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MARINE & OFFSHORE - Bureau Veritas
BUREAU VERITAS

   MARINE
& OFFSHORE
   BUSINESS REVIEW

                     2O19/2O
MARINE & OFFSHORE - Bureau Veritas
BUREAU VERITAS MARINE & OFFSHORE
                                                                                                                                         PROFILE
  BUREAU VERITAS                                                                                                                            #

                           CONTENTS
MARINE & OFFSHORE
           PROFILE
                 PAGE 1                                               BUREAU VERITAS
    CEO STATEMENT                                               IS ONE OF THE WORLD’S
                 PAGE 2                                       LEADING CLASSIFICATION
             2030 :                                                     SOCIETIES AND
   HOW TO ACHIEVE                                               OFFSHORE SAFETY AND
THE SUSTAINABILITY                                                VERIFICATION BODIES
                                                          A diverse network of engineers and technical
       CHALLENGE?                                            experts are dedicated to ship and offshore
                 PAGE 3                                         safety and efficiency. They set, measure
                                                                   and inspect standards for structures,

    TRENDS
       PAGE 4 TO PAGE 17
                                                              materials, machinery and operations and
                                                                 share their expertise through advisory
                                                                     and support services and training.

   FLEET OVERVIEW
                PAGE 18                                                                       180
                                                                                      SURVEY STATIONS
       LEADERSHIP
            VIEW
                PAGE 20                                                                           19
                                                                                 LOCAL PLAN APPROVAL
                                                                                              OFFICES

                                                                                   MARINE OPERATIONS
                                                                                                    6
                                                                                             CENTERS

                                        WHAT                                                                                          WHAT DO                        WHAT
          WHO?                        DRIVES US?                  WHERE?                                    HOW DO                    WE DO?                      MAKES US
            2,650                          KEEPING
                                                                     CLOSE TO
                                                                                                            WE WORK?               PROVIDE OUR CLIENTS
                                                                                                                                                                  DIFFERENT?
                                                                   OUR CLIENTS,
       PEOPLE IN MARINE               OUR CLIENTS’ CREW                                                    HAND-IN-HAND WITH        WITH THE SUPPORT              OUR COMMITMENT
                                                                    WHEREVER
         & OFFSHORE                   AND ASSETS SAFE,                                                        OUR CLIENTS            AND KNOWLEDGE                 TO THE MARINE
                                                                    THEY ARE
                                         EVERY DAY                                                                                     THEY NEED                   AND OFFSHORE
                                                                                                                                                                     INDUSTRY

                                                                                                                                                                        MARINE & OFFSHORE BUSINESS REVIEW     1
MARINE & OFFSHORE - Bureau Veritas
BUREAU VERITAS MARINE & OFFSHORE                                                                             BUREAU VERITAS MARINE & OFFSHORE
                                                 CEO STATEMENT                                                                                                       TRENDS
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      Volatility and uncertainty
      dominated 2019- and
                                                                               Bureau Veritas Solutions. The
                                                                               clarity of our proposition – a                          2030:
      emerging confidence has
      taken a major hit in 2020 as
                                                                               separate company dedicated to
                                                                               providing our clients with                 HOW TO ACHIEVE THE SUSTAINABILITY
                                                                               technical advisory, asset
      the spread of the novel                                                  management and assurance –                           CHALLENGE?
                                              A CRITICAL
      coronavirus, and an oil price                                            appeals to clients. We have seen
      crisis, impact both people                                               strong, and growing demand for

                                                DECADE
      and markets.                                                             services as owners seek expertise                               One idea will dominate the next decade – environment.
                                                                               to increase the performance of                   As young people around the world demand an urgent response to the climate crisis,
                                                                               their marine and offshore assets.                    the onus is on industry to act. With IMO setting ambitious long-term targets,
                                                  Matthieu de Tugny                                                              ship owners are adopting innovative technologies and fuels to improve efficiency
      Last year saw weakening                  PRESIDENT MARINE & OFFSHORE                                                       and reduce emissions. Offshore, oil majors, EPCs and new technology companies
      global economic demand                             DIVISION
                                                                                                                                   are leveraging traditional expertise to develop new energy-efficient solutions.
      and geopolitical risk                                                                                                                Bureau Veritas is on hand to support the transformation ahead.
      impacting both marine                                                    A crucial decade
      and offshore industries                                                  ahead

