Global Marine Systems Limited News

The diversified holding company HC2 Holdings announced that it is exploring strategic alternatives, including a potential sale, for its  Global Marine Group (GMG)  subsidiary.As part of this process, Global Marine Holdings, a leading provider of offshore engineering services to the telecommunications, renewables and oil & gas industries through its operating subsidiary Global Marine Systems Limited, has engaged Deutsche Bank Securities Inc. and ABN AMRO Bank as joint advisors to explore strategic alternatives for the business."Since our acquisition four years ago, the management team at Global Marine has repositioned and strengthened itself by securing and maintaining leadership positions in various key growth markets…

Subsea cable systems design, installation and maintenance firm Global Marine Systems Limited, has added the 6,200 ton cable deadweight CS Recorder to its fleet. Built in 2000, the vessel formerly known as the Maersk Recorder, has previously been chartered by Global Marine for numerous cable installation projects and has since successfully completed work in the oil and gas and renewables sectors. The newly named CS Recorder is intended to support the telecoms installation business growth over the next 5-10 years, with a number of critical projects scheduled during 2018, 2019 and 2020.

CWind, a provider of services to the offshore wind industry, has announced that it has invested in the company’s largest crew transfer vessel to date. Newly named as CWind Phantom, the 27.4m catamaran can hold 20,000 litres of fuel and has a 20 ton cargo capacity, making her suitable for longer stretches of work at wind farms located further from shore. This investment demonstrates the company’s ability to evolve with the changing market. CWind’s fleet now totals 18, with access to additional cable installation and maintenance vessels via CWind’s parent company, Global Marine Systems Limited.

Global Marine Systems Limited has acquired a majority interest in offshore renewables specialist CWind Limited. According to Global Marine, the purchase demonstrates its commitment to the offshore renewable sector and adds a diverse range of construction and O&M services to its current capabilities. CWind has to date supported the construction and operation of more than 26 wind farms in the North Sea, Irish Sea and the Baltic delivering a broad range of construction and O&M services. Substantial growth has led CWind to open a new office in Bremen, Germany in 2014.

Global Marine Systems Limited’s vessel Cable Innovator has recently left Damen Shiprepair Dunkerque (part of Damen Shiprepair & Conversion) after extensive work including the installation of a ballast water treatment system and a five-year survey. Global Marine Systems has been active on the cable-laying market since the industry’s earliest days and offers its clients 160 years of experience in the sector. Global Marine has worked with Damen previously when its vessel, Wave Sentinel, went through a scope of work at the company’s Brest yard.

The United Kingdom’s Maritime & Coastguard Agency (MCA) has recently approved the first two Ship Security Plans for UK flagged vessels. It expects these to be the first of many before the implementation date of the International Ship and Port Facility Security Code (ISPS) on 1st July 2004. The first verifications of ships security systems have been scheduled for early November. The plan approved was for the vessel CMA – CGM Normandie. This has been carried out as a joint exercise between the operators of the vessel, Zodiac Maritime Agencies Ltd, and their security advisers, Maritime and Underwater Security Consultants (MUSC). Zodiac were pleased with the progress and are intending to implement the plan on board the vessel as soon as possible…

Global Marine Systems Limited (Global Marine), a subsidiary of Global Crossing Inc, and a provider of subsea engineering solutions, has been sold to Bridgehouse Marine Ltd. Bridgehouse Marine is a specialised business that acquires and manages companies providing marine services to the telecommunications and energy industries. Andy Ruhan, Bridgehouse Capital's Managing Director and an investor in Bridgehouse Marine, will become the Chairman of Global Marine. Peter Ford will take over as acting CEO, and both appointments are made with immediate effect. Phil Metcalf, Global Marine's outgoing CEO, said: "The investment represents a great deal both for Global Marine and Global Crossing.

The Oceanic Princess, the first of two new cable laying vessels purchased for conversion by specialist UK shipping group James Fisher and Sons PLC in the second half of last year, has been delivered on long term charter to it-International Telecom, a subsidiary of Advanced Technology Systems, Greensboro, N.C. Delivery to it-International on May 4 follows the successful completion of sea trials for the 5,000-ton former RoRo vessel, converted to its new role at the Victor Lenac shipyard in Rijeka, Croatia. Conversion work on the second ship, the 3,000-ton Oceanic Pearl, is at an advanced stage. This vessel is expected to undergo sea trials later in the summer prior to going on charter to it-International.