BW LNG ups digitalization ante by boosting 34-vessel fleet’s procurement capabilities

October 30, 2024, by Melisa Cavcic

BW Group’s BW LNG, a Norwegian developer, owner, and operator of floating gas infrastructure solutions, has signed up for Procureship’s digital e-procurement platform in a bid to optimize procurement capabilities for its fleet of liquefied natural gas (LNG) carriers.

BW LNG is said to be the latest major client to join the Procureship platform, following Angelicoussis Group, Oldendorf Carriers, Starbulk Group, Technomar, Zeaborn Ship Management, and TB Marine Ship Management. As a result, Procureship now boasts more than 2,000 vessels from over 85 fleet owners and operators.

By joining Procureship’s platform, BW LNG expects to gain access to real-time analytics, and streamlined workflows, empowering procurement teams to respond swiftly to market changes and operational needs. The partnership is perceived to reflect the growing trend within the maritime industry towards digital transformation, as shipowners increasingly adopt advanced technologies to stay competitive in a rapidly evolving market.

Grigoris Lamprou, Co-Founder and Chief Executive Officer of Procureship, commented: “Procureship is proud to be supporting BW LNG by ensuring their vessels have the procurement capabilities they need to keep their vessels moving, reducing their time spent in port and enabling their team to make smarter and quicker decisions that can support their day-to-day operations.”

Procureship’s e-procurement platform, described as extensively utilizing automation and machine learning to bolster purchasing capabilities, is said to allow the Norwegian shipowner and its other clients to optimize procurement strategies, reduce costs, and improve overall operational efficiency. As a result, BW LNG’s fleet of 34 vessels is expected to directly benefit from Procureship’s technology during a time of increasing global demand for LNG and cleaner energy solutions.

Stefan Dahlström, Head of Procurement of BW LNG, noted: “We are thrilled to partner with Procureship and leverage their cutting-edge e-procurement platform to enhance our procurement capabilities. This collaboration will enable us to make more data-driven decisions, reduce costs, and provide better value for our services.

“By adopting Procureship’s technology, we are confident that our fleet will benefit from improved efficiency and streamlined operations, allowing us to meet the growing demand for LNG and cleaner energy options globally.”

BW LNG recently secured a multi-year deal to refurbish one of its LNG carriers into a floating storage unit (FSU) destined to be deployed at an LNG terminal in Jordan to help strengthen the Middle Eastern country’s energy security.