Bureau Veritas has invested in software company OrbitMI as the two companies forged a strategic partnership on performance management in shipping.

The companies did not disclose the size of the investment, but OrbitMI chief executive Ali Riaz told TradeWinds that it was enough for Bureau Veritas to win a seat on his company’s board of directors.

New York-based OrbitMI, which spun off from Swedish tanker owner Stena Bulk in 2019, is a software-as-a-service company whose platform provides vessel performance and maritime intelligence services for shipowners, ship operators and charterers.