One 12 months after the salvage corporations Titan and Svitzer joined forces underneath the brand new model Ardent, the mixed firm can report that, all issues thought of, the primary 12 months in enterprise went fairly nicely.

“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” mentioned Ardent CEO Peter Pietka, “although the market has been weaker than expected”.

In May 2015, Svitzer Salvage, part of the Maersk Group, merged with Titan Salvage, a part of the Crowley Group, to type the brand new firm Ardent, now equally owned by Svitzer and Crowley.

Bringing to the desk, Svitzer Salvage had huge data and expertise in emergency preparedness and response, whereas Titan specialised in massive initiatives, comparable to the finished salvage of the Costa Concordia, considered one of the complicated salvage jobs in historical past. Together, the mixed firm now provides a full vary of companies for worldwide salvage trade, from emergency administration companies and undertaking associated work, to underwater companies and even offshore decommissioning.

Ardent says in its first 12 months in enterprise, the corporate gained and executed greater than 50 contracts all whereas reaching with zero loss-time incidents. Notable initiatives included gasoline removing from the Oleg Naydenov, which caught hearth and sank to a depth of about 2,700 meters close to the Canary Islands in April 2015. In September, the corporate wrapped up the salvage of the MV Smart in South Africa, a undertaking left over from the Titan Salvage days.

But not even the worldwide salvage trade is protected from the general decelerate in international delivery.

“The integration of the two companies has gone well, and the merger targets have been achieved,” mentioned Pietka. “The current markets in the shipping and offshore sectors have affected our margins.”

Still, Ardent believes that it stays in a great place with a variety of companies and experience.

“Looking from a different perspective, the current oil and gas market provides us with a large opportunity to focus on offshore decommissioning,” mentioned Pietka.

“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,” he mentioned.