      In Marine, this weighed heavily                                          As we go into the new decade,
      on new orders for bulk carriers                                          three main topics dominate
      and tankers. Owners struggled                                            theagenda. The first is
      with the double whammy of                                                environmental – how the Marine
      major fluctuations in charter                                            industry will lower its impact
      rates for oil tankers and dry bulk                                       in line with ambitious regulations
      and uncertainty over the best                                            and commitments by IMO and
      response to both the IMO 2020                                            the European Union.
      sulfur cap regulation
      and the need to decarbonize.                                             The second is digital – how
      The result has been a wait-and-                                          the industry will become smarter,
      see approach to new orders.                                              with digital tools to increase
      Anticipating the timing of a return                                      efficiency and protect itself
      to growth today is complex, as it                                        against cyberattacks. The third
      will be linked to global economic                                        is the energy transition – how
      demand in the wake of the                                                marine and offshore players will
      COVID-crisis. It will also depend                                        use their existing expertise to
      on owners feeling that they can                                          respond to today’s energy needs            ALTERNATIVE                                                                       DIGITAL
      make more informed choices                                               while developing the technology            PROPULSION
      about their energy transition                                            necessary for a low-carbon future.
      options.                                                                 Innovation in these three areas
                                                                               will be rapid, and grounded in the                                                                                 Digitalization continues
      In Offshore markets, oil prices                                          expertise that is being developed    IMO 2020 is just the                            ENERGY                        apace as owners and
                                                                               today. This decade will be a         beginning. To reach                           TRANSITION                      operators seek to improve
      were volatile in 2019 and
                                                                               turning point – for the industry,    ambitious targets of -50%                                                     performance and protect
      plummeted in the first quarter
                                                                               and for the planet.                  in GHG emissions by 2050,                                                     against cyber risk.
      of 2020. Many projects are now
                                                                                                                    owners are exploring                                                          Ship designs increasingly
      on hold, as their economics                                                                                                                          The offshore industry
                                                                               Lastly, the spread of COVID-19       alternative fuel options.                                                     incorporate smart
      no longer stack up.                                                                                                                                  has a major role to play
                                                                               will have a major impact on          New designs increasingly                                                      technology, a trend set to
                                                                                                                                                           in developing less carbon-
                                                                               marine and offshore markets          feature LNG as fuel,                                                          continue in the next
                                                                                                                                                           intensive energy sources.
      Orders increase as owners              In a fast evolving                in 2020 and beyond. At Bureau        with some owners turning
                                                                                                                    to LPG. The industry is
                                                                                                                                                           If gas is a critical transition
                                                                                                                                                                                                  decade. Smart solutions
                                                                                                                                                                                                  will also support
      seek expertise                                                           Veritas, we have been able to                                               fuel, offshore wind and
                                              market, Bureau                   keep working, not least because      researching innovative
                                                                                                                                                           marine renewable energies
                                                                                                                                                                                                  the energy transition,
                                                                                                                    solutions including biofuels                                                  as increased automation
      Against this backdrop,
      Bureau Veritas saw an uptick
                                               Veritas is well                 of the digital investments we have
                                                                               made enabling us, for example,       and ammonia.
                                                                                                                                                           offer the promise
                                                                                                                                                           of zero-carbon energy.
                                                                                                                                                                                                  for engines, navigation
                                                                                                                                                                                                  systems and machinery
      in new orders in 2019 thanks to       positioned to meet                 to carry out remote surveys.         Electric power is also
                                                                                                                    on the rise, albeit for short
                                                                                                                                                           In the meantime, energy
                                                                                                                                                                                                  helps owners improve
      our positioning in the market                                            We cannot know what the full                                                efficiency is key, with oil
      segments where demand was                client needs.                   consequences will be. But we do
                                                                                                                    distance travel.
                                                                                                                                                           and gas majors looking to
                                                                                                                                                                                                  energy efficiency
                                                                                                                                                                                                  and reduce OPEX
      strong: gas carriers; passenger                                          know that we will continue to                                               increase the performance
                                                                                                                                                                                                  to meet decarbonization
      ships including expedition cruise                                        make safety and the well-being                                              of assets, extend their
                                                                                                                                                                                                  requirements.
      and eco-friendly ferry concepts;                                         of our people, your people                                                  life, and decommission
      and vessels of many types that                                           and all communities, our absolute                                           them safely at the
      use LNG as fuel and other clean                                          priority. We have been helping                                              appropriate time.
      propulsion solutions. We also                                            keep society safe since 1828
      benefited from a steady stream                                           and we will continue to help
      of class transfers. 2019 was the                                         shape the world we need now,
      first full year of activity for                                          more than ever – a world of trust.
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BUREAU VERITAS MARINE & OFFSHORE                                                                                            BUREAU VERITAS MARINE & OFFSHORE
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      CMA CGM POWERS AHEAD
      WITH LNG AS FUEL                                                                                                             PASSENGER VESSELS
      CMA CGM strengthened its environmental                                                                                       TARGET LOW EMISSIONS
      commitment in 2019 with the delivery of the world’s
      first LNG-fueled ultra large containership and                                                                               For passenger ferries, electric power
      an order for five more LNG-fueled vessels.                                                                                   is an increasingly attractive and viable option.
                                                                                                                                   Bureau Veritas is classing two innovative concepts.
      The CMA CGM Jacques Saade was the first                                                                                      BC Ferries has ordered four diesel-electric Island Class
      of nine 23,000 teu ships to be delivered by Shanghai                                                                         vessels from Damen, as part of its move to full electric.
      Jiangnan-Changxing Shipyard. The 400m-long ships’                                                                            The 300 pax vessels are sister ships to two vessels
      environmental performance is also boosted thanks to                                                                          that will enter service in mid-2020.
      their hydrodynamically optimized hull form.                                                                                  And Norwegian operator Brevik Fergeselskap
      CMA CGM went on to place an order with Jiangnan                                                                              has ordered an all- electric 98-pax ferry to be
      for five 15,000 teu LNG-fueled containerships.                                                                               delivered by Holland Shipyards end-2020.
      These vessels offer operational flexibility, as they could                                                                   Rauma shipyard in Finland is also building a highly
      potentially be used on both Europe-Asia routes                                                                               efficient dual fuel ferry to BV class for Tallink.
      and Pacific West Coast routes. A further five                                                                                The 50,000 GT MySTAR will accommodate
      15,000 teu vessels are to be built with scrubbers                                                                            2,800 passengers on the Tallinn-Helsinki route.
      at Hudong Zhonghua Shipbuilding in China.
      All vessels will be built to Bureau Veritas class.

                   IMO 2020                     With the IMO Low Sulphur Regulation coming
                                                into force on January 1st 2020, environmental compliance
                     READY                      moved center stage.
                                                                                                                                                          FERRIES:                             As regulators and local communities push
                                                                                                                                                                                               for greener coastal navigation, ferry operators
                                                                                                                                                     THE FUTURE IS                             and ro-ro ship owners are responding with dual
                                                                                                                                                          ELECTRIC                             fuel and electric hybrid solutions.

