StormGeo and DNV GL announce creation of new fleet performance management powerhouse

OSLO, Norway, Feb. 7, 2019 /PRNewswire/ -- StormGeo and DNV GL announced today that they have signed an agreement to consolidate their fleet performance solutions under one banner. The agreement will combine DNV GL's ECO Insight and Navigator Insight solutions with StormGeo's FleetDSS and ship reporting solutions. By this a new industry leader in fleet performance management is created as part of StormGeo.

The combination of these solutions will result in a new offering to the global shipping industry that will be able to provide a complete fleet performance portfolio, including route advisory, navigation and planning, and fleet performance management services. The fleet performance centres, delivery, product development, and sales will be managed by StormGeo. The result is a combined fleet of more than 12,000 vessels that will receive a daily service from StormGeo in route advisory, weather intelligence, navigation and planning or fleet performance.

"Partnering with DNV GL enables us to accelerate the development of our fleet performance management offering by pooling the competence, software, and insight of both companies," said Per-Olof Schroeder, CEO, StormGeo. "Bringing these solutions together will give our clients even more ways to enhance the safety, efficiency, and transparency of their operations. Finally, it builds on our vision of establishing StormGeo as the leading provider of performance management solutions to the shipping industry."

The consolidation creates the largest vessel performance data set and developer team in shipping, providing industry-leading analytics that give customers even better data to enhance their operational decision making. The existing services will be maintained and strengthened within StormGeo, with all solutions brought together in the back-end, utilizing an improved data infrastructure. DNV GL will retain a strong connection to the new solution through the 26.4% share in StormGeo it has held since 2014, as well as continuing technical support to ECO Insight customers. Users will also able to share data through DNV GL's open industry platform Veracity.

"Since its introduction in 2014, ECO Insight has grown into the largest performance solution in shipping, with installations on more than 2,000 vessels. In addition, already 22 industry partners connect their data and analytics to the solution," says Trond Hodne, Senior Vice President at DNV GL – Maritime. "ECO Insight has already been an outstanding success, and by combining it with StormGeo's services we believe we can offer our customers a solution that not only gives broader functionality but taps into a richer data set. This will give our customers new and exciting services and insights to boost their competitiveness. We look forward to seeing ECO Insight going on to further success as part of StormGeo."

The agreement is subject to the fulfilment of certain customary closing conditions. The partners expect that the transaction will close no later than March 2019.

About DNV GL
Driven by our purpose of safeguarding life, property and the environment, DNV GL enables organizations to advance the safety and sustainability of their business. We provide classification, technical assurance, software and independent expert advisory services to the maritime, oil & gas and energy industries. We also provide certification services to customers across a wide range of industries. Operating in more than 100 countries, our professionals are dedicated to helping our customers make the world safer, smarter and greener.

About DNV GL – Maritime
DNV GL is the world's leading classification society and a recognized advisor for the maritime industry. We enhance safety, quality, energy efficiency and environmental performance of the global shipping industry – across all vessel types and offshore structures. We invest heavily in research and development to find solutions, together with the industry, that address strategic, operational or regulatory challenges. For more information visit www.dnvgl.com/maritime

About StormGeo
StormGeo is the industry leader in weather intelligence and ship routing services. More than 12,000 ships rely on StormGeo software or services for navigational planning, route optimization, weather and fleet performance. The company has 27 offices in 15 countries, including six 24/7/365 global operations centres offering premium services and support while being in the forefront of innovation. StormGeo is an ISO 9001 certified company and is dedicated to provide the best possible support and quality of service. 

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