Dockstr celebrates success with $100 million worth of equipment listed for sale
Dockstr, the largest and most advanced online marketplace for equipment and services for the marine and offshore energy industries, is celebrating a first year of success with around $100 million worth of equipment listed by more than 500 registered users.
The platform currently has a diverse variety of items available for sale, ranging from large, technically complex equipment such as ROVs (remotely operated vehicles) and BOPs (blow-out preventers) to smaller constituent parts such as LARS (launch and recovery systems) or ship engines.
Whilst today, the marketplace allows businesses to attract buyers to listed equipment, Dockstr claims more could be done to match buyers and sellers in a truly intelligent marketplace.
The marine and offshore energy industries have traditionally allowed the long-term storage of surplus equipment in yards and at ports around the world. Dockstr believes that if just 10% of this surplus equipment, spares and inventory could be re-used or re-purposed, it would reduce the industry’s working capital needs and improve balance sheets to the tune of billions of dollars.
An emerging trend, the circular economy offers the opportunity for the industry to see what is available for re-use prior to committing to building new. This can potentially help waste reduction as less equipment will need to be commissioned. Such an approach can help tackle the traditionally perceived excesses of the oil industry, even if those perceptions may now be somewhat outdated.
The establishment of Dockstr represents the latest development in the move towards the enhanced digitalisation of processes and procedures in the oil and gas industry, ultimately enhancing the concepts of the digital oilfield and the industrial internet of things (IoT) within the sector.
Mr Slimane Bouabbane, Dockstr co-founder and CEO, said: “In our first year, Dockstr has established a solid base and a community of users as well as an extensive range of equipment listed for sale. We are seeing growing demand for our services from all corners of the world and from a range of adjacent markets such as decommissioning and marine renewables. We are working towards expanding into these sectors as many products have multiple uses. And expanding the marketplace to encompass services, products and rental is just the start of this digital journey.”
Mr Boubbane added: “We’ve seen our company recognised as a member of SUP46, the digital hub of Sweden, and we have been selected to join Swedish start-up-program Sting Accelerate, which is the leading accelerator in the Nordics and one of the best in Europe - a huge testament to the work of our team.”
Since launching last May, Dockstr (formerly The Oil and Gas Market) has been transforming the way equipment and services are bought and sold in the marine and offshore energy industries. Launched in Stockholm, the European hub for tech-based start-ups, the company has seen significant interest and subsequent adoption of its vision to create a digital marketplace.
Dockstr aims to be at the forefront of developing, promoting and implementing such digital solutions and the company’s unique position at the intersection of the tech and energy worlds gives it a strong foundation to achieve such ambition.