                                                                                                                                                                                                               TWO NEW LNG-ELECTRIC HYBRID
                                                                                                                                                                                                               VESSELS FOR SEASPAN
                                                                                                                                                                                                               Damen is building two more BV-classed
                                                                                         FUEL TESTING SUPPORTS                                                                                                 LNG-electric hybrid ro-ro ferries for Seaspan.
                                                                                                                                                                                                               The 149m vessels will go into service for
                                                                                           IMO 2020 COMPLIANCE                                                                                                 Seaspan Ferries in 2021 as part of the
                                                                        To achieve compliance with IMO 2020, the majority                                                                                      company’s fleet replacement programme.
                                                                   of owners chose to switch to low-sulfur fuel oil (VLFSO) or                                                                                 They will join two BV-classed LNG-hybrid
                                                                                     Marine Gas Oil (MGO) rather than make                                                                                     vessels already linking the British Columbia
                                                                                    costly decisions on installing a scrubber                                                                                  mainland to Vancouver Island, which operate
                                                                                                 or switching to LNG as fuel.                                                                                  with emission reductions of over 50% compared
                                                                     Bureau Veritas published dedicated Guidelines (NI 559)                                                                                    to traditional vessels. Seaspan’s low emissions
                                                                        covering the use of low sulfur fuel oils and detailing                                                                                 also enable it to take advantage of tax reductions
                                                                              design and operational measures with a view                                                                                      offered by the Port of Vancouver as part of
                                                                             to supporting ship operators to prevent issues                                                                                    its EcoAction program.
                                                                                         and ensure regulatory compliance.
                                                                          We also offer dedicated marine fuel testing via our
                                                                             VeriFuel program. Backed by our global network
                                                                        of laboratories, VeriFuel provides marine fuel quality
                                                                        and quantity assessments. For owners operating on
                                                                                 VLSFO or MGO, this includes test for stability,
                                                                         compatibility, cold flow properties and many other
                                                                            necessary tests in order to mitigate any potential
                                                                                                    issues onboard the vessel.
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BUREAU VERITAS MARINE & OFFSHORE                                                                                           BUREAU VERITAS MARINE & OFFSHORE
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                                                                           GROWTH IN LNG AS FUEL FOR GAS
                                                                               CARRIERS BOOSTS ORDERS
                                                                       For the second consecutive year, Bureau Veritas was
                                                                               awarded classification of 20% of LNG carrier
                                                                           newbuilding orders placed in 2019, reflecting its
                                                                                expertise in a key market driver: LNG as fuel.
                                                                           Japanese owners placed orders for dual fuel LNG
                                                                                                                                 SUPPORTING A BUNKERING BOOM
                                                                            carriers to be built at Korean yards. NYK ordered    Bureau Veritas is the classification society of choice
                                                                                 six 174,000m3 tankers from Samsung Heavy        for LNG bunker ships, accounting for over half of
                                                                      Industries (SHI) and Hyundai Samho Heavy Industries.       vessels in service and under construction.
                                                                               Nisshin Shipping also placed an order for one     New orders in 2019 included two dual-fuel bunker
                                                                        174,000m3 carrier from SHI, while MOL ordered two        vessels for Mitsui O.S.K. Lines (MOL). A 135m-long
                                                                          180,000m3 and one 174,000m3 carrier from DSME.         ship with capacity of 18,600m3 will be built by
                                                                         Greece’s Dynagas similarly placed an order for two      Hudong-Zhonghua Shipbuilding. Chartered to Total,
                                                                         180,000m3 vessels from Hyundai Heavy Industries.        it will supply LNG bunker to a wide range of ships in
                                                                         LNG carriers have been using LNG as fuel for many       the Mediterranean. A second 12,000m3 newbuilding,
                                                                                years through a variety of available built-in    chartered to Pavilion Gas, is to be constructed by
                                                                          technologies. As IMO 2020 kicks in, LNG remains        Sembcorp Marine. Both vessels will be fitted
                                                                                  an attractive fuel choice for LNG carriers.    with GTT’s Mark III membrane containment system,
                                                                                                                                 which is designed to reduce cargo loss through
                                                                                                                                 operation thanks to a lower boil-off rate.
                                                                                                                                 Bureau Veritas is also classing Shturman Koshelev’s
                                                                                                                                 5,800m3-capacity ice-class bunkering vessel built by
                                                                                                                                 Keppel Offshore & Marine.

        LNG AND BIOGAS                          LNG carrier and oil/chemical tanker designs
      A NATURAL CHOICE                          are adapting alternative propulsion
                                                and other low emission technologies.
           FOR TANKERS

         TÄRNTANK POWERS
         ITS ENERGY TRANSITION
         WITH FOUR-FUEL TANKERS
         As part of its transition to clean energy,
         Tärntank Ship Management AB ordered                                                                                                                                                        GAS TO POWER IN SENEGAL
         two 15,000-DWT liquefied biogas/liquefied                                                                                                                                                   MOL has also teamed up with Karpower,
         natural gas-powered (LBG/LNG) product                                                                                                                                                 a subsidiary of Karadeniz, to develop the first
         and chemical tankers with a hybrid battery                                                                                                                                            LNG-to-powership project, to be operated in
         system from AVIC Dingheng Shipbuilding.                                                                                                                                                      Africa. The KARMOL project comprises
         Designed by Kongsberg Maritime, this is                                                                                                                                                 two assets: an FSRU and a Powership, both
         the second series of ships ordered from                                                                                                                                                BV-classed. The FSRU will deliver re-gasified
         the Chinese shipbuilders. These latest vessels                                                                                                                                           LNG to the Powership, which will produce
         can run on four different types of fuel                                                                                                                                                   electricity. MOL’s FSRU is being converted
         – LBG, LNG, MGO and LSHFO – making them                                                                                                                                                   from an existing LNG carrier in Singapore.
         environmentally friendly and efficient.                                                                                                                                                  The Powership, which will be converted to
                                                                                                                                                                                                                dual fuel propulsion, will carry
                                                                                                                                                                                                       Bureau Veritas’ POWERGEN notation.
                                                                                                                                                                                                     KARMOL’s LNG-to-Powership solution
                                                                                                                                                                                                 with power generation capacity of 120MW
                                                                                                                                                                                                  will create a stable and reliable supply of
                                                                                                                                                                                                                      electricity for Senegal.

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BUREAU VERITAS MARINE & OFFSHORE                                                                                             BUREAU VERITAS MARINE & OFFSHORE
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                                                                                                                                           INNOVATION                                             A raft of innovative SOVs and construction
                                                                                                                                 POWERS OFFSHORE WIND                                             vessels are supporting construction and operation
                                                                                                                                                                                                  of tomorrow’s offshore wind projects.
                                                                                                                                      SUPPORT VESSELS
                                                                            ADVANCING DEVELOPMENT OF
                                                                             LNG CONTAINMENT SYSTEMS
                                                                                       Leveraging 50 years’ experience in
                                                                                the LNG industry and extensive expertise
                                                                                     with GTT LNG containment systems,
                                                                                        Bureau Veritas Marine & Offshore
                                                                                    has performed Design Assessment of
                                                                                      the latest GTT Mark III Flex+ system.
                                                                                       Based on Mark III Flex technology -
                                                                           a cryogenic liner used to contain liquefied gas
                                                                                    at low temperatures during shipping       Jan De Nul Group ordered two innovative offshore
                                                                                  at atmospheric pressure - this new GTT      wind installation vessels, both built to BV class
                                                                                 containment and insulation system uses       and slated for delivery in 2022. The Voltaire is
                                                                                the latest membrane technology to offer       Jan de Nul’s third jack-up installation vessel,
                                                                                    greater capacity, increased thickness     under construction at COSCO Shipping Heavy Industry
                                                                                                    and better insulation.    in China. Designed to transport, lift, install and
                                                                                                                              decommission offshore wind turbines, transition pieces,
                                                                                                                              and foundations, the Voltaire also will carry Bureau
                                                                                                                              Veritas’ Ultra-Low Emissions Vessel (ULEV) notation,
                                                                                                                              assigned to vessels with very advanced emission-control
                                                                                                                              technology. The Voltaire is the tallest jack-up in the world,
                                                                                                                              and its crane, with a capability of more than 3,000 tons,
                                                                                                                              is capable of loading the next generation of wind
                                                                                                                              turbines and foundations (more than 270m high
                                                                                                                              and fitted with 120m long blades).
                                                                                                                              The Luxembourg-based group also ordered
                                                                                                                              Les Alizés, a floating installation crane vessel,
                                                                                                                              from China’s CMHI Haimen shipyard. Equipped
                                                                                                                              with a crane with a lifting capacity of 5,000 tons,
                                                                                                                              Les Alizés is capable of both building the newest
                                                                                                                              generation of offshore wind farms and also
                                                                                                                              decommissioning offshore oil and gas platforms.

