SEOUL, SOUTH KOREA, March 18, 2019 (GLOBE NEWSWIRE) -- eMARINE Global Inc. (OTC: EMRN), a leading provider of information and communications technology (ICT) for the maritime industry, was awarded a contract to supply its Warship-ECDIS (Electronic Chart Display & Information System) for 20 Republic of Korea Navy vessels. The contract is valued at 500 million Won ($500,000).
“We’re now reaching the replacement cycle for some of the earliest installations of our Warship-ECDIS for the navy and other government customers,” stated Ung Gyu Kim, Chairman and CEO. “We’ve supported these systems, on 215 naval ships, for the last nine consecutive years, placing us in a great position as a trusted solution partner.”
Under the terms of the 20-vessel contract award, eMarine Global will supply the warship version of its ECDIS to 10 navy destroyers and 10 support ships. The support ship installations will be equipped aboard newly built vessels, including port guard boats and fuel barges. The 10 destroyer installations are replacement orders to retrofit previously outfitted vessels.
eMarine Global has installed its ECDIS on a total of 376 vessels since launching the innovative navigation product in 2004. With a growing pipeline of retrofit and replacement opportunities and majority market share for its technology the Company has a strong competitive advantage for installations on newly built ships.
“ECDIS enables geographic navigation and operational command and control of ships,” continued Ung Gyu Kim. “As a critical component of smart ship solutions, our customers’ commitment to ongoing work, as evidenced by this latest award, is a strong testament to the industry-leading quality and positioning of our growing suite of information and communications technology (ICT) solutions.”
Founded in 2001 and based in South Korea, eMARINE Global is working with a growing base of marquee customers to achieve maritime ICT convergence through fully integrated products and services, offering state-of-the-art e-navigation, marine Internet of Things (IoT), and marine big data solutions, primarily in Korea with near-term expansion into U.S. and Chinese markets.
eMARINE Global’s customer base includes Hyundai Heavy Industries, Samsung Heavy Industries, and SAAB.
About eMARINE Global, Inc.
eMARINE is a provider of information and communications technology in the maritime industry. Specifically, eMARINE provides solutions for collection, integration and display of maritime information abroad and ashore by electronic means to enhance berth to berth navigation and related services. These solutions provide the most efficient means to secure the safety of life at sea and to protect the marine environment. All products and services are offered through subscription, installation, updates and/or maintenance contracts.
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