The US company has secured significant contractual arrangements to provide regulatory compliance services to multiple oceangoing vessels in key regions including the Caribbean, China, Australia and the Americas. These contracts, which have an average term of three years, are a testament to the high level of customer confidence in the company’s ability to provide the highest level of service.
In the fast-paced world of shipping and offshore oil/drilling operations, maintaining the highest quality standards and achieving maximum efficiency is of paramount importance. To meet these demands, shipping companies and offshore oil/drilling companies rely on safe and efficient testing and inspection procedures. The increasing emphasis on safety and practicality has fueled the expansion of the Testing, Inspection and Certification (TIC) market as companies and businesses seek reliable methods to ensure compliance and streamline their operations.
In an increasingly competitive and regulated environment, companies and corporations are realizing the value of TIC in managing their operations, where these services enable them not only to meet regulatory requirements, but also to streamline their processes, reduce downtime and enhance their reputation with stakeholders to improve. In addition, TIC supports sustainability initiatives by helping companies comply with environmental regulations and standards, thereby contributing to responsible and sustainable practices in the shipping and offshore oil/drilling industries.
The maritime industry is witnessing a significant shift towards environmental, social and governance (ESG) activities, driven by growing environmental awareness and regulatory compliance. Companies are now tasked with measuring and defining their carbon footprint, offsetting emissions through carbon credits and disclosing their ESG activities. In this landscape, the role of Testing, Inspection, and Certification (TIC) has become multifaceted, encompassing critical tasks such as verifying ESG claims and helping investors evaluate companies’ sustainability practices. The market for TIC services for the investment community and companies looking to meet the needs of ESG-conscious investors is estimated at US$1 billion annually, with a compound annual growth rate (CAGR) of 10% to 15%. The TIC industry has a bright future as the global market size for Testing, Inspection and Certification is expected to reach US$349.27 billion by 2030 according to industry reports, and will grow at a CAGR of 5.3% from 2021 to 2030. The rise in demand for ESG verification is being driven by regulatory compliance requirements, particularly in the United States, and increasing demand from institutional and retail investors for ESG investing. As ESG investing has become an enduring and significant force in the market, the issue of corporate “greenwashing” has emerged, where companies may exaggerate or make false ESG-related claims. This reinforces the need for investors to verify methods and results claimed by companies and to rely on TIC companies to provide reliable and independent verification services. As the maritime industry continues to embrace ESG practices and investors increasingly value sustainability, TIC plays a crucial role in providing objective and credible verification of companies’ claims. With its expertise in measuring, verifying and certifying environmental performance, TIC helps companies and investors make informed decisions, promote transparency and adhere to the highest standards of ESG compliance.
Regulatory compliance, particularly in the United States, combined with growing demand for ESG investing from institutional and retail investors, has meant that asset managers are increasingly required to review the ESG claims of companies in their portfolios. This need has been compounded by the rise of ESG investing as a major force in the market, leading to the phenomenon of corporate “greenwashing”, where companies exaggerate or make false ESG claims. As a result, investors rely on Testing, Inspection and Certification (TIC) companies to provide verification services.
At the forefront of the TIC industry is Ergonav Group, a leading testing and environmental services brand with a focus on the maritime and offshore sectors. Recently, the first private US-based company was accepted and recognized by the American Bureau of Shipping (ABS) as an approved supplier for post-installation biological testing of ballast water management systems.
The Company has contracted to provide its services to various liners in the Caribbean, China, Australia and the Americas with an average contract length of three years. This reflects the high level of confidence that customers have in Ergonav Group’s ability to consistently provide reliable services. Market experts rank Ergonav Group among the top 10 TIC companies worldwide, competing with multinationals such as SGS, Eurofins and Viswa Labs.
Headquartered in New York City, Ergonav Group has a global footprint through strategically positioned service stations in key maritime hubs around the world including Houston, New Orleans, Long Beach, Cartagena, Panama, Buenos Aires, Vancouver, Santos, Tokyo , Cape Town, Singapore, Dubai, Sydney, Rotterdam, Dakar, Gibraltar, Anchorage and Hawaii.
The company offers a wide range of services including asbestos management and removal, gas, oil, biodiesel and crude oil laboratory analysis, ballast water laboratory analysis, D2 BWTS commissioning testing, hazardous materials inventory (IHM) and noise and pollution Vibration Measurement & Analysis. These services aim to prevent the spread of harmful aquatic organisms, ensure safe dismantling of ships and offshore platforms, and assess noise and vibration levels for ships. With a team of professionals who are experts in engineering and environmental compliance, Ergonav Group offers its customers reliable, accurate and efficient testing and inspection services to ensure regulatory compliance and optimize fleet performance. The company’s unwavering commitment to reliability has helped establish it as a leading player in the TIC industry for the maritime sector.
With a strong presence in the most important maritime hubs worldwide, the company is ready to seize new opportunities in the industry and expand its activities worldwide. The group is making progress not only in the maritime industry, but also in the fields of waste water/industry and nuclear plants. During this year, the company made significant investments in laboratory facilities and equipment, establishing Biocom Inc, an ISO 17025 and EPA technology focused laboratory company in New York City and Houston, USA. This investment aims to improve day-to-day operations and further solidify its commitment to providing reliable services. Ergonav Group has earned a reputation as a symbol of trust and quality in environmental compliance services and is well positioned for continued growth and expansion in the global TIC market.