Australian marine systems manufacturer VEEM Limited has executed an agreement with Singapore-based Strategic Marine for the latter to employ small and medium size VEEM gyrostabilisers exclusively on the vessels it builds.
According to the deal, VEEM will exclusively provide Strategic Marine with its VG70, VG100, and VG140 marine gyrostabilisers for use on crew transfer ships travelling between Southeast Asia and Europe, as well as on certain wind farm crew ships.
Within the limits of exclusivity, Strategic may sell the gyros to other parties for retrofits or new constructions in addition to installing them on their own boats, VEEM said in an ASX announcement.
In addition to promoting the usage of VEEM gyrostabilisers on its ships, Strategic Marine will only utilise VEEM gyros and will immediately order 12 VEEM gyros for scheduled delivery over the following three years.
Strategic had already acquired two gyros and has an active VEEM order for one gyro, bringing their total orders on hand to 13 gyros.
The Singaporean company has the option to extend the exclusivity for another year if it meets all of its conditions and purchases three additional units.
Mark Miocevich, VEEM’s managing director, expressed pride in cooperating with Strategic Marine in the Southeast Asian crew transfer vessel industry as well as the European Offshore Wind business.
“We have worked closely with Strategic Marine in the incorporation of the VEEM gyro into their fourth-generation fast crew boat platform and share their excitement over the potential of this vessel,” Miocevich stated.
He added, “With Strategic Marine’s clear commitment to the market and to VEEM’s product through the placing of orders, VEEM is very pleased to commit to exclusivity and work with Strategic for the next three years.”
Meanwhile, Strategic Marine CEO Chan Eng Yew said Strategic is committed to the fast crew boat sector, as seen by its facility expansion and engine purchases.
“We see the introduction of our fourth generation FCB with the VEEM gyro, as a game changer that will be embraced by offshore energy operators in Southeast Asia and elsewhere around the world,” noted the CEO.
For over a year, VEEM and Strategic Marine have been collaborating on the integration of the VEEM gyro into their latest fourth-generation fast crew boat (FCB).
Strategic Marine introduced the new vessel to the offshore energy market in March 2023, with the VEEM gyro as a prominent component.
Strategic Marine markets the gyro as a distinct selling point for their product, delivering greater economics and vessel capabilities to operators.
Strategic Marine exhibited its faith in the offshore vessel sector and their product portfolio in March 2023 when it announced the purchase of 100 Cat C32 engines with options for 50 more.
