YMT ACQUIRED BY ENERGY SUPPLY CHAIN SPECIALIST

Feb 2, 2024 | Maritime business news

Technological innovator Yara Marine Technologies (YMT) has been acquired by Geneva-based Okapi Supply Trading Advisory, and energy supply chain specialist sealing mainly in the African markets.

With both companies sharing a stated commitment to advancing sustainable solutions for the maritime industry, this new relationship sets the stage for green solutions provider YMT to accelerate the reach and impact of its decarbonisation technologies, supported by Okapi’s resources and drive.

The acquisition comes as the shipping industry faces increasing emissions regulations and financial impetus to meet the 2030, 2040 and 2050 emissions goals set by IMO. There is a genuine need for trusted, robust and well-tested green technology solutions that are supported by resilient manufacturing and supply chains that match scale with rapidly increased market demand — necessitating greater financial and organisational investment in new and existing technologies that enable this process.

YMT’s Dr Thomas Koniordos said: “This acquisition is the next step, and we eagerly anticipate the opportunities that lie ahead with Mohamed and the team at Okapi. Together, we will continue accelerating our industry’s transition to net zero through greater development and deployment of our cutting-edge decarbonisation technologies, reducing the environmental impact of maritime operations without compromising on operational excellence for our global fleet.”

Okapi Supply Trading Advisory CEO, Mohamed J Ndao said: “I’m pleased to welcome Yara Marine Technologies into the Okapi family. Their wide portfolio of innovative solutions showcase a variety of approaches and stackable alternatives that can serve as immediate options when addressing our industry’s emissions challenges. This aligns closely with our ambition to offer our customers easier pathways towards greening their operations. This union is an exciting new chapter, and I look forward to working together to create positive change for the marine environment and the maritime industry.”

Magnus Ankarstrand, EVP Yara Corporate Development said: “We are happy to have found a new owner that has a strong interest to develop the company further. Yara Marine Technologies has been a valuable part of Yara for 10 years. However, as Yara’s strategy is to focus its investments on core business of sustainable food solutions and clean ammonia, a divestment of Yara Marine Technologies was a natural step.”

The past few years have seen YMT establish a reputation in green technologies, with a portfolio of products seen across a variety of ship types.

Koniordos said: “We owe a debt of gratitude to Yara International for their invaluable support and partnership through our journey to this point. Their support and contributions have been instrumental in helping us innovate and progress our portfolio of decarbonisation solutions.”

The acquisition sets the stage for YMT’s launch of updated and new vessel optimisation technologies for the existing and future global fleet. These will join the established portfolio of vessel optimisation technologies, such as propulsion optimisation system FuelOpt; performance management and reporting system Fleet Analytics; cloud-based AI-powered ship operation support system RoutePilot AI; and shore power installations for vessels. Additionally, YMT’s FuelOpt system supports wind assisted propulsion that optimises power and records fuel performance on vessels with sails, rotors, kites and wings.

Customers with previously acquired products from YMT will continue to be supported by lifecycle services, ensuring a continued experience from previously delivered products and future maritime technologies.

Image: Okapi Supply Trading Advisory CEO Mohamed J Ndao (source: YMT)

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