Cavotec: Shore Power Systems Market Well Positioned for Growth

by Ship & Bunker News Team
Friday November 6, 2015

Cavotec SA (Cavotec) in its third quarter 2015 report says its Alternative Maritime Power systems for ships are "well positioned for growth, particularly as governments around the world focus on reducing vessel emissions."

The Swiss-based engineering firm, which posted revenues of EUR 53.3 million ($58 million) in Q3 2015 (a 21.8 percent decrease compared Q3 2014, due to delays in product deliveries), is also expecting continued success of its MoorMaster automated mooring technology, three orders for which were placed during Q3 2015.

The report stated that MoorMaster will continue to be  "one of the key pillars for Cavotec's future growth, and with the new developments we have planned for this system and the increasing acceptance from the market, it has great long-term growth potential."

The MoorMaster Q3 orders are for operations in the US side of the St. Lawrence Seaway, Newfoundland, and Australia.

Cavotec recently opened an additional assembly facility in Shanghai and is planning to expand its manufacturing capacity in Italy, but nonetheless the report states that "as a result of the unprecedented amount of deliveries scheduled for these coming months," the company expects some product delivery delays until 2016.

Last month, Cavotec announced it was working on a NOK1.45 million ($178,769) shore power/alternative power initiative led by DNV GL, called ReCharge, which will supposedly help Norway to become the world leader in environmentally friendly ships.

Ship & Bunker News Team
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