Our operating performance | Maritime design and consultancy Market context Driven by the growth in the global offshore wind energy market, interest in Crew Transfer Vessels (CTVs) remains strong. As energy suppliers look to expand their operations to more challenging locations, they need larger vessels in order to meet endurance and sea state demands. This is driving investment and attention towards Service Operation Vessels (SOVs). Given the ongoing global security challenges, many governments are looking to strengthen defence capabilities, with a focus on amphibious platforms. Alternative fuels remain a key design consideration but with no clear winner in the future fuels debate, and limited budgets, many commercial owners are specifying platforms that are capable of retrofitting new technologies rather than committing at the onset. The APAC region saw a surge in demand for maritime engineering and design services, particularly in the realm of ports and coastal maritime infrastructure. These projects aim to increase capacity, incorporating smart and sustainable technologies to enhance operational efficiency, with an increased emphasis on port connectivity and the integration of multimodal transport systems. Performance This year saw us win our largest ever single order. As part of Team Resolute, alongside Navantia UK and Harland & Wolff, we secured design and integrated logistics support work totalling c£90m for the UK Royal Navy’s Fleet Solid Support (FSS) programme. This was the culmination of many years of work and builds on the success of designing the Royal Fleet Auxiliary (RFA) Military Afloat Reach and Sustainability (MARS) platforms 10 years ago. In parallel, our CTVs remain in demand, particularly with the Singaporean yards Penguin and Strategic Marine. By volume of platforms, our CTV designs are currently #1 in the world. The fast ferry market and luxury yacht markets, however, have remained relatively slow in the reporting year, and we have continued broadening our services into consulting and ‘customer friend’ roles. Our award-winning immersive maritime navigation simulator BMT REMBRANDT has seen continued success - we built a multi-bridge simulator in our Fareham office to train the The King’s Harbour Master’s team and the Admiralty Pilots. In APAC, we focused on improving infrastructure project performance through the application of consistent business and commercial processes within the teams. From innovative ship designs and expert surveys to high-value vessel performance improvements, we help customers and their cargoes to arrive safely, effectively and on time. Strategy and organisation Throughout the year our Ship Design campaign has focused on core sales, driven by the commercial technical sales team, and the development of a new concept, the 48m Service Operation Vessel (SOV). The overarching ship design business model remains focused on delivering work in the UK, but we are working to bring together our skills and expertise globally to expand and enhance our capability and offerings. In APAC we have been exploring better collaboration across our Australian and Singapore teams, blending our diverse capabilities to enhance our pan-lifecycle offerings, and move us up the value chain. And in our marine surveying and investigations business, we have stepped up recruitment to focus on the finance sector and directly engage with the end customers. BMT Group Ltd | Review of performance 22-23 22
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