WITH oil and gas industry leaders hoping technology can speed the recovery from the crude price slump in the North Sea we hear from a firm that has developed a revolutionary way of helping ensure rigs remain stable.

Name:

Kevin Moran.

Age: 45.

What is your business called?

Tymor Marine Limited.

Where is it based?

Aberdeen, Glasgow and Lafayette in Louisiana.

What services does it offer?

We are naval architects and marine consultants and offer a range of design analysis services for the marine and offshore energy industries from sea fastening of project equipment through to stability studies for drilling rigs.

At the heart of our business plans is our MOSIS technology, which can be used to determine a floating vessel’s stability while it is on location. This has the potential to save the offshore and marine industry millions of pounds every year as well as improving safety on vessels like car ferries and cruise ships. It means rigs and Floating Production Storage and Offloading vessels don’t have to be taken out of service and moved to calm waters, normally inshore, which the traditional method – using piano wire, a bath of oil and a bob weight – requires.

The need to determine stability is critical for all vessels. Whether you stay upright, turn upside down or sit at an odd angle all depends on the centre of gravity. When equipment is added, the extra weight can alter the centre of gravity adversely if not properly controlled. FPSOs and drilling rigs face weight additions due to the number of people on them and the amount and nature of activity which takes place on board.

To whom does it sell?

Our clients range from oil companies and subsea construction companies to vessel operators such as Cal Mac.

What is its turnover?

Turnover was approaching £1 million when the oil slump hit and this year we expect to be back to that level.

How many employees does it have?

We have 11 employees and are looking to grow that this year.

When was it formed?

The company started operations in 2012.

Why did you take the plunge?

I always wanted to work for myself and my wife Caroline told me I would never be happy in what I was doing that until I did that - and she was right.

I also felt that the huge potential of MOSIS, which my business partner Professor Colin MacFarlane developed with the late Mike Bradley in the early 90s, had never been fulfilled because he was so involved in his academic work. I believe passionately it can be transformational. Starting Tymor also gave me a chance to work with Colin who is one of the smartest guys I know.

What were you doing before?

I started off in the merchant navy and became a chief engineer when I was 26. I then decided to leave the sea to study at Strathclyde University. It was there I met Colin who was my project supervisor and we became friends and eventually business partners. Before launching Tymor I held senior management positions in companies including the Wood Group and DOF Subsea.

How did you raise the start-up funding?

We were completely self-financed from the beginning.

What was your biggest break?

The American Bureau of Shipping approved the original MOSIS instruments when they were first developed in the 1990s. We hope to get approval from the ABS for the latest version. All the signs have been positive so far.

What was your worst moment?

Fortunately we haven’t had too many bad moments but we did lose a significant amount of money when an engineering business, which is now in administration, hit financial difficulties.

What do you enjoy most about running the business?

Having the freedom to make our own decisions and to drive the business in the direction we think is best without having to seek anyone else’s approval to make decisions

What do you least enjoy?

Probably the administrative things I have to do. Our office manager, Sarah McBain, does a great job and takes away a lot of the pressure but there are still things I have to do as an owner which you don’t have to do if you work for a big company.

What are your ambitions for the business?

We want to see MOSIS on drilling rigs and floating production units worldwide and we are working to develop a version which will allow vessels such as cruise ships and car ferries to track their stability in real-time.

What are your top priorities?

We want to grow the business and be seen as the go-to experts for naval architecture consultancy - both for clients and for staff.

We want to attract bright individuals to come and work for us and help us grow the business here and in the USA. Our US base is near Houston for the oil and gas industry and Miami for the cruise and yachting industry.

What could the Westminster and /or Scottish Governments do that would help most?

Scottish Enterprise helped us launch in the US and they are supportive in the research and development field. We are working with them to secure some financial support but this process can be daunting when you first start. Obviously the process has to be robust but some streamlining would be helpful. We believe we have the potential to provide stability solutions for the Ministry of Defence but we have found it difficult to gain access to this sector of the market.

What is the most important lesson you have learned?

I think it would be never to allow people to build up big debts. One company owed Tymor nearly £70,000 and it cost us approximately £7,000 in lawyer’s bills to get that money back, fortunately just before the company went bust.

How do you relax?

Hanging out with my boys James, 10, Andrew, 7, and Angus, 5.

James is football crazy and plays for a boys’ club so I always try to go and watch him and we all watch a lot of football together. I do enjoy keeping fit and running.