Marine & offshore revenue at Bureau Veritas grew by 11.5% in 2022 on the back of strong newbuilding demand for LNG carriers and LNG-fuelled container ships.
Revenue in the sector increased to €418.3m ($443m), compared with €375.2m in 2021— a 9.4% rise on an organic basis.
Operating profits grew 19.7% to $100.7m.
“The shipping market maintained a very positive momentum in 2022 with a level in worldwide new orders slightly above the average over the past 25 years,” the Paris-based classification society said.
“It was driven by a massive investment in LNG carriers and container ships.
“At year end, more than 60% of orders for new ships were based on dual-fuel systems, which benefited to Bureau Veritas given its leadership position in the field.”
Marine & offshore was one of Bureau Veritas’ best-performing sectors.
Overall in 2022, the company earned revenue of €5.6bn, up 13.4%, and an operating profit of €902m, up 12.5%.
Net profit was up 10.9% to €466.7m.
Sustainability and environmental, social and governance-related solutions now represent 55% of group sales through BV Green Line.
