Lloyd’s Register acquire Aberdeen big data company with eye to maintenance savings

Lloyd’s Register has acquired RTAMO Ltd and intends rolling out the Scottish company’s signature Real Time Adaptive Maintenance Optimisation (RTAMO) software to commercial shipping.

The data-driven, cloud-based solution is designed to reduce maintenance costs for asset owners and has been successfully adopted by the upstream offshore oil industry where maintenance costs are high.

More than 20 offshore facilities for major international operators and mid-cap operators, including Maersk, BG Group, Shell and Centrica storage, have delivered savings of up to 30% using RTAMO, LR said in a statement.

“At this critical economic time of low oil prices, asset owners are seeking better ways to maximise value,” said Murray Douglas, Lloyd’s Register’s strategic project director.

“RTAMO enables this to be done safely and sustainably by enabling asset owners and operators to tailor their maintenance strategy and preventive maintenance plans to suit their specific commercial needs.”

Dr Neil Arthur, now Head of RTAMO within Lloyd’s Register, said: “Our methodology and software supports all phases of asset life – design, operation, tail end life and decommissioning. It’s also evidence-based, which has an advantage over conventional maintenance planning.

“It is sensitive to commercial factors such as commodity price, mean time to failure and cost of planned versus corrective maintenance. The very fact that we take people out of a hazardous environment has a direct impact on improving safety.”

The acquisition of Aberdeen-based RTAMO is the latest investment by Lloyd’s Register to drive data and digital innovation solutions. In June 2016, it announced its collaboration with Silicon Valley-based greenfence - the first platform technology serving the Testing, Inspection and Certification (TIC) marketplace.

“Our global technology and innovation team is also developing a range of innovative data and digital solutions, such as remote presence inspections, cyber-security, additive manufacturing and asset lifecycle management, harnessing and developing the capabilities within our Global Technology Centres in Singapore and Southampton,” said Lloyd’s Register chief technology officer Nial McCollam.

“RTAMO has been developed for the upstream offshore oil industry where maintenance costs are high.  The same methodology and software is equally applicable in other high risk, capital intensive industries – such as refining, petrochemical, renewables and shipping.“

Posted 14 November 2016

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Kent Gray

Middle East Correspondent

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