Lloyd’s Register Group has announced its acquisition of Ocean Technologies Group, a provider of human capital management and operational software in the global maritime industry, from European private equity firm Oakley Capital. This move will allow Lloyd’s to provide OTG’s solutions to over 1,000 shipowners and operators and over one million seafarers worldwide, among other benefits.
The International Maritime Organization has revised its Greenhouse Gas strategy to reach net-zero GHG emissions from international shipping by or around 2050 and a commitment to ensure an uptake of alternative zero and near-zero GHG fuels by 2030. To cope with this need, up to 800,000 seafarers will require training on alternative fuels and new engines by the mid-2030s.
Lloyd’s acquisition of OTG will enable them to offer a complete end-to-end energy transition solution for clients from advisory and feasibility studies on alternative fuels to the training and development of seafarers on the handling and use of those fuels, aligning with its goal to accelerate digital transformation in the industry.
“This is a really transformative acquisition for LR and our clients,” said Lloyd’s CEO Nick Brown. “With the acquisition of OTG we will be able to provide a strategic approach to attracting, developing, managing, and retaining maritime professionals at sea and ashore. Key to that future is the ability to unlock the potential of our people through investing in Human Capital Management and harnessing technological innovation across vessel operations.”
Thomas Zanzinger, CEO of OTG, said that becoming a part of Lloyd’s Register is an excellent opportunity to further extend global leadership in maritime, aligning perfectly with their mission, vision, and values toward a digital and sustainable future.
The acquisition of OTG follows the acquisitions of OneOcean in 2022 and the purchase of a 50% stake alongside the International Chamber of Shipping (ICS) in ISF Watchkeeper in 2023, allowing Lloyd’s to advise owners and operators when to deploy training at the most optimal time for competency development onboard. This transformative purchase reinforces Lloyd’s focus on maritime and commitment to providing trusted advice on safety and performance of assets and vessels.
