CMB to obtain CTV driver Windcat Workboats from SEACOR Marine


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Windcat CTV [Image: CMB]

Antwerp- headquartered Compagnie Maritime Belge (CMB) has actually gotten to a contract to obtain Lowestoft, U.K., headquartered Windcat Workboats Holdings Limited and also its staff transfer vessels from SEACORMarine Holdings Inc (NYSE: SMHI).

The bargain will certainly see CMB pay SEACOR Marine GBP 32.8 million in cash money (concerning US$ 44.6 million) and also think every one of the about GBP 20.4 million (concerning $27.8 million) of financial obligation impressive under Windcat’s existing rotating credit history center.

The purchase is anticipated to shut on or before January 12, 2021.

Windcat possesses and also runs, straight or via its joint endeavors, a fleet of 46 CTVs in the European overseas wind market. Windcat’s CTVs are made and also developed under the guidance of its monitoring, a group with greater than 18 years’ experience in the sector. The existing Windcat monitoring group will certainly remain to lead the business after conclusion of the purchase.

“I am pleased to announce this transaction as the capstone on our successful investment in Windcat and its team,” stated SEACOR Marinet Chief Executive OfficerJohn Gellert “I thank all the Windcat employees over the years for their exceptional work and dedication in building this business, including its founders Robbert van Rijk and Neil Clarkson and managing director Willem van der Wel, and I look forward to opportunities to work with them and the broader CMB team in the growing U.S. offshore wind market. This sale represents another milestone in our strategy of optimizing our regional footprint and reducing costs. The proceeds from this transaction will enhance our liquidity, further strengthen our position in a challenging environment, and allow us to continue developing other opportunities in our core markets, including with our hybrid battery powered platform supply vessels that we believe have significant potential.”

HYDROGEN FUELING

Alexander Saverys, CMB’s Chief Executive Officer, commented:

“The acquisition of Windcat fits into CMB’s strategy to diversify its business portfolio into the fast-growing offshore wind market and scale up the deployment of hydrogen ships and engines. CMB wants to grow Windcat’s business by building on its strong market-leading European platform whilst expanding into new European and non-European markets, diversifying into the owning and operation of Construction Service Operation Vessels and Service Operation Vessels (CSOVs and SOVs), and deploying hydrogen engines developed by CMB. TECH onboard the existing and newbuilding Windcat fleet. The first hydrogen powered CTV, the Hydrocat, is expected to be operational as early as June 2021. The construction of hydrogen refueling stations in dedicated Windcat ports will be investigated as well.”

“We have been working closely together with CMB over the past two years in the development of the Hydrocat, the world’s first Hydrogen driven CTV,” included Willem van der Wel, Managing Director ofWindcat “This important step in Windcat’s history will allow us to further develop this cooperation and make further steps in the development of the company. We are excited and look forward to work closer with CMB and are confident that together we will be able to further develop our strong position in the rapidly growing offshore wind industry and successfully execute our ambitious plans for the future. With the global challenges to reduce the carbon footprint, CMB and Windcat will continue the development of the fleet in order to make significant steps in providing clean fuel solutions to wind farm support vessels.We would like to thank SEACOR Marine for the support during the last nine years in which they have allowed the company to grow and maintain our leading position in the industry.”

Source of This New.