The software is being implemented across Thor's existing 29 vessels and its shore-based organisation in addition to being rolled out to new ships in the expanding fleet.
Thor, based in the Faroe Islands in the North Atlantic, has chosen to install the entire BASSnet package, with modules covering planned maintenance, procurement, crew management, safety and risk management, and projects.
The software will also offer a 'management dashboard' that will provide the company with KPIs (key performance indicators).
"Our evaluation (of the software packages available) considered the crucial need to keep the top management informed on their vessels’ operations via reporting across the fleet, the company and different departments," said Gunnbjørn Joensen, managing director at Thor.
"Based on the facts and figures, we are able to make wise decisions."
"We are impressed by the superior functionality of BASSnet solutions, and the extent to which these solutions enable Thor to streamline its end-to-end business processes."
Thor’s strategic purchasing manager, John Eikhólm, also added that the company expects to increase efficiency and achieve significant savings as a result of streamlining operations with the new system implementation.
"The BASS concept of developing one complete solution that integrates all aspects of maritime operations makes good sense to us," said Mr Eikhólm.
"The advantages of managing the business in a holistic manner across all areas and departments, that is driving fleet performance to new dimensions, are obvious with the future-proof approach adopted by the BASSnet Fleet Management Systems."