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Fugro completes sale of cable laying business to Global Marine Group

Fugro completes sale of cable laying business to Global Marine Group

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Fugro has completed a deal to sell its trenching and cable laying business to UK-based subsea company Global Marine Group (GMG).

Fugro now has an equity stake of around 24% in the combined business and will become the preferred provider of marine site characterisation and asset integrity services to GMG.

Based in Aberdeen, the new division of GMG will be called Global Offshore, with 23 Fugro staff, OCV Fugro Symphony, two trenchers and two ROVs moving as part of the deal.

Yesterday, Norway’s Siem Offshore revealed that talks to sell its cable laying business, Siem Offshore Contractors, to Subsea 7 had broken down.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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