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 August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Crowley Receives Heavy-Lift Deck Barge in Singapore

Crowley Maritime Corporation’s solutions group announced today that it has received the first two of potentially four, new heavy-lift, ballastable deck barges (HDBs)

Signet Transports Second LLOG Rig to GofM

On September 14, five Signet Maritime ASD/Z-Drive tugboats, the SIGNET ENTERPRISE, SIGNET RELIANCE, SIGNET MAGIC, SIGNET WEATHERLY, and SIGNET VOLUNTEER successfully

OC Selects Siemens Blue Drive PLUSC Propulsion Solution

Siemens Blue Drive PLUSC Low Voltage Propulsion Solution providing reliability, Safety, increased fuel efficiency, reduced greenhouse gas emissions (Methane, NOX

Finance

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop

Aker Evaluating Future of US Shipyard, ASC

Norway's Aker ASA may decide to merge or otherwise restructure two listed units that have seen strong benefits from the U.S. shale oil energy boom, Aker's Converto

300th Tug Brokered by Marcon Int'l

Marcon International, Inc. of Coupeville, Washington reported the sale of the U.S. flag, twin screw tug “Pacific Patriot” (ex-Pacific King) from Kirby Marine Offshore to U.

Energy

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop

DNV GL Opens New Office in Malaysia

To meet the growing demand in the region, DNV GL opened a new office in Malaysia. The official opening of the office coincided with the company’s celebration of

OC Selects Siemens Blue Drive PLUSC Propulsion Solution

Siemens Blue Drive PLUSC Low Voltage Propulsion Solution providing reliability, Safety, increased fuel efficiency, reduced greenhouse gas emissions (Methane, NOX

News

Aker Evaluating Future of US Shipyard, ASC

Norway's Aker ASA may decide to merge or otherwise restructure two listed units that have seen strong benefits from the U.S. shale oil energy boom, Aker's Converto

Almarin Buoys for GNL del Plata in Uruguay

Almarin has supplied fourteen buoys to OAS constructor for the maritime beaconing of the works of GNL del Plata project in Uruguay. Almarin Spanish AtoN supplier

Mercury Marine produces 75,000th Verado L6 Outboard

Milestone comes less than 10 years after launch of platform.   Mercury Marine, the world leader in commercial and recreational marine propulsion and technology,

Marine Equipment

Almarin Buoys for GNL del Plata in Uruguay

Almarin has supplied fourteen buoys to OAS constructor for the maritime beaconing of the works of GNL del Plata project in Uruguay. Almarin Spanish AtoN supplier

Mercury Marine produces 75,000th Verado L6 Outboard

Milestone comes less than 10 years after launch of platform.   Mercury Marine, the world leader in commercial and recreational marine propulsion and technology,

OC Selects Siemens Blue Drive PLUSC Propulsion Solution

Siemens Blue Drive PLUSC Low Voltage Propulsion Solution providing reliability, Safety, increased fuel efficiency, reduced greenhouse gas emissions (Methane, NOX

Offshore Energy

Signet Transports Second LLOG Rig to GofM

On September 14, five Signet Maritime ASD/Z-Drive tugboats, the SIGNET ENTERPRISE, SIGNET RELIANCE, SIGNET MAGIC, SIGNET WEATHERLY, and SIGNET VOLUNTEER successfully

Ocean Installer Awarded New Contract

Ocean Installer has been awarded a contract for SURF support work in Brazil for Saipem. The contract which will see the Normand Clipper in Brazil for 8 months is valued at circa USD 50 million,

Waterjets Manufacturing Comes Stateside

Thrustmaster’s deal with DOEN brings waterjet manufacturing to the United States.   Marine propulsion and thruster manufacturer Thrustmaster of Texas, Inc. announced

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar
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: 0.2915 sec (3 req/sec)