On September 20th, IMS group signed a purchase agreement with the OceanSaver Trustee to acquire all intellectual property, certificates and assets after OceanSaver’s bankruptcy filed on September 13th 2017.
OceanSaver was among the first suppliers of ballast water treatment to be approved by IMO, to successfully complete the stringent test regime by the US Coast Guard and to obtain a USCG type approval in December 2016.
In July, the IMO decided to postpone the implementation of the ballast water convention by two years, delaying it to 2019. The delay has had a major impact on the market for retrofitting ballast treatment systems. In addition, the ship newbuilding activity continues to be low, and the combination has led to significant downward pressure on prices and uptake of ballast water treatment systems.
“We think it is of significant added value for customers that the ballast water treatment product range is integrated into an already profitable and sustainable business with several maritime products. We would therefore not be dependent on a steady market, but will be able to adjust quickly, both with production capacity and personnel,” says Roy Langseth, CEO of the IMS group.
The product will be sold and manufactured at TeamTec, which is a company in the IMS group.