                                                                                                                                                                             Also in 2019, DEME Group held a keel-laying
                                                                                                                                                                             ceremony for its first dedicated offshore
      ELECTRIC ORDERS FURTHER BOOST                                                                                                                                          wind farm maintenance SOV, also the world’s
      PONANT’S GREEN CREDENTIALS                                                                                                                                             first DP2 twin-hulled SOV. Due for delivery
      Ponant ordered two hybrid electric 230-pax                                                                                                                             in 2021, the 60m vessel will feature
      expedition cruise ships to be built to BV class                                                                                                                        a Small Waterplane Area Twin Hull design,
      at VARD, for delivery in 2022. The design of                                                                                                                           which ensures low wave impact on
      the vessels features a battery package allowing                                                                                                                        movements when approaching turbines,
      smokeless operation at anchor, in ports,                                                                                                                               compared to a monohull SOV.
      and in environmentally sensitive areas.                                                                                                                                Finally, Louis Dreyfus Armateurs’ 83m SOV,
      Two 184-pax sister ships, Le Bougainville and                                                                                                                          Wind of Change, was awarded the Offshore
      Le Dumont-d’Urville, joined the fleet in 2019.                                                                                                                         Renewables Award at the Offshore Support
      They represent the third and fourth ships in                                                                                                                           Journal Awards. Capable of accommodating
      the Explorers series to be designed and built by VARD,                                                                                                                 90 people on board, it was designed by
      following the delivery of Le Laperouse                                                                                                                                 Salt Ship Design, it was built by Cemre
      and Le Champlain the previous year.                                                                                                                                    in Turkey, and delivered in April 2019.
      A further two vessels will be delivered in 2020.                                                                                                                       A second vessel, Wind of Hope, is under
                                                                                                                                                                             construction for delivery in 2021
      Also under construction for Ponant at Vard                                                                                                                             and will service Ørsted’s Hornsea
      is Le Commandant Charcot. An icebreaking cruise                                                                                                                        two offshore wind farms.
      ship that will use LNG as fuel, it features a GTT
      membrane tank fitted to the shape of the hull.

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BUREAU VERITAS MARINE & OFFSHORE                                                                                  BUREAU VERITAS MARINE & OFFSHORE
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                                                                                        RESEARCH & DEVELOPMENT
                                                                                   Bureau Veritas takes part, alongside industry
                                                                                       partners, in R&D programs that advance
                                                                         understanding necessary to the development of marine
                                                                        renewable energy (MRE) technologies. These range from
                                                                                  development of calculation tools to full-scale
                                                                                               demonstration of new concepts.
                                                                                     One such project is RealTide, a 3-year project
                                                                         funded by the European Union. The project focuses on
                                                                                reliability, design and materials, condition-based    CERTIFICATION
                                                                         monitoring, tidal flow characterization and turbulence,
                                                                                                                                      MRE developers need to de-risk their innovations,
                                                                               and realistic simulation of tidal energy converters.
                                                                                                                                      and demonstrate to public authorities and finance
                                                                           It seeks to improve understanding of the tidal energy
                                                                                                                                      providers their safety and performance.
                                                                                  environment and to assess where system-wide
                                                                                                                                      Bureau Veritas has developed robust sector-specific
                                                                                        reliability improvements can be achieved.
                                                                                                                                      certification schemes in line with IEC guidelines
                                                                           Bureau Veritas is also taking part in the MONAMOOR         that prove developers’ ability to deliver.
                                                                            project run by France Energies Marines, an institute      In 2019 it issued an update to its dedicated rule note
                                                                                        for Energy Transition dedicated to MRE.       for floating offshore wind turbines (NI 572),
                                                                            Focused on monitoring of polyamide mooring lines,         a supplement to its Certification Scheme for
                                                                                          the project aims to develop modelling       Marine Renewable Energy Technologies (NI 631).
                                                                                     tools to understand the dynamic behavior
                                                                                                                                      Bureau Veritas provided certification services
                                                                                of cables, and monitoring instruments to study
                                                                                                                                      for two projects in the Mediterranean. It is providing
                                                                                               how cables deteriorate over time.
                                                                                                                                      full scope certification services for Provence Grand Large,
                                                                                                                                      a project 40km offshore Marseille led by EDF Renouvelables.
                                                                                                                                      The project, which consists of three 8MW Siemens
                                                                                                                                      Gamesa Renewable Energy wind turbines installed on
                                                                                                                                      floating sub-structures supplied by SBM Offshore,
                                                                                                                                      aims to demonstrate that generating electricity
                                                                                                                                      from floating wind technology is both technically
                                                                                                                                      and commercially viable. The wind farm will
                                                                                                                                      produce a total capacity of 24MW,
                                                                                                                                      or enough electricity to power a town                       Eoliennes Flottantes du Golfe
                                                                                                                                      of 40,000 inhabitants.                                      du Lion (EFGL), a 24MW project by

             FACILITATING                               Wind and sea offer potentially limitless sources                                                                                          ENGIE, EDPR and Caisse des Dépôts
                                                                                                                                                                                                  also benefited from support.
                                                        of energy. But harnessing them requires new technology.
         DEVELOPMENT OF                                 An established player in the mature offshore fixed wind
                                                                                                                                                                                                  Bureau Veritas is providing
                                                                                                                                                                                                  certification of the WindFloat
       MARINE RENEWABLE                                 sector, Bureau Veritas supports developers of floating wind
                                                        and emerging tidal technologies at every stage in their
                                                                                                                                                                                                  floater technology developed by
                                                                                                                                                                                                  Principle Power, following an initial
                ENERGIES                                journey from initial concept to final installation.                                                                                       Approval in Principle in 2016.

