As for many industries in recent months, there have been significant challenges for those operating within the marine sector. However, unlike some areas of business such as hospitality and retail, where the impact of the pandemic has hit hard across the board, there are sub-sectors of the marine industry which remain positive.
Many marine and shipbuilding projects, by their very nature are long term and although impacted by the restrictions brought about by the pandemic, remain in place if delayed somewhat.
There are however sub-sectors where, for example, the availability of attractive finance rates has encouraged investment in the commissioning of support vessels for marine renewables projects. Also, the large leisure marine sector, which includes Superyachts, remains largely unaffected by current events.
Marine & Industrial Transmissions’ Sales Manager Tom Binns, Reich’s partner within this sector commented: “ We have definitely seen some positive trends in a number of the sub-sectors within marine. In addition to the investments in support vessel’s for renewables, we have also seen an increase in activity with military and defence related projects. Currently we are also bidding for a new project which will represent an investment of over £9 million in nine new vessels for port operations within the UK”
Reich’s TOK coupling range, renowned for its robust design and reliability, is at the heart of many of the coupling and driveline projects undertaken by MIT. Success for MIT with the new multi vessel project, will see a requirement for a total of 18 Reich TOK units, representing a significant project for both parties.
(Reich’s TOK Coupling has been at the heart of many MIT projects so far in 2020)