Barclays Backs CLS Offshore’s Growth Strategy

MarineLink.com
Tuesday, November 05, 2013
Photo: CLS Offshore Ltd.

Barclays has supported CLS Offshore Limited with a £2 million loan through the Funding for Lending Scheme to purchase their unique quayside fabrication facilities and business premises at Gorleston, Great Yarmouth. In addition to the aforementioned loan, Barclays has also provided various trade finance facilities to support the longer term growth strategies and plans of CLS.

CLS Offshore is an awarding winning total solution provider to the oil, gas, marine and renewable industries. The complete onshore and offshore services include, but are not limited to, surveys, design, fabrication, testing, installation, commissioning, maintenance, repair, asset integrity, modification, decommissioning, recruitment services and complete project management.

Over the past eighteen months, to support long term strategies, CLS Offshore has gone through a period of transition which has included changes at board level, simplifying processes and introducing new divisions such as a Recruitment Service and a dedicated Electrical and Instrumentation team.

Scott McMillan, Managing Director of CLS Offshore, said, “Being able to own our facilities underlines our commitment to the company’s growth, and Barclays played a key role in this. During the current year we have been able to reinvest over fifty percent of company profits back into the business, to support our long term growth aims and objectives.”

Steve Webb, Relationship Director at Barclays said, “This is a great example of a well managed company thriving in the current climate and investing for future growth. The loan we have supported under the Funding for Lending Scheme also provided the company with a 2% lump sum cash back that enabled the company to plan with confidence going forward. We would be pleased to talk to any businesses who are thinking of investing in their business.”

Barclays said it has responsibly increased lending by £7.49 billion since the Funding for Lending Scheme began, supporting businesses and households with access to finance to grow their business, buy a new home or improve their quality of life.

barclayscorporate.com

clsoffshore.co.uk
 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Seadrill: Rig Rates Have Not Bottomed

The market for oil and gas drilling rigs continues to deteriorate as oil companies cut back on investments, Seadrill Chief Financial Officer Rune Magnus Lundetrae

‘Blue Queen’ on First Mission

The platform supply vessel 'Blue Queen', an ULSTEIN PX121 design, was named at Ulstein Verft on Friday 27 February. The ship will be working in the spot market.

Fiji Maritime Academy Bullish on Prospects

The Fiji Maritime Academy (FMA) is on the right track to become one of the finest maritime training institutions in the region. It has also achieved an important

Finance

Ten Migrants Die in Mediterranean, a Thousand Rescued

At least 10 North African migrants died when their rubber boat overturned in the southern Mediterranean while almost a thousand more from a total of seven vessels

Access to Brazil's Itajai Port to Open as Truck Protest Ends

Protesters have agreed to open access to Brazil's main poultry exporting port of Itajai in Santa Catarina state, the port said on Wednesday, ending a lingering

Seadrill: Rig Rates Have Not Bottomed

The market for oil and gas drilling rigs continues to deteriorate as oil companies cut back on investments, Seadrill Chief Financial Officer Rune Magnus Lundetrae

Energy

BG Group's Australian Project Helping to Double LNG Supplies

A smooth start to operations at BG Group's Australian project in Queensland is expected to help the British company to roughly double its liquefied natural gas (LNG) supplies in 2015/16,

Seadrill: Rig Rates Have Not Bottomed

The market for oil and gas drilling rigs continues to deteriorate as oil companies cut back on investments, Seadrill Chief Financial Officer Rune Magnus Lundetrae

Ghana-Ivory Coast Maritime Dispute Mar Tullow

A dispute over maritime boundaries between Ghana and Ivory Coast is damaging Tullow Oil, which risks postponement of its TEN project in the waters off Ghana's coastline.

News

Fire Aboard US Navy Ship

A fire broke out aboard a U.S. Navy amphibious dock landing ship USS Gunston Hall (LSD 44) at approximately 2 p.m. yesterday while the ship was undergoing maintenance

Wheelabrator Opens Ontario Location

Surface preparation company Wheelabrator Group (Canada) Ltd. celebrated its grand opening with a ribbon cutting ceremony and luncheon after moving to a new location and office complex in Burlington,

Ten Migrants Die in Mediterranean, a Thousand Rescued

At least 10 North African migrants died when their rubber boat overturned in the southern Mediterranean while almost a thousand more from a total of seven vessels

Marine Equipment

Pronomar, ELA Cooperation Continues

Drying container exhibited again on EWEA in Copenhagen   In October 2014 Pronomar shared news about its cooperation with German based company ELA Container Offshore

Wheelabrator Opens Ontario Location

Surface preparation company Wheelabrator Group (Canada) Ltd. celebrated its grand opening with a ribbon cutting ceremony and luncheon after moving to a new location and office complex in Burlington,

Caterpillar to Deliver Highest Horsepower Tier 4 Solution

Edison Chouest Offshore has selected Caterpillar Marine's Cat Tier 4 Final C280-16 generator sets for two new vessels, Caterpillar announced today. The generators

Offshore Energy

Seadrill: Rig Rates Have Not Bottomed

The market for oil and gas drilling rigs continues to deteriorate as oil companies cut back on investments, Seadrill Chief Financial Officer Rune Magnus Lundetrae

‘Blue Queen’ on First Mission

The platform supply vessel 'Blue Queen', an ULSTEIN PX121 design, was named at Ulstein Verft on Friday 27 February. The ship will be working in the spot market.

Gulf of Mexico Oil Production on the Rise

Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016.

 
 
Maritime Security Maritime Standards Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.8468 sec (1 req/sec)