Report - Kongsberg Gruppen 2007 - Kongsberg Maritime ...

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84 KONGSBERG'S POSITION IN THE MERCHANT MARINE MARKET Our most important product areas for the merchant fleet market Dynamic positioning systems Steering systems that make it possible to keep a vessel/installation in the same position under demanding weather conditions Navigation systems Equipment for ships' bridges Automation and surveillance systems Systems for surveillance and the control of ships' engines, cargo, manoeuvring and propulsion Maritime simulators and training systems Systems for merchant marine and to other applications The market for commercial vessels en - compasses all types of ships, from simple dry cargo carriers to advanced tankers for the transportation of liquefied natural gas (LNG/LPG). Passenger ships in cruise and ferry traffic are also an important part of the merchant marine. The contracting of newbuildings is closely related to the ex pect ed trend in transport needs. Under - lying growth in the world economy gen - erates a greater need for sea transport of people, energy, raw materials and finished products. Another, increasingly more im - portant factor that affects orders for new vessels involves the stricter environmental standards facing international shipping. The demand for new commercial vessels has been high in recent years. At the end of 2007, the leading shipbuilders' pro - duction capacity was booked solid for the next four years. In 2007, Kongsberg saw a substantial increase in new orders for commercial vessels. Kongsberg also supplies systems for navigation, dynamic positioning, monitor - ing and the control of cargo and engines for different types of commercial vessels. Deliveries increase in scope and value in proportion to how sophisticated a vessel is. The Group is a global market leader in systems integration, automation and sur - veillance systems for merchant vessels. Kongsberg is a strong brand name in international maritime communities. The company has built up a comprehensive distribution and service network, and we have our own local subsidiaries in the most important growth markets. It is im - portant to be present in these markets since vendors with a firm local footing often have an advantage. Market competition is keen. Kongsberg's systems represent 'the central nervous system' in the operation of modern commercial vessels. By in - cluding as many functions as possible, the Group is gaining a competitive edge. A world-wide support network open 24/7 ensures that customers get help whenever and wherever they need it. Process automation Systems for the control and coordination of onboard processes for LNG transport MARKET DRIVERS AND TRENDS Shipbuilding Shipyard capacity is increasing, mainly in China and South Korea. Both countries are building new shipyards at the same time as productivity is improving among established shipbuilders. In addition, new shipyards are being built in Vietnam, the Philippines and India. The leading shipyards in Asia currently have well-filled order books through 2011, and midsized shipyards in South Korea and China have backlogs equivalent to nearly three year's capacity. Types of ships and geographical breakdown It is of the utmost importance to be in the van - guard of new trends. New trends tend to outpace general market growth. This applies to most types of vessels and in most geographical areas. The emphasis on more environment-friendly energy calls for a shift of power production from coal and oil to natural gas. This will re - quire more LNG tankers. In the short term, new contracts depend on decisions to develop new gas fields and on the completion of terminals. LNG production vessels are a solution which can sometimes reduce the need for terminals. The anticipated asymmetry between the pro - duction of and the demand for oil is expected to have a positive effect on the tanker market in a longer term perspective. Kongsberg – Annual Report and Sustainability Report 2007
THE GROUP VISION, OBJECTIVES AND DIRECTORS' REPORT & ACCOUNTS BUSINESS ACTIVITIES CORPORATE GOVERNANCE AND SUSTAINABILITY REPORT 1–11 STRATEGY 12–19 20–75 76–101 FINANCIAL STATEMENTS 102–125 126–160 85 DIVISION SUBSEA The Subsea Division operates in the product areas underwater positioning and communication, hydrography and shallow seismic, sonars for the offshore and the defence markets, underwater cameras, fisheries and fisheries research (Simrad), as well as autonomous underwater vehicles. The division achieved good results and had a strong influx of new orders in all prod uct areas in 2007. The division signed an important contract worth approx. MNOK 350 for supplying advanced sub - sea systems for India's National Hydro - graphic Office's six new surveying vessels. The division also signed a contract with the Finnish Armed Forces valued at approx. MNOK 180. Both these contracts include autonomous underwater vessels, hydrographic multibeam echosounders, advanced sonars and acoustic positioning and navigation equipment. The offshore oil and gas sector was a strong market segment in 2007, and this led to good results for underwater cam er - as and sonar applications associated with remotely operated vehicles (ROVs). The demand for acoustic positioning systems (HiPAP) and emergency communications systems for Blowout Preventers in the field of drilling increased substantially in 2007, leading to a very good influx of new orders. HiPAP equipment furnishes a posi tion reference for dynamic positioning sys tems, as an important instrument in the survey industry and for positioning in con nection with underwater construction work. The division has long traditions in hydro - acoustics and a sound basic tech nology which is used in different product areas and adapted to different market seg - ments. It is imperative to engage in con - tinuous research, technology and prod uct development to maintain the division's market position. It is also im portant to have good knowledge of ap plications to apply existing technology in new ways. This is done by concentrating on human resources development and proprietary development, in addition to engaging in binding cooperation with researcher train ing and research institu tions such as the Norwegian Defence Research Establish ment and the Institute of Marine Research. A new, highly sophisticated sonar for detailed seabed inspection, the HiSAS 1030, has been developed in cooperation with the Norwegian Defence Research Establishment. A special signal processing concept facilitates a precision and resolu - tion several times better than conven - tional sonars. The sonar, which is parti c - ularly well suited for the detection and classification of objects under water, is being delivered to the Norwegian Navy and is also part of the contract with the Finnish Navy. Within hydrography, the new versions of multibeam echosounders have been well received by the market. Kongsberg Maritime enjoys a leading position in the delivery of equipment for seabed survey - ing to research vessels and hydrographic institutions. Fishery activities (Simrad) also devel - op ed favourably in 2007, thanks not least to the world's first 3D multibeam sonar which has been specially designed for pre - cision measurement of fish stocks for French Research Institute for Exploita tion of the Sea (IFREMER) and the Norwegian Institute of Marine Research. Several con - tracts have been signed for such sonars. Operating revenues Subsea Division MNOK 1 200 1 000 800 600 400 200 0 05 06 07 Kongsberg – Annual Report and Sustainability Report 2007
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161 ADDRESSES The Group is headquar
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