Norwegian e-navigation specialist Navtor is to integrate digital logbooks into its product portfolio, having signed a deal to acquire Indian developer Ingenium Marine.
The transaction, once completed, will see the Mumbai-based Ingenium become part of Navtor and, according to Navtor’s boss, Tor Svanes, transform the way the industry views traditional log-keeping, unlocking a spectrum of benefits that propel vessel logbooks into the smart shipping age.
Ingenium has spent the last five years developing a class and flag state approved solution that is compliant with IMO guidelines and regulatory standards. For Svanes, the new consolidation is a step forward, with the Indian firm’s software allowing users to digitise any combination of vessel logs, creating a uniform smart system.
“Digital logbooks may not be mandatory yet, but when the industry sees what is possible they will be, and there’ll be a rush to adopt them to maximise competitive advantage,” Svanes asserted.
Ingenium founder, Amitabh Sankranti (pictured), added: “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. It is also a very valuable data source, but one that is nearly impossible to properly utilise, given the physical nature of the records. Here we have a way of radically simplifying data capture, accessibility, transparency and utilisation. Workloads are reduced, decision making enhanced, money saved and compliance made easy. It’s a win for everyone.”
The deal follows Navtor’s acquisition of US-based vessel analytics and performance optimisation specialist Tres Solutions in early 2021.