         APPROVALS IN PRINCIPLE
         An Approval in Principle (AIP) provides a technology
         developer with third-party validation that a concept
         is fit for purpose. Achieving an AIP can be an essential
         step to secure financing for a prototype or to pitch
         technology to a project owner.
         Bureau Veritas has recently provided two AIPs for
         innovative floating wind concepts. It assessed Saipem’s
         pendular floater technology, enabling the EPC contractor
         to conduct a complete design review and verify
         that design assumptions matched market needs.
         And in a second project, it is working on an AIP
         for an offshore floating platform concept by Saitec.
         SATH – Swinging Around Twin Hull – is designed
         to reduce construction and maintenance costs through
         the use of concrete rather than steel. Bureau Veritas
         also provided Ciel & Terre with design review for a floating
         photovoltaic panel concept to be used on lakes.
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BUREAU VERITAS MARINE & OFFSHORE                                                                                         BUREAU VERITAS MARINE & OFFSHORE
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       3D CLASSIFICATION
       ACCELERATING THE DESIGN REVIEW                                                                                                           REMOTE AND AUGMENTED SURVEYS
       PROCESS                                                                                                                                  INCREASING SAFETY, REDUCING
       Today our 3D Classification allows ship builders                                                                                         PREPARATION COSTS
       and designers to share the 3D model of their assets                                                                                      Today we can successfully see remotely thanks to
       with Bureau Veritas experts, who can use this digital                                                                                    data-capture technology such as drones and robots.
       twin to conduct design review and perform                                                                                                We have now also tested the use of connected devices
       necessary calculations within a single model.                                                                                            onboard for the surveyors to be able to perform         OPTIMIZED AND
       This will enable ship builders and designers to save                                                                                     the verification remotely for a range of class items.
       time in modelling, get improved reply time                                                                                               We are also progressively developing artificial         PREDICTIVE SURVEYS
       and gain in quality with accelerated iterations.                                                                                         intelligence solutions, such as an application          A SOLUTION FOR CLASS
       As we continue implementing our vision,                                                                                                  that allows automatic detection of corrosion on         AND STATUTORY SURVEYS
       our 3D classification offer will enable the sharing                                                                                      pictures. The data we are already gathering will        Optimized and predictive surveys
       of up-to-date information from design and                                                                                                feed artificial intelligence to help monitor assets     will use a ship’s most recent data
       construction to surveys and decommissioning,                                                                                             from a distance. This smart approach to monitoring      and complete maintenance history to
       helping owners keep assets safe and compliant.                                                                                           vessels helps reduce risk to personnel and              evaluate when it should undergo
                                                                                                                                                provides a safe way to survey inaccessible areas.       survey. This risk and condition-based
                                                                                                                                                                                                        approach, already applied today by BV
                                                                                                                                                                                                        for the classification of offshore units,
                                                                                                                                                                                                        will help optimize survey costs,
                                                                                                                                                                                                        improve efficiency and safely resolve
                                                                                                                                                                                                        asset-specific problems quickly
                                                                                                                                                                                                        and accurately.

 TAKING CLASSIFICATION
                                                      Our new Digital Classification offer will combine
                                                      three pillars to provide our clients with improved efficiency
                                                                                                                      15,000
   TO NEW DIMENSIONS                                  and quality throughout the Classification processes,
                                                      while further improving ship’s safety and maintenance.
                                                                                                                      E-CERTIFICATES
                                                                                                                      ISSUED IN 2019

                                                             CYBER MANAGED NOTATION                                   NEW TOOLS SIMPLIFY CLIENT
                                                          ENABLES IMO 2021 COMPLIANCE                                 EXPERIENCE
                                                                                                                      Bureau Veristar has introduced two new tools as part of
                                                       Bureau Veritas launched Cyber Managed, a class
                                                                                                                      its end-to-end digital offer to improve client experience.
                                                            notation providing a pragmatic approach to
                                                                                                                      Veristar Equipment is a digital platform that enables
                                                     cyber security -reflecting industry needs and cyber
                                                                                                                      manufacturers to create requests, select certifications,
                                                      security best practice. Co-developed with marine
                                                                                                                      and monitor requests in real-time. Users can receive
                                                        security experts, it enables shipowners to meet
                                                                                                                      automated notifications, contact Bureau Veritas directly
                                                              IMO 2021 requirements for cyber security.
                                                                                                                      and download their certificates from the platform.
                                                                    Cyber Managed focuses on ensuring
                                                                                                                      A second tool, Optimum Survey Planning, ensures
                                                                that cybersecurity is managed onboard
                                                                                                                      that fleet managers get the right survey at the right time
                                                                as per industry best practice for change
                                                                                                                      in the optimal location. The digital survey planning tool
                                                         management and traceability of IS/IT systems,
                                                                                                                      helps save time and money while minimizing disruption
                                                   emergency procedures and basic security protection
                                                                                                                      to ship operations. It provides notifications on survey
                                                   measures. The voluntary notation is being applied to
                                                                                                                      times and locations, taking into account availability
                                                       a growing number of ships including some large
                                                                                                                      of Bureau Veritas surveyors and their expertise.
                                                    Greek-owned fleets. Around 100 ships are expected
                                                                                                                      Users benefit from optimized proposals, information
                                                            to be operating under the notation in 2020.
                                                                                                                      on surveyor availability in each port, and visibility
                                                                                                                      of the status of their request.

12                                                                                                                                                                                                        MARINE & OFFSHORE BUSINESS REVIEW     13
MARINE & OFFSHORE - Bureau Veritas
BUREAU VERITAS MARINE & OFFSHORE                                                BUREAU VERITAS SOLUTIONS - MARINE & OFFSHORE
                                                                  TRENDS                                                                              TRENDS
                                                                     #                                                                                   #

                                                                                                                      BUREAU VERITAS SOLUTIONS –
       DIGITAL TOOL FACILITATES
       REGULATORY COMPLIANCE
                                                                                                                         MARINE & OFFSHORE
       Bureau Veritas introduced an online tool
       to support offshore verification and safety                                                         Bureau Veritas Solutions Marine & Offshore (BVS) provides technical advisory, asset management
       projects for North Sea clients including Shell                                                                    and assurance solutions for the shipping and offshore energy markets.
       and NOV. BV Compliance is a desktop                                                                            Its added-value solutions enable clients to resolve new and complex issues,
       and app-accessible tool, that enables operators
                                                                                                               de-risk projects, and optimize costs. It comprises five main areas of activity: engineering,
       to get complete maintenance, inspection
       and verification information through                                                                                      risk, regulatory support, assurance and asset management.
       a single user-friendly interface.                                                                      In 2019, its first full year as an independent entity, BVS saw strong organic growth of +16%.
       It offers operators both a holistic view and
                                                                                                                     Services are performed independently from Bureau Veritas Marine & Offshore
       the ability to obtain detailed data on individual                                                                  regulated activities, such as classification and statutory certification.
       assets and systems and their verification,
       inspection and certification programs.
       Clients benefit from ease of planning and
       historical data tracking, all with a much quicker
       turnaround than was previously possible.
       BV Compliance will be available for use
       in other regions in 2020.

