Navtor to Acquire Ingenium Marine
Navtor has inked a deal to acquire Ingenium Marine, a transaction subject to execution of definitive agreements. Once completed, Ingenium will become a fully integrated Navtor company and continue to operate from Mumbai, India, and Navtor will integrate digital logbooks into its e-Navigation and performance product portfolio. According to Navtor CEO Tor Svanes, this latest move will “transform the way the industry views traditional log-keeping,” unlocking a spectrum of benefits that “propels vessel logbooks into the smart shipping age.”
The acquisition follows Navtor's purchase of U.S.-based vessel analytics and performance optimization specialist Tres Solutions in early 2021.
Svanes calls the new consolidation a key step forward, with the Indian firm’s software allowing users to digitize any combination of vessel logs, creating a uniform “smart” system. This dramatically reduces administration, enables easier compliance, standardizes quality (with less human error), and creates the ability to instantly share data with onshore organizations for complete vessel and fleet awareness. Detailed analytics are also made simple, delivering insights into trends and performance for improved decision making.
Ingenium has spent the last five years developing a class and flag state approved solution compliant with all relevant IMO guidelines and regulatory standards. Instead of crew members filling in a vast array of paper logbooks (where the records are only ever as good as individual entries) Ingenium’s software allows them to input data on a single, secure platform, with real-time data sharing to shipowner or management offices on shore. It is transparent, error-free, rich in insights and a key, verifiable way of proving compliance with regulations and charter covenants.
“Log-keeping is a big beast, creating a huge administrative workload that is increasingly difficult to manage, but, given regulatory demands, more and more critical to successful, compliant operations,” said Ingenium Founder Amitabh Sankranti. “It is also a very valuable data source, but one that is near impossible to properly utilize, given the physical nature of the records.
“Here we have a way of radically simplifying data capture, accessibility, transparency and utilization. Workloads are reduced, decision making enhanced, money saved and compliance made easy. It’s a win for everyone. NAVTOR has been quick to realize the transformational benefits the solutions can offer and how we at Ingenium can complement their overall smart shipping mission. Joining the team was a ‘no brainer’ and, I believe, will supercharge the digital logbook revolution. It’s a fantastic opportunity – for us, but also for shipowners and operators.”
Ingenium’s software will now be integrated within NAVTOR’s established e-Navigation and performance suite, which has products on over 7,500 vessels worldwide. Fully customizable for individual owners (with real-time dashboard alerts for desired issues), it can be installed remotely and requires minimal crew training. Logbooks covered include Oil Record Books (ORB part 1 and 2), Cargo Record Books, Ballast Water Record Books, Garbage Record Books and more.