Tuesday, May 11, 2021

Partnership Deepens as Shipping Group Extends Reliance on Digital Technology

New Deal to Improve Safety and Routing Options
Shipping News Feature

WORLDWIDE – NORWAY – StormGeo, a global provider of weather intelligence software and decision support services, has increased its partnership with Ocean Network Express (ONE), the sixth largest container carrier in the world. This cooperation will look to give ONE access to a wider range of ship routing services, with the aim of ensuring the safety of its fleet, maintenance of its operating schedules and close monitoring of all related performance criteria as it works toward its supply chain goals.

The partnership began in July 2019, and as ONE’s internal evaluations proved the value of StormGeo’s services, the partnership expanded to include enhanced routing, ETA services for sensitive trade routes, and fleet-wide installation of StormGeo’s onboard software, s-Planner BVS. Sachin Sirsikar, General Manager Global Vessel Operations of ONE said:

“StormGeo’s products and services are an essential part of our on board and onshore operations. Having access to weather forecasts specific to our voyages helps us manage our strict ETAs with a focus on safety and fuel efficiency. In a time of digitalisation and sustainability within shipping, we are proud to partner with a company who prioritises these values as much as we do.”

Route recommendations provided by StormGeo to the ONE fleet are widely accepted by both shore and on board staff. Kim Sørensen, StormGeo’s COO Shipping, believes this is largely due to the trust that has been built between the two companies, commenting:

“Our customer service teams have a great relationship with ONE, particularly with their Global Ocean Route Advisory team in Singapore. We work hard to ensure their fleet is safe, timely and fuel efficient, utilising constant power to optimise their passages. It’s truly a win-win cooperation.”

As part of the recent expansion of the partnership, ONE vessels now have StormGeo s-Planner BVS installed, which utilises frequent, accurate forecast information to ensure avoidance of potentially damaging sea conditions. ONE’s onshore staff also have access to StormGeo’s s-Insight web platform, giving instant visibility of the location and performance of their entire fleet.

As it expands its partnership with ONE, StormGeo’s parent company, EQT Private Equity has agreed to sell StormGeo Holdings to Swedish company, Alfa Laval, a heat transfer, centrifugal separation and fluid handling firm. The transaction price amounts to NOK 3,630 million (approximately US$ 440 million) and closing is expected during the second quarter of 2021, subject to customary conditions.

StormGeo was founded in 1997 in Bergen, Norway, as a spin-off from Norway’s largest commercial broadcaster, TV2. Since 2014 it has been under the ownership of EQT, DNV GL and a group of employees. Through its scalable software solutions, StormGeo provides weather-centric services to more than 2,200 customers globally in a variety of industries, including shipping, energy and onshore industries such as healthcare, hospitality, insurance and retail.

With extreme weather being the number one cause of business disruptions globally, StormGeo’s point specific forecasts, coupled with asset specific data, enable customers to safeguard people, assets and operations while minimising downtime, improving ESG performance, saving fuel and resources.