BW Adds KVH Connectivity Services to 45 More Vessels, and Extends Airtime Agreement for Prior Vessels
MIDDLETOWN, R.I., June 04, 2018 – KVH Industries, Inc., (Nasdaq:KVHI) has announced that BW Group, a worldwide leader in maritime energy transportation, has chosen KVH’s connectivity services for 45 additional vessels in its fleet. The two companies will also continue with a connectivity contract for the LPG and LNG vessels in BW’s fleet that have had KVH’s VSAT systems and services since 2013.
“We chose KVH because of their commitment to excellence, the ease of working with a sole provider, and the cost advantages that we can achieve with fast, reliable connectivity and global coverage,” says Tor-Egil Gjulem, BW Group’s global head of procurement. “Connectivity is the key to digitalization of many maritime operational functions.”
BW has more than 80 years’ experience in maritime energy transportation, and has a large fleet that includes product tankers, LPG and LNG carriers, FSRUs, dry bulk carriers, chemical tankers, offshore vessels, and crude carriers.
“We are thrilled to work with a maritime leader such as BW, whose commitment to performance, operational efficiency, and crew welfare is well known,” says Mark Guthrie, vice president, Asia Pacific, for KVH. “The fact that they are choosing to add more vessels, based on their experience with KVH for the past five years, is a testament to the strong relationship that has developed between our two companies.”
For the 45 additional vessels, BW has chosen the dual mode C/Ku-band TracPhone® V11-IP satellite antenna system and the Ku-band TracPhone V7-HTS; the particular system for each vessel is dependent on type of vessel. The TracPhone V11-IP and the TracPhone V7-HTS are designed for KVH’s mini-VSAT Broadbandsm connectivity service. The vessels will also receive news and entertainment content via KVH’s IP-MobileCastTM content delivery service.
“With our vessels transiting the oceans, it is extremely important to have a connectivity provider like KVH, which has the technical and service capability to address issues immediately, and ensure that our fleet is always benefitting from uninterrupted connectivity,” says Juzer Vasi, head of business solutions – fleet, for BW.
KVH is a mobile tech innovator that provides connectivity solutions for commercial maritime, leisure marine, and land mobile applications on vessels and vehicles, including the award-winning TracPhone and TracVision® product lines, the global mini-VSAT Broadband network, and AgilePlans™ Connectivity as a Service (CaaS). The company’s Videotel™ business is a market-leading provider of training films, computer-based training, and eLearning for the maritime industry, and its KVH Media Group provides news, sports, and entertainment content with such brands as NEWSlinkTM and SPORTSlinkTM.
About KVH Industries, Inc.
KVH Industries, Inc., (Nasdaq:KVHI), is a global leader in mobile connectivity and inertial navigation systems, innovating to enable a mobile world. The market leader in maritime VSAT, KVH designs, manufactures, and provides connectivity and content services globally. KVH is also a premier manufacturer of high-performance sensors and integrated inertial systems for defense and commercial applications. Founded in 1982, the company is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL, and more than a dozen offices around the globe.
This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding the functionality, characteristics, quality, and performance of KVH’s products and services; customer demand, preferences, requirements, and expectations; and the services to be provided under agreement with BW Group. The actual results we achieve could differ materially from the statements made in this press release. Factors that might cause these differences include, but are not limited to, unanticipated technical and other challenges that arise in providing these services; potential levels of customer demand for data services beyond our current expectations, which could exceed system capabilities in certain regions; competition for satellite capacity, which over time could increase our costs and decrease service availability; and potential unforeseen costs or expenses of providing the products and services. These and other factors are discussed in more detail in KVH’s most recent Form 10-Q filed with the SEC on May 4, 2018. Copies are available through its Investor Relations department and website, http://investors.kvh.com. KVH does not assume any obligation to update its forward-looking statements to reflect new information and developments.
KVH Industries, Inc. has used, registered, or applied to register its trademarks in the U.S.A. and other countries around the world, including but not limited to the following marks: KVH, TracPhone, mini-VSAT Broadband, IP-MobileCast, TracVision, AgilePlans, Videotel, NEWSlink, and SPORTSlink. All other trademarks are the property of their respective companies.