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December 15, 2003

V Ships to use Wave software for equipment optimization

V.Ships Group Ltd, the world's largest independent ship management company, has agreed to pilot the Wave equipment optimization system onboard a portion of its technically managed fleet.

Wave, a ship equipment reliability analysis tool that helps owners and operators to manage their fleets' maintenance more efficiently, is produced by Resurgence Software, Inc. and jointly marketed with lloyd's Register.

The Wave software system, is an outgrowth of the RAM/Shipnet project jointly developed by the University of New Orleans Gulf Coast Region Maritime Technology Center (GCRMTC) and the Ship Operations Cooperative Program (SOCP), under the guidance of the U.S .Office of Naval Research

Arild Farbrot, Divisional Technical Director of V.Ships, says: "V.Ships is always looking for ways to make fleet management more efficient. We hope to prove with this pilot that Wave's unique focus on benchmarking and criticality analysis will allow us to operate vessels more reliably and efficiently and at lower cost."

The agreement, which covers both software and services, will allow V.Ships to carry out an analysis on a portion of its technically managed vessels. The pilot will require the integration with planned maintenance systems including V.Ships' own ShipSure Maintainer system.

Jacqui Knight, Product Manager for the Wave system at Lloyd's Register, comments: "Wave offers owners and operators enormous potential benefits. It can help to impact positively a substantial portion of operating costs, in particular working towards optimising maintenance strategies. The piloting of Wave by a quality leading ship management company like V.Ships indicates the significance of this new reliability analysis tool to the industry."

Tom Bubrig, President of Resurgence Software, says: "We are extremely pleased to be working with V.Ships and look forward to building a strong business relationship focused on delivering tangible results to V.Ships' clients. Our Wave system combined with the technical expertise of V.Ships' managers will be a powerful combination for delivering value."

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