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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Wärtsilä Oyj    WRT1V   FI0009003727

WÄRTSILÄ OYJ

(WRT1V)
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Wärtsilä Oyj : Wärtsilä and CBO to partner in Latin America's first hybrid vessel upgrade project

11/11/2020 | 07:03am EST

The technology group Wärtsilä and CBO, one of Brazil's leading operators of offshore support vessels, have recently signed an agreement to convert a vessel from CBO's fleet to operate with hybrid propulsion. The 'CBO Flamengo' will be the first vessel in Latin America to be fitted with a battery pack for hybrid propulsion, which will improve the vessel's energy consumption and reduce its carbon footprint. The order with Wärtsilä was placed in October 2020.

The Wärtsilä Hybrid Solution to be installed on the 'CBO Flamengo', a platform supply vessel (PSV), complies with the DNV-GL's 'Battery Power' class notation, allowing the ship's engines to run more efficiently by operating safely with fewer engines at a higher load. The hybrid system will provide redundancy power and reduce intermittent load increases (peak shaving), thereby saving fuel and reducing exhaust emission levels. Furthermore, because the engines will operate for fewer running hours, maintenance requirements and costs will be reduced.

'CBO is always interested in new technologies and innovation is in our DNA. We seek less fossil fuel consumption and this, aligned with our ESG (environmental and social governance) initiatives, makes the decision to install batteries in our vessels a natural path. CBO will offer more efficient operation to our clients, and this will be the first step of more to come. Wärtsilä is a leader in innovation and has extensive know-how in hybrid battery systems for ships, so we are pleased to join forces with Wärtsilä to implement new technologies into CBO's fleet,' says Marcelo Martins, Technical and Commercial Director at CBO.

'We are proud that a forward-looking company like CBO has selected Wärtsilä as its project partner in supplying this ground-breaking technology for Brazil's first hybrid vessel. Our strong track-record and depth of experience in developing advanced hybrid solutions were the key reasons for the award of this contract,' says Ian Brouwer, Senior Sales Manager at Wärtsilä Marine Power.

The scope includes the power conversion, project services, the hybrid solution delivery, and commissioning. Delivery of the Wärtsilä equipment is scheduled for April 2021. Installation and integration of the equipment will be handled by CBO.

The marine industry's first integrated hybrid power module

By combining its competences in marine electrical, automation and engine technologies, Wärtsilä has brought together multiple functions and systems to deliver a single integrated hybrid power module that combines engines, an energy storage system, and power electronics optimised by a unique and highly sophisticated energy management system (EMS).

The EMS functions as the 'brain' in the Wärtsilä Hybrid System. It optimises the energy flows between the different power sources, storage, and consumers to achieve the highest efficiency possible.

About CBO

Operating with excellence as an OSV company since 1978, CBO is one of the leading companies in the vessel chartering segment to support the oil and gas industry in Brazil.

The company has as shareholders the Private Equity funds Pátria Investimentos and Vinci Partners, and BNDESPar (Brazilian Development Bank - BNDES - subsidiary). Currently, the Group has a fleet of 32 vessels of different types, including PSV, RSV, OSRV and AHTS, and employs approximately 1,100 people in its bases in Niterói (RJ) and Macaé (RJ).

Media contacts for more information on this release:

Ms Marit Holmlund-Sund
General Manager, Marketing Communications
Wärtsilä Marine Power

Mobile +358 (0)40 538 3519
marit.holmlund-sund@wartsila.com

CBO
Ms Carina Ducos
Marketing and Communications
Tel. +55 (21) 2624-4738

carina.ducos@grupocbo.com.br

Image caption: The operating efficiency of the 'CBO Flamengo' will be upgraded with installation of the Wärtsilä Hybrid Solution.©CBOAll Wärtsilä releases are available at https://www.wartsila.com/media/news-releasesand at http://news.cision.com/wartsila-corporationwhere also the images can be downloaded.
Wärtsilä Marine Power in brief
Wärtsilä Marine Power leads the industry in its journey towards a decarbonised and sustainable future. Our portfolio of engines, propulsion systems, hybrid technology, and integrated powertrain systems deliver the reliability, safety, and environmental performance that Wärtsilä's Smart Marine vision encompasses. We offer our customers performance-based agreements, lifecycle solutions, and an unrivalled global network of maritime expertise.
www.wartsila.com/marine
Wärtsilä in brief:
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2019, Wärtsilä's net sales totalled EUR 5.2 billion with approximately 19,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.
www.wartsila.com

Disclaimer

Wärtsilä Oyj published this content on 11 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2020 12:02:00 UTC


© Publicnow 2020
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Sales 2020 4 627 M 5 615 M 5 615 M
Net income 2020 163 M 198 M 198 M
Net Debt 2020 677 M 822 M 822 M
P/E ratio 2020 32,0x
Yield 2020 3,30%
Capitalization 4 992 M 6 054 M 6 058 M
EV / Sales 2020 1,23x
EV / Sales 2021 1,23x
Nbr of Employees 18 183
Free-Float 74,8%
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Number of Analysts 16
Average target price 8,13 €
Last Close Price 8,70 €
Spread / Highest target 26,4%
Spread / Average Target -6,64%
Spread / Lowest Target -36,8%
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Jaakko-Veikko Eskola President & Chief Executive Officer
Thomas Johnstone Chairman
Arjen Berends Chief Financial Officer & Executive VP
Jukka Kumpulainen Chief Information Officer & Vice President
Outi Maarit Aarni-Sirviö Independent Director
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