TMS’s BURRI vessels

On September 8, PANASIA, an eco-friendly system expert, successfully completed scrubber installations on 53 vessels in total, following the last installation on TMS Dry Ltd.’s bulk carrier WOOLLOOMOOLOO.

This news comes as South Korea’s economy is still suffering a blow from the coronavirus (COVID-19). Reflecting this, Korea Development Institute (KDI) lowered its forecast for the country’s economic growth to -1.1%, 1.3% lower than its May estimate (0.2%).

The installations are the outcome of a purchase contract PANASIA signed with TMS Ltd., a European shipping company, in Athens, Greece in July 2018 for the sale of scrubber systems for 53 vessels in total. After being recognized for its competence in project execution, the company followed this up with another order for an additional 48 vessels. So far, the company has signed scrubber purchase contracts for a total of 101 vessels (53 bulk carriers and 48 tankers).

PANASIA’s maritime satellite control system

Since its successful installation on Aframax bulk carrier BURRI in December 2018, at a repair shipyard in China, PANASIA has carried out a number of projects in Europe, the Middle East, and Asia, averaging four scrubbers each month.

Despite COVID-19 causing a global economic slowdown, PANASIA has reportedly executed all its installation projects without delay using its global network, a significant accomplishment considering the many flight suspensions. This remarkable feat is the result of training specialized engineers through years of technological exchange with its global business partners.

PANASIA believes that it will be able to stem the tide of the crisis wisely by training engineers so they can execute projects anywhere in the world and by providing contactless customer service, including a maritime satellite monitoring system.