine operates and manages a diverse fleet of offshore support vessels that deliver cargo and personnel to offshore installations, including offshore wind farms; assist offshore operations for production and storage facilities; provide construction, well work-over, offshore wind farm installation and decommissioning support; carry and launch equipment used underwater in drilling and well installation, maintenance, inspection and repair; and handle anchors and mooring equipment for offshore rigs and platforms. Additionally, SEACOR Marine’s vessels provide emergency response services and accommodations for technicians and specialists. Please visit SEACOR Marine’s website at www.seacormarine.com for additional information.
Cautionary Statements
Certain statements discussed in this release as well as in other reports, materials, and oral statements that the Company releases from time to time to the public constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “believe,” “plan,” “target,” “forecast” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management’s expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by the management of the Company. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties, and other important factors, many of which are beyond the Company’s control. It should be understood that it is not possible to predict or identify all such factors. Consequently, the preceding should not be considered to be a complete discussion of all potential risks or uncertainties. Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations or any change in events, conditions, or circumstances on which the forward-looking statement is based, except as required by law. It is advisable, however, to consult any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any). These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.
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