Geoquip Marine Expands Fleet With Sustainable Vessel Conversion
ST. GALLEN, Switzerland–(BUSINESS WIRE)–Geoquip Marine (Geoquip), a global leader in offshore geotechnical solutions and a Njord Partners portfolio company, has added a seventh vessel to their fleet. The Geoquip Silvretta, originally built as a platform supply vessel by Green Yard Kleven (Green Yard), is being converted in Norway into a state-of-the-art geotechnical services platform for the offshore energy sector.
The conversion, scheduled for completion in spring 2025, will include the installation of Geoquip’s largest drilling rig, the GMTR150. The efficient and reliable cutting-edge rig will ensure a low carbon footprint, lower fuel consumption and will enable the vessel to conduct high-quality geotechnical site investigations in a range of sea states. Once the upgrade is complete, the Geoquip Silvretta will mobilise for a project in northern Europe, ready to tackle any challenging metocean conditions.
The Geoquip fleet’s newest addition, was built as a DP2 vessel and no changes are planned to the propulsion, main components or machinery. However, Green Yard will work with the vessel’s original designer, Marin Teknikk AS, to customise the interior for Geoquip’s global projects. These upgrades will include installing a moonpool, moving and adding cranes, extending the shelter deck, increasing office and meeting space, and building a new accommodation block.
Opportunities to lower the vessel’s energy consumption will be realised through new LED lighting, and heating, ventilation and air conditioning (HVAC) systems that incorporate heat recovery. During the conversion, as many components as possible will be reused and recertified to minimise waste; steel removed from the decks during the moonpool installation will be recycled locally in Norway, while new components will be made of high-scrap-content European steel.
Rune Olav Pedersen, Geoquip’s incoming CEO, commented: “Expanding our fleet with this new vessel, complete with our flagship GMTR150 drilling rig, gives Geoquip even more capacity to deliver high-quality site investigations in varied weather conditions. We’re also pleased to have awarded the conversion project to Green Yard, a full-service shipyard with sustainability high on their agenda. The Geoquip team can look forward to working on a vessel that’s been purpose-built for offshore site investigations and which will include a new accommodation block, ample office and meeting facilities, and an offshore laboratory to gather fast and accurate data for clients.”
Arvid Trolle, Board Director at Geoquip Marine and Co-Founder of Njord Partners, added: “The addition of Geoquip Silvretta to the company’s existing fleet reflects the significant opportunities we are seeing in the buoyant offshore market. We are committed to investing for the long-term, with sustainable vessels at the core of Geoquip’s offering as the company continues to strengthen its position in the sector.”
About Geoquip Marine
Geoquip Marine specialises in offshore geotechnical site investigations and engineering solutions, delivering reliable data to support various markets including offshore renewables, civil infrastructure, oil and gas, and scientific research. They operate a fleet of advanced vessels and drilling rigs, equipped to handle challenging marine environments. Geoquip Marine emphasises safety, sustainability, and timely data delivery, ensuring successful project execution worldwide. Their comprehensive services include data interpretation, laboratory testing, and bespoke investigations from nearshore to ultra-deep waters.
For more information, visit https://www.geoquip-marine.com
About Njord Partners
Njord Partners is a special situations investment manager and provider of long-term flexible capital solutions. Established in 2013, Njord Partners manages capital in excess of €1 billion. Investing in European middle-market companies facing complex situations, its mission is to deliver superior risk-weighted returns to investors while preserving capital. As a capital partner, Njord Partners offers flexible debt and equity solutions, actively facilitating strategic and operational enhancements within its portfolio companies to drive value.
To find out more visit: https://njordpartners.com/
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