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    Sentinel Marine invests in more newbuilds

    Vessel & ROV News // May 21, 2013

    Sentinel Marine, in partnership with Maas Capital Investments - an investment fund of ABN AMRO Group with a focus on the offshore oil and gas industry - has ordered four new ships, with an option to order a second four. Pareto Project Finance AS was the manager and sole strategist for the equity issue, which formed part of the total project which is valued in excess of £100million.

    Once launched, the Sentinel Marine fleet will be the youngest and most technologically advanced serving in the North Sea, the company claims.

    "The fleet will have a desirable edge in environmentally friendly terms, due to the fuel-efficient design of the vessels as well as offering the crews a higher level of on-board comfort," the company said in a statement.

    The vessels will comply with Pan European industry standards, which will allow the fleet to work in all areas of the North Sea as well as throughout the UK Continental Shelf.

    Rory Deans, Chief Executive Officer of Sentinel and industry specialist, said: “Sentinel Marine’s emergence in Aberdeen will create approximately 200 new seafaring employment opportunities, as well as a further 15 shore-based positions in the coming year.

    "As well as these employment opportunities, it is expected that Sentinel will establish links with local businesses to support its operations in the North East of Scotland. This type of investment in the oil industry demonstrates Aberdeen’s relationship with the North Sea as being one of solid growth”.

    Mr Deans also has companies in Singapore with orders for six PSVs and two AHTS vessels in addition to the Aberdeen-bound Emergency Response and Rescue Vessels.

    In Aberdeen, Sentinel Marine will be supported by Jonathan Mitchell as Managing Director, and Vincent Slattery as Chief Financial Officer, both who have backgrounds in the North Sea shipping industry.

     

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