Operational Overview

Marine Surveys

BMT is one of the world's leading independent marine surveying companies, providing a wide portfolio of services in cargo, hull and machinery and technical matters.


Both claims activity and blue water (coastal) survey volumes saw an upturn in the year as international marine insurance markets strengthened in 2013, but the brown water (inland) survey market remained challenging. To further strengthen BMT's market position in blue water surveys, we acquired Netherlands based marine survey and consulting engineers, Verweij & Hoebee, which has built a strong reputation as a leading provider of surveys in Europe.


To better position ourselves in the market and streamline delivery of surveys, we restructured our survey operations during the year, such that an increasing number of our activities are being conducted through a single brand, BMT Surveys, whilst maintaining the independence and specialist skills of the well established surveys businesses. We believe this will allow a better way of sharing and combining resources, offer customers a simpler and more unified service, and pave the way for future expansion, both in Europe and further afield. The market has responded well to this change and to the acquisition of Verweij & Hoebee.

Another new initiative during the year was the opening of our new London office, which made a good start, capturing a steady volume of protection and indemnity and hull & machinery work from London clubs and brokers.


The establishment of a fire casualty capability also represents an important new development, enabling BMT to exploit the growing capability gap between the adequacy of fire protection systems and the growing risks associated with increased containerisation and undeclared inflammable cargoes.


Outlook

Rising claims trends, coupled with more investment by ship owners in loss prevention and safety audits, should help to maintain our growth in our international blue water survey markets. The brown water survey markets are, however, unlikely to see a resurgence in the short-term, following a number of structural changes in the inland waterways markets. We expect to capture a growing share of the niche fire casualty market, while our strengthened, unified position across survey markets should continue to deliver benefits to our customers and

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  • 1
    BMT expanded into central London with the opening of a new office to support its rapid growth
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    BMT acquired Netherlands based Verweij & Hoebee, a leading provider of hull and machinery surveys in Europe.
6  |  BMT Group Annual Review 2014