Monday, June 6, 2016

Major Maritime Salvage Group Celebrates First Birthday

New Company Aims at Offshore Decommissioning
Shipping News Feature
US – NETHERLANDS – WORLDWIDE – Just over a year ago we reported how two major players, Svitzer Salvage and a part of the Maersk Group, and Titan Salvage, under the Crowley Group banner, were to merge to form a new company intended to draw on the talents of both. The new entity, Ardent, has now reported on its progress in what has been a difficult year for the target market.

Prior to the merger, Svitzer Salvage worked principally as an emergency responder when typical salvage situations arose, whilst Titan’s primary market was the large project sector, and both had redoubtable track records in their respective fields. Now Ardent claims it has become a leading services company with an extensive network, offering innovative solutions to the shipping and offshore industries and backs it up by saying In its first year the company has won and executed more than 50 contracts, with a strong safety performance, and no loss-time incidents. Ardent CEO Peter Pietka explained:

“One year ago, we set off with our business plans, and today we are pleased that the merger has progressed in line with these plans, although the market has been weaker than expected. The integration of the two companies has gone well, and the merger targets have been achieved..

“The current markets in the shipping and offshore sectors have affected our margins [but] looking from a different perspective, the current oil and gas market provides us with a large opportunity to focus on offshore decommissioning. With the amount of knowledge and diversity between our partners and staff, and with a successful integration behind us, we look forward to the exciting years ahead.”

Photo: A mechanical arm installs a hose to draw off the fuel from the wreck of the Oleg Naydenov, after an Ardent submersible had cut away superstructure to allow access. The vessel was a Russian trawler which sank off the Canary Islands after a fire. Video of the salvage can be seen here.