                                                                                                                                                 ENGINEERING                          RISK
                                                                                                                                                 STRUCTURAL                           SAFETY STUDIES
                                                                                                                                                 ANALYSES                             SUPPORT
                                                                                                                                                 FOR INNOVATIVE                       NEW DESIGNS
                                                                                                                                                 VESSELS                              BVS supports owners
                                                                                                                                                 Demand for engineering services      to manage risk throughout
                 SUPPORTING                                    Offshore operators demand the highest                                             is growing, with owners turning      the asset lifecycle with studies
                                                                                                                                                                                      to identify, quantify and
                                                               levels of safety and performance.                                                 to BVS for structural integrity
         EFFICIENT OFFSHORE                                    Digital tools and new flexible designs                                            calculations, hull performance       understand risks related to your
                                                                                                                                                                                      assets. Owners called upon BVS
                                                                                                                                                 audits and hull optimization
                 OPERATIONS                                    are helping them achieve their objectives
                                                                                                                                                 studies in particular.               in 2019 for safety studies relating
                                                                                                                                                                                      to new designs for assets and
                                                                                                                                                 Jan de Nul called on BVS to carry    processes in the LNG value chain:
                                                                                                                                                 out structural analyses for the      dual fuel vessels, bunkering
                                                                                                                                                 Voltaire wind turbine installation   vessels and transfer systems.
                                                                                                                                                 vessel (see pg.9), expected to be    BVS also developed Risk-based
                                                                                                                                                 the largest in the world when        Inspection projects for clients.
                                                                                                                                                 it launches in 2022. The studies
                                                                                                                                                 covered the hull and the truss       In 2019, BVS performed
                                        FAST BUILD TIME SECURES                                                                                                                       more than 40 risk projects
                                                                                                                                                 legs as part of the vessel’s basic
                                        NEW ORDERS FOR SBM OFFSHORE                                                                              engineering phase. BVS worked        for the main industrials such as
                                        Bureau Veritas further developed its collaboration                                                       in close collaboration with          Total, Exmar, SBM Offshore,
                                        with SBM Offshore during 2019 as part of a long-term                                                     Jan de Nul and naval architect       Reliance, Ponant.
                                        technical and commercial frame agreement covering                                                        Stogda to overcome specific
                                        classification, second party inspection and design                                                       challenges. These included
                                        assessment studies.                                                                                      the interface between the hull,
                                        It is classing four new build FPSO hulls to be constructed                                               the jacking system and the truss
                                        at Shanghai Waigaoqiao Shipbuilding and Offshore Co.,                                                    legs, as well as hydrodynamic
                                        Ltd. (SWS) and China Merchants Industry Holdings (CMIH).                                                 loading of the structure
                                        The orders take the total number of Fast4Ward™ hulls to five.                                            in order to ensure safe
                                        Two will serve the Liza field offshore Guyana operated by                                                operations at sea.
                                        an ExxonMobil-led consortium and its block co-venturers.
                                        Another will be deployed at the Petrobras-led Mero field
                                        offshore Brazil. The Fast4Ward™ concept featuring
                                        standardized hull and topsides is designed to meet
                                        the needs of offshore operators, offering reduced cycle
                                        time to energy delivery, the de-risking of projects
                                        and improvement of the quality and safety.
                                        Bureau Veritas is also supporting SBM Offshore with
                                        technical studies and vendor qualification. In 2019 alone,
                                        it processed 300 vendors in Europe, China and Brazil.

14                                                                                                                                                                                     MARINE & OFFSHORE BUSINESS REVIEW     15
MARINE & OFFSHORE - Bureau Veritas
BUREAU VERITAS SOLUTIONS - MARINE & OFFSHORE                                                                              BUREAU VERITAS SOLUTIONS - MARINE & OFFSHORE
                                                             TRENDS                                                                                                                    TRENDS
                                                                #                                                                                                                         #

       REGULATORY                                                                                                                                                                                                        CREATIVE THINKING
       FACILITATING IHM                                                                                                                                                                                                  TO KEEP UK
       COMPLIANCE                                                                                                                                                                                                        DECOMMISSIONING
       The end-2020 deadline is                                                                                                                                                                                          LOCAL
       looming for compliance with                                                                                                                                                                                       Through its Aberdeen-based
       the European Ship Recycling                                                                                                                                                                                       company, Maritime Assurance
       Regulation (EU SRR), introduced                                                                                                                                                                                   and Consulting (MAC),
       to ensure safe disposal or                                                                                                                                                                                        Bureau Veritas Solutions Marine
       recycling of all ship components                                                                                                                                                                                  & Offshore is collaborating
       at end of life. To assist shipyards                                                                                                                                                                               with Forth and Tay
       and owners, BVS supports                                                                                                                                                                                          Decommissioning alliance
       preparation of an Inventory of                                                                                                                                                                                    (F&TD) to offer an innovative,
       Hazardous Materials (IHM) and                                                                                                                                                                                     low-cost solution to keep
       development of a compliant                                                                                                                                                                                        North Sea decommissioning
       Ship Recycling Plan (SRP).                                                                                                                                                                                        local. To overcome the UK’s lack
       It has also launched IHM Praxis,                                                                                                                                                                                  of natural ultra-deep water ports,
       a user-friendly digital application                                                                                                                                                                               they are exploring the concept
       that facilitates compliance with                                                                                                                                                                                  of a “virtual deep-water port”,
       both EU SRR and the IMO                                                                                                                                                                                           by creating a ‘virtual’ floating
       Hong Kong convention, keeping                                                                                                                                                                                     quayside for natural inshore
       owners up to date and offering                                                                                                                                                                                    UDW areas far from the quayside.
       a simplified process for IHM                                                                                                                                                                                      F&TD and MAC are defining
       Certification. Fleet managers can                                                                                                                                                                                 the scope of this project and
       control and maintain multiple                                                                                                                                                                                     its accompanying practicalities,
       IHM manuals, keep track of                                                                                                                                                                                        and a full cost benefit analysis
       HAZMAT locations and maintain                                                                                                                                                                                     is to be conducted.
       maintenance records.                                                                                                                                                                                              Bureau Veritas subsidiaries
                                                                                                                                                                                                                         TMC Marine and MatthewsDaniel
                                                                                                                                                                                                                         are also providing support
                                                                                                                                                                                                                         with specialty services.

