(EnergyAsia, February 25 2011, Friday) — Singapore’s Jason Marine Group Ltd said its wholly-owned subsidiary, Jason Venture Pte Ltd, and Norway’s Baze Technology SA have established a joint venture, Baze Marine & Offshore Pte Ltd, to distribute information products and an advanced multi-platform system covering voice, video and data for use on ships and other marine platforms in Asia.
The new company will supply and service a range of training, information and entertainment products to improve operational efficiency, safety and crew welfare on vessels and offshore installations.
Jason Venture has taken a 51% stake in the joint venture which has a total issued share capital of S$100,000. (US$1=S$1.28)
Joseph Foo, Jason Marine’s executive chairman, said:
“Previously, crew could only have access to DVDs. With this new infotainment system, users can access a range of services – including IPTV (internet protocol TV), video, telephony, web access, e-mail, data transfer and information publication – all on a single terminal.
“We see potential for this product in the offshore and marine sector as customers will find these tools invaluable for facilitating onboard communications and enhancing work and recreation options for crews and other users.”
Aside from setting new standards in communication, information and entertainment solutions for the region’s maritime industry, Jason Marine said the alliance will advance its long-term strategic goals.
“This joint venture forms an important part of the strategy that we have embraced since our listing in 2009 to nurture the business. It will allow the group to move into new territories, opening doors for us into the offshore oil and gas markets. It will also broaden the group’s regional market reach, allowing Jason Marine to tap Baze Technology’s long-standing relationships with renowned industry players,” said Mr Foo.
Jason Marine has also acquired a 9% stake in Rockson Automation GmbH, a supplier of maritime automation solutions and services, last month. This investment as well as its joint venture with Baze Technology, were funded entirely from the group’s internal resources.
Germany-based Rockson offers automation solutions for the maritime industry, including integrated control and monitoring systems for unmanned machinery.
Mr Foo, who ventured into the business in the 1970s, said a robust communications link is critical to the operations of the marine and offshore industry.
“Internet access and links between a vessel and land are part and parcel of daily life today. You need reliable and robust Internet access to ensure operational integrity and safety. Also, if you don’t provide Internet access on board a vessel or rig, you will have a hard time recruiting young people today,” he said.
With oil prices surging past US$100 a barrel again, Mr Foo said the outlook for his company is bright.
“There will be increased demand for our services as oil and gas companies increase drilling and demand for vessels,” he said.
The Singapore Exchange-listed Jason Marine group is a leading marine electronics systems integrator and support services provider with a global clientele. An expert in marine communication, navigation and automation systems, the group offer one-stop solutions that span design, supply, integration, installation, testing, commissioning and maintenance.
Established in 1976, the Jason Marine has forged strong relationships with a global clientele from the marine and offshore oil and gas industries. The group has since expanded into Indonesia, Malaysia, China, Thailand and South Korea.
Jason Marine was selected as a Heritage Brand at the Singapore Prestige Brand Awards in 2010.