French LNG cargo containment specialist GTT is to merge its electronic fuel and vessel performance management companies into one entity.
The move will see Singapore-based company Ascenz merged with Icelandic-based Marorka to form Ascenz Marorka, the company confirmed.
GTT chairman and chief executive Philippe Berterottiere said the move represents a “new milestone” in the implementation of the company’s digital strategy.
“With Ascenz Marorka, our ambition is to combine the digital expertise of our group more effectively and to provide even more value to our customers in their journey for efficiency and sustainability,” he added.
“Thanks to 30 combined years of experience, Ascenz Marorka provides cutting-edge digital solutions, for all types of vessels, helping to improve their performance and safety, reduce their emissions and comply with the environmental regulations, while reducing the cost of the operations,” the company added.
Reykjavik-based Marorka was founded in 1992 and describes itself as a “leading provider” of data-driven energy management and operational performance solutions for the international maritime industry.
Marorka focuses on fuel savings, emission reduction compliance and reporting and performance optimisation.
GTT announced its acquisition of 100% of the share capital of Marorka from its owners and management team in February 2020.
When the Paris-based company acquired Marorka it described it as a good technical, commercial and geographical complement to Ascenz.
GTT acquired a 75% stake in Ascenz from founders Chia Yoong Hui and Sia Teck Chong and from several investment funds in December 2017.
GTT did not disclose what the management structure of the new combined company would be and confirmed to TradeWinds that there would be no job losses.
"On the contrary, we are speeding up our development, and our commercial trend is very positive," Anouar Kiassi, vice-president digital and information of GTT, told TradeWinds.