                                                                                                                                         ASSET MANAGEMENT                                     With the North Sea set to be a decommissioning
                                                                                                                                             NEW SOLUTIONS                                    hub for decades to come, the oil and gas industry
                                                                                                                                                                                              is looking for efficient solutions.
                                                                                                                                       FOR DECOMMISSIONING

                                                                                            ASSURANCE
                                                                                            YARD SERVICES
                                                                                                                                  VERISTAR AIM3D:
                                                                                            FOR OWNERS
                                                                                                                                  A DIGITAL TWIN
                                                                                            AND CHARTERERS
                                                                                                                                  FOR DECOMMISSIONING
                                                                                            CAP and second party shipyard
                                                                                            services were in demand during        Bureau Veritas Solutions’ Asset Life
                                                                                            2019. BVS acts on behalf of           Management solution Veristar AIM3D
                                                                                            owners as a second party              creates a digital twin of an asset.
                                                                                            representative at the yard during     With the inclusion of comprehensive
                                                                                            new constructions or retrofits.       condition monitoring, RCM, CBM
                                                                                            In 2019, it extended this service,    and other maintenance techniques,
                                                                                            representing a charterer during       it enables better understanding and
                                                                                            the fabrication, installation and     faster maintenance and repair decisions,
                                                                                            testing of the cargo containment      saving time and money.
                                                                                            system of a LNG carrier.              Used until now to create digital twins
                                                                                            The project includes a long           of new and existing floating units,
                                                                                            period of technical assistance        the scope of Veristar AIM3D will soon be
                                                                                            with regular progress reports.        extended. The Oil and Gas Technology
                                                                                            The cargo containment system          Centre, an Aberdeen-based industry
                                                                                            is sensitive due to the nature        body, has approved a project to use
                                                                                            of the LNG cargo. Charterers          Veristar AIM3D in a decommissioning
                                                                                            are keen to ensure safe transfer      environment, and is seeking a pilot
                                                                                            of LNG, minimize boil-off rate        project to demonstrate the value
                                                                                            and ensure the highest volume         of using digital twin technology
                                                                                            of LNG upon arrival at destination.   in end-of-life applications.
16                                                                                                                                                                                                                    MARINE & OFFSHORE BUSINESS REVIEW     17
BUREAU VERITAS MARINE & OFFSHORE                                                                                         BUREAU VERITAS MARINE & OFFSHORE
                                                      FLEET OVERVIEW                                                                                                         FLEET OVERVIEW
                                                             #                                                                                                                      #

                                          THE BV CLASSED                                                                                                                                                          GROWTH IN CLASSIFICATION
                                                                                                                                                                                                                           FOR NAVAL SHIPS

                                               FLEET
                                                                                                                                                                                                               Naval expansion continues worldwide, with
                                                                                                                                                                                                             countries adding new vessels as they increase
                                                                                                                                                                                                          defense spend. Bureau Veritas is classing several
                                                                                                                                                                                                                 ships under construction at French yards.
                                                                                                                                                                                                            Chantiers de l’Atlantique is building two 194m
                                                                                                                                                                                                             auxiliary ships for the French Navy, while UAE
                      The BV classed fleet reached 11,400 vessels in 2019. In addition to seeing                                                                                                           has ordered a 102m corvette from Naval Group.
                   strong growth from LNG carriers and gas-fueled newbuildings, Bureau Veritas                                                                                                                 The Argentine Navy, meanwhile, has placed
                                                                                                                                                                                                            orders with Kership for three 87m patrol ships.
                                   welcomed 440 existing vessels to its register.
                                                                                                                                                                                                                      Bureau Veritas was also appointed to
                                                                                                                                                                                                                                     the classification panel
                                                                                                                                                                                                                               of the Royal Australian Navy.

                                                                                                                                         The FSRU Turquoise built by
                                                                                                                                         Hyundai Heavy Industries and
                                                                                                                                         delivered to Pardus Energy
                                                                                                                                         Limited in June 2019 has
                                                                                                                                         a capacity of 170,000m3.
                     NEW STRUCTURAL RULES
                                                                                                                                                                                                        MSC CRUISES
           Bureau Veritas developed new Tentative Rules
             for the Structural Assessment of Steel Ships.                                                                                                                               Construction of mega-cruise ships
       The new Rules represent a voluntary alternative to                                                                                                                                  continues apace at Chantiers de
                         NR467 structural requirements for                                                                                                                       l’Atlantique, with two new vessels joining
              the classification of ore carriers, non-CSR oil                                                                                                                              the fleet in 2019. The 170,500 GT
           tankers, product tankers, liquefied gas carriers                                                                                                                                 MSC Bellissima accommodates
       and general cargo carriers. They follow the lead of                                                                                                                                5,500 passengers. The 177,500 GT
         BV’s recent Rules for container ships, increasing                                                                                                                             MSC Grandiosa is the first of a series
        accuracy by introducing the powerful concept of                                                                                                                                       of three Meraviglia-Plus ships
        equivalent design waves alongside new formulae                                                                                                                                            which will accommodate
                   for fatigue assessments. Bureau Veritas                                                                                                                                 6,200 passengers: a mid-section
            will extend the Rules to additional ship types                                                                                                                                   has been inserted to lengthen
       before the new Rules become compulsory in 2021.                                                                                                                                             the vessel. The next to be
                                                                                                                                                                                                   delivered will be the MSC
                                                                                                                                                                                              Virtuosa in 2020, followed by
                                                                                                                                                                                                the LNG-fueled World Class
                                                                                                                                                                                               series over the next decade.

                                                  The Olympic Life is                                   SUNSTONE PLACES
                                                  managed by Springfield                                    NEW ORDERS
                                                  Shipping. Hyundai Heavy                          The first expedition cruise ship to
                                                  Industries achieved the                               be built in China, SunStone’s
                                                  construction of this                       Greg Mortimer, was delivered by CMHI
                                                  318,676-dwt oil tanker                            in 2019. The 104m-long ship built
                                                  in March 2019.                                 to Polar Class 6 standards features
                                                                                          Ulstein’s X-bow hull, designed to improve
                                                                                                   comfort and efficiency. SunStone
                                                                                                       has ordered a further six ships
                                                                                                           to BV class, with up to two
                                                                                                              to be delivered in 2020.
                                                                                                                                                                                          SURGE IN CLASS
                                                                                                                                                                                        CHANGE FOR OSVS
                                                                                                                                                                                   A significant number of offshore
                                                                                                                                                                                         service vessels switched to
                                                                                                                                                                                    BV class during 2019, reflecting
                                                                                                                                                                                     our traditional strength in this
                                                                                                                                                                                 segment. Class transfers included
                                                                   BULK CARRIERS                                                                                                     multi-purpose support vessels
                                                                 MOVE TO BV CLASS                                                                                               from Boskalis, Fugro, Louis Dreyfus
                                                   BV-classed bulk carrier tonnage grew 6%                                                                                       Armateurs and Olympic Shipping.
                                                      over 2019, largely as a result of owners                                                                                    Two platform supply vessels from
                                                             transferring 68 existing vessels                                                                                      Gardline and Rohde Nielsen also
                                                        to BV class. Greek owners including                                                                                                         joined the fleet.
                                                             Star Bulk chose Bureau Veritas,
                                                        alongside owners from the Far East,
                                                                           including Sinokor.

