Review of performance for 2022

Outlook Global financial uncertainties are having a major impact on the commercial maritime sector, but we are seeing shoots of recovery in some sectors and aligning our strategy to exploit these opportunities. Offshore renewables remains the most promising sector with new wind farms planned off Australia and the US, but there will be a lag before significant CTV and SOV orders are realised. Countries have released their national shipbuilding plans and major shipyards are continuing to pursue the opportunities they present. The role of the independent designer is being squeezed as shipyards look to ‘in-house’ capabilities but will likely require consultancy support to meet their order pipeline. The evolution of green technologies will bring an increased focus on compliance, managing environmental impacts and efficiency, with an increasing need to help customers through the choices that need to be made. Our investments will enable us to exploit the continued shift towards data, digital and autonomy across the maritime sector, both at sea and onshore. Our engineers and architects provided additional design engineering support to defence company Babcock, which is part of a consortium providing planning for Poland’s new MIEZCNIK frigate programme. This should lead to further support for both the Babcock Arrowhead 140 export programme and the UK Ministry of Defence (MOD) Type 31 In Service Support programme. (Below) ‘Offshore renewables remains the most promising sector with new wind farms planned off Australia and the US.’ We won detailed design work for three CTVs for wind farms on the north-eastern coast of the USA. These vessels will maximise safety, performance, seakeeping, and fuel economy by using our most recent innovations, including our latest generation in-house Active Fender System™ (AFS), which ensures the safest possible vessel for wind farm transfer operations.) (Left) 27