15 December 2022 – Nekkar ASA’s wholly owned subsidiary Syncrolift AS has received a letter of award to upgrade two shiplift systems at an undisclosed maritime zone in the Middle East.
The total contract value is approximately USD 10 million. The final contract is expected to be signed within December 2022.
Syncrolift will conduct engineering and project management from its headquarters in Vestby, Norway. The physical upgrade work of the two third-party shiplift systems will be conducted in 2023 and early 2024.
“Strategically this is a very important contract to us. We have talked a lot about generating more service revenue from our own installed base, but this award demonstrates that our specialist competence and technology can be applied to third-party shiplift systems too,” says Ole Falk Hansen, CEO of Nekkar.
In 2019, Nekkar initiated a project to generate more aftersales and service revenues from Syncrolift’s extensive global installed base of shiplifts and transfer systems. In 2020 this generated service order intake of NOK 28 million, rising to NOK 73 million in 2021. In the second half of 2022 alone, Nekkar signed shiplift upgrade contracts worth USD 15 million, or approximately NOK 150 million.
“Our shiplift technology is constantly evolving and we know that it offers substantial efficiency and cost benefits to our clients. Contracts such as this confirm that we have a highly competitive product,” says Rolf-Atle Tomassen, managing director of Syncrolift AS.