Business
Euro Tech Holdings Company Limited Reports Ballast Water Treatment Systems ("BWTS") Update
HONG KONG, Oct. 9, 2020 /PRNewswire/ -- Euro Tech Holdings Company Limited (Nasdaq: CLWT) reported that the company has recently received a letter of award
About this update from Euro Tech Holdings Company Limited
[{"type":"text","content":"HONG KONG, Oct. 9, 2020 /PRNewswire/ -- Euro Tech Holdings Company Limited (Nasdaq: CLWT) reported that the company has recently received a letter of award worth about US$440,000 from a Shanghai port client. This project covers design, manufacture, supply and commissioning of a ballast water port solution system with 1,000 cubic meters per hour treatment capacity and is expected to complete before the end of this year.\nThe company has become the first pioneer to commence on commercial port reception ballast water treatment in the Asia Pacific region. This new milestone will consolidate the company's business positioning in China as well as Asia. It is expected that the company will receive more potential leads after the completion of this benchmark project.\nTo comply with the International Maritime Organization (\"IMO\") IMO revised G8 requirements, the company's BWTS has been undergoing the land based test in Xiaoyangshan Harbor in Shanghai. The company expects to obtain the revised G8 type approval certification in October 2020. \nAbout BWTS\nBWTS are an imminent requirement by IMO to prevent the biological unbalance caused by the estimated 12 billion tons of ballast water transported across the seas by ocean-going vessels when their ballast water tanks are emptied or refilled. In 2012, ballast water discharge standard became a law in the US. Any vessel constructed in December 2013 or later will need to comply when entering US waters, and existing vessels will follow shortly after. IMO's Ballast Water Management Convention entered into force for new-built vessels on September 8, 2017 after ratification by 52 States, representing 35.1441% of world merchant shipping tonnage. In July 2017, IMO decided that the phase-in period for ballast water system retrofits started on 8 September 2019. \nThe company obtained type approval certificate from China's Classification Society for its 200, 300, 500, 750, 1200 and 1250 Cubic Meters per hour BWTS and Alternate Management Systems ('AMS\") acceptance for its full range BWTS in 2016. \nThe IMO convention stipulates that type approval for revised G8 requirements must be obtained for all BWTS installed on or after October 28, 2020.\nThe ballast water port solution system is a system installed in port to offer ballast water treatment services for ocean going ships without their own BWTS and...