18                                                                                                                                                                                                                       MARINE & OFFSHORE BUSINESS REVIEW     19
BUREAU VERITAS MARINE & OFFSHORE                                                                       BUREAU VERITAS MARINE & OFFSHORE
                                                leadership view                                                                                  BUREAU VERITAS’ PROFILE
                                                       #                                                                                                   #

                                  MARINE & OFFSHORE                                                                                                                                            140
                                 EXECUTIVE COMMITTEE                                                                                                                                           COUNTRIES

                     Bureau Veritas’ Marine & Offshore business is led by an Executive Committee.
                    Engineers and business leaders with an international background and outlook,
                                                                                                                                                    FOCUSED ON OUR CLIENTS,
                                                                                                                                                              DRIVEN BY SOCIETY                1,500
                 they steer a global organization of 2,650 people. Together, they lead the development                                                                                         OFFICES AND
                                                                                                                                           Bureau Veritas is a Business to Business to
                    of new services, rules and tools, and are spearheading a digital transformation
                                                                                                                                          Society company, contributing to transform
                                                                                                                                                                                               LABORATORIES
                         designed to deliver ever-better service to Bureau Veritas’ customers.
                                                                                                                                         the world we live in. Our mission is to reduce

                                                                                                                                                                                               77,000
                                                                                                                                               risk, improve our clients’ performance
                                                                                                                                            and help them innovate to meet society’s
                                                                                                                                                         challenges with confidence.
                                                                                                                                                                                               EMPLOYEES
                                                                                                                                                    A world leader in Testing, Inspection
                                                                                                                                              and Certification, we help clients across all
                                                                                                                                         industries address challenges in quality, health
                                                                                                                                            and safety, environmental protection (QHSE)
                                                                                                                                                                                               €5,1 BN
                                                                                                                                              and social responsibility. Through our wide      IN REVENUE
                                                                                                                                                      range of expertise, impartiality and
                                                                                                                                          independence, we foster confidence between
                                                                                                                                                 companies, authorities and consumers.
                                   MATTHIEU DE TUGNY             CLAUDE MAILLOT          PAILLETTE PALAIOLOGOU       PAUL SHRIEVE
                                        PRESIDENT              SENIOR VICE-PRESIDENT,        VICE-PRESIDENT,         VICE-PRESIDENT,
                                                                                                                                                        For 190 years, our brand has been
                                                                 NORTH ASIA ZONE            HELLENIC BLACK SEA     OFFSHORE & SERVICES              synonymous with integrity and trust,
                                                                                             & ADRIATIC ZONE                                      for the benefit of business and people.

                                                                                                                                                             OUR CORE SERVICES
                                                                                                                                               Bureau Veritas supports clients across
                                                                                                                                              all industries to improve safety, quality
                                                                                                                                             and performance throughout the life of
                                                                                                                                            their assets and products, and to achieve
         BRUNO DABOUIS              HERMAN SPILKER                KEREM KIPER                DAVID BARROW            KEVIN JARMAN                    continuous improvement in their
          VICE-PRESIDENT,             VICE-PRESIDENT,             VICE-PRESIDENT,             VICE-PRESIDENT,            CEO,                   management systems and processes.
           SOUTH EUROPE             NORTH EUROPE ZONE           MIDDLE EAST, AFRICA          SOUTH ASIA ZONE        MATTHEWSDANIEL
       & NORTH AMERICA ZONE                                        & INDIA ZONE                                                                        We do this via three core services:

                                                                                                                               TESTING                                                        INSPECTION
        LAURENT LEBLANC             FABRICE LASSALLE               CLARE PIKE             JEAN-BAPTISTE GILLET             IN A LABORATORY,                                                 VERIFIES ON-SITE
        SENIOR VICE PRESIDENT,        VICE-PRESIDENT,            HUMAN RESOURCES           STRATEGY & ADVANCED
       TECHNICAL & OPERATIONS             FINANCE                   DIRECTOR                SERVICES DIRECTOR           DETERMINES A PRODUCT’S                                           THAT A PRODUCT, ASSET
                                                                                                                             OR MATERIAL’S                                                  OR SYSTEM MEETS
                                                                                                                           CHARACTERISTICS
                                                                                                                                                     CERTIFICATION                         SPECIFIED CRITERIA

                                                                                                                                                     PROVIDES ASSURANCE
                                                                                                                                                       BY A THIRD PARTY
                                                                                                                                                       THAT A PRODUCT,
                                                                                                                                                      SERVICE OR SYSTEM
                                                                                                                                                    CONFORMS TO AN AGREED
                                                                                                                                                          STANDARD

        GIJSBERT DE JONG            NICHOLAS BROWN               PATRICK LE DILY            LAURENT HENTGES
         MARINE MARKETING            COMMUNICATIONS                VICE-PRESIDENT,             VICE-PRESIDENT,
          & SALES DIRECTOR              DIRECTOR                 LEGAL, COMPLIANCE        OPERATIONAL EXCELLENCE
                                                               & REGULATORY MATTERS        & INFORMATION SYSTEMS
20  
Front cover: Frederic Boudin, Stock image - P 1. Bureau Veritas - P 2. Baptiste Lignel - P 3. Stock image, Exmar, Naval Group -
P 4. CSSC, Stock image - P 5. Damen Shipyards, Seaspan - P 6. DSME - Tärntank Ship Management AB - P 7. Huding Shipyard, Exmar -
P 8. GTT, PONANT - P 9. Jan de Nul - P 10. Sabella, Saipem - P 11. Provence Grand Large - P 12. Naval Group, Stock image, Bureau Veritas -
P 13. Stock image, SBM Offshore - P 14. Jan de Nul - P 15. Stock image - P 16. DR, Bureau Veritas - P 17. DR, Bureau Veritas -
P 18-19. Pardus Energy Ltd, Bureau Veritas, MSC Cruises, Hyundai Heavy Industries, Aurora Expeditions, Louis Dreyfus Armateurs

                                                                                                                                             PEFC certified / This publication is from sustainably managed forests and controlled sources / www.pefc.org
                                                                                                                                             Design: www.kazoar.fr / Editorial: www.hollisbean.com / NP 499 DSM R15 E 2020 /

FOR MORE INFORMATION,
CONTACT BUREAU VERITAS MARINE & OFFSHORE

8 cours du triangle
92937 Paris La Défense Cedex - France
+33 (0)1 55 24 70 00

marine-offshore.bureauveritas.com

      Bureau Veritas | Marine & Offshore

      @BV_Marine

      @bureauveritas_marine
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