Optimarin Logs Record Revenue in '21

February 15, 2022

Optimarin announced record revenue in 2021 on strong sales of its ballast water treatment system (BWTS).

The Norwegian supplier's annual turnover exceeded $34 million for the first time ever following a 20% increase in the number of systems sold versus 2020, while Optimarin also boosted its customer base by 20%. A further 20% rise in service revenue contributed to the strong performance that was achieved despite logistical issues due to supply chain challenges and price inflation for electrical components.

“As well as increasing revenue, we managed to maintain profitability in a difficult year and gain ground by winning additional customers in both existing and new markets, which gives us a solid platform for further growth in 2022,” says Optimarin chief executive Leiv Kallestad.

According to Kallestad, sales were particularly strong in Europe, while there are also positive trends in Asian and South American markets as countries open up post-pandemic that will make it easier to do business, with sales managers now in place in Turkey, Hong Kong and Singapore.

A key factor behind the increase in sale has been Optimarin’s ability to juggle order deliveries according to clients’ constantly changing drydocking schedules as shipowners have kept their vessels operating to cash in on high charter rates in the container and other market segments, he explains.

Optimarin’s tie-up with UK-based Newport Shipping also ensures drydocking capacity at yards worldwide as industry demand increases for such retrofits ahead of a looming September 2024 deadline for implementation of the IMO’s Ballast Water Management Convention.

“There is no time to lose and we are pushing hard to deliver in line with demand, having also taken several steps to respond to competitive pressures in the market,” Kallestad says.

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