The English Channel is the busiest channel in the world. More than 500 ships pass through the Station every day, from cruise ships and yachts to fishing boats, tankers and military vessels.
With so much traffic, safety is paramount. Under international maritime law, ships must have a ‘transit’ on board, a black box showing where they are, where they are heading, and where other ships are approaching. .
SRT Marine Systemsa small company, based in Somerset, started the technology some 15 years ago and it is now used on hundreds of thousands of boats worldwide. The team has just gone a step further, with a new kit, Nexus, that connects to users’ mobile phones. They can see what’s ahead and communicate with the coast guard, other ships or crew wherever they are on their boat.
Launched a few weeks ago, Nexus has been getting a lot of attention. In the past, ship captains could only communicate with the outside world via old, cockpit-mounted radios, often of dubious quality. Nexus will roll out everything as orders come in, and expect to pick up sales early next year.
So far, so good. But SRT commissioner Simon Tucker also has a hand in his business, offering maritime surveillance through Maritime Domain Awareness Systems.
Oceans are dangerous places. Pirates can hijack ships, pirates can bring in drugs, weapons and immigrants, and terrorists can disrupt ships in transit.
Product direction: SRT technology requires ships to go to sea
However, integrated monitoring is thin on the ground. Aircraft systems are certified worldwide. Sea patrols are limited. Ten years ago Tucker and his team began developing sophisticated systems that would allow the nation’s coast guard and security services to monitor movement at sea and act quickly if activity was detected. suspicious.
The Philippines are early adopters, as is Saudi Arabia. A £165 million deal was signed with Kuwait last month, with more down the road, creating a series of projects worth more than £320 million over the next two years and long-term pipeline of more than £1 billion.
SRT also has two investors: David Brierwood, who developed the highly successful MSCI stock index series, and Ocean Infinity, which is run by billionaire fund manager Anthony Clake.
Brierwood invests in SRT because he thinks it’s a good business. Ocean Infinity is not only a shareholder but also a commercial partner. The company specializes in specialized underwater surveys, used by governments, defense contractors, researchers and large corporations. The relationship between Ocean and SRT allows both companies to offer more to their customers.
Midas Decision: SRT has risen 10 per cent to 41p since Midas took command of the firm two years ago but must continue. It’s not for the faint hearted but may be useful for the adventurous surfer.
Trade on: Goal Points: SRT Contact: srt-marine.com
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