Geoships acquires Brooklyn ShippingCompany News // July 8, 2011
Aberdeen-based SeaHold Geoships Limited has announced the acquisition of marine management services company Brooklyn Shipping Ltd (BSL).
The acquisition is expected to lead to BSLís staff numbers more than doubling to 80 this year and also contribute to a significant increase in Geoship's pre-tax earnings on its projected turnover of nearly £50million for 2012.
Formed in 2003, Geoships has a strong focus on offshore renewable energy projects, whilst also being able to offer services in support of subsea oil and gas related projects.
It chartered its first multi-purpose offshore vessel, Stril Explorer, from Mokster A/S until 31st August 2012 to support the growing offshore renewable energy market and the subsea sector.
Ellon-based BSL was formed in 1983 and over the years has created a compact, cost-effective marine services organisation with substantial experience of the management of dynamically positioned subsea operations support vessels.
Geoships said the deal with BSL will secure access to the services of the experienced marine management provider for Geoships two new vessels, due in the next nine months, and Stril Explorer, which is currently on charter with RBG.
BSL currently employs five office staff covering international marine management operations. This is expected to increase to around 10 in the next year, with all of the new positions being created at BSLís new Ellon offices.
In addition to its office-based management resource, BSL has 35 sea-going staff and this number is also expected to increase following the acquisition, to at least 80 in the next six months, to support Geoships.
Following the acquisition, BSL will become a division of the Geoships Group and it will continue to be managed by BSLís existing managing director, Rennie Cameron. It will retain its own name and branding, whilst supplying both GEOSHIPS and the wider industry with an increasing portfolio of marine management services.