Global Marine Systems acquires Maersk cable layer

Global Marine Systems acquires Maersk cable layer

Global Marine Systems has snapped up 2000-built subsea construction, installation and trenching vessel Maersk Recorder from Maersk Supply Service.

The vessel, which has been renamed CS Recorder, had previously been chartered by Global Marine for numerous cable installation projects. The company intends to use the vessel to support telecoms installation business growth over the next five to 10 years.

Bruce Neilson-Watts, managing director for telecoms at Global Marine, commented: “The addition of this latest vessel to our fleet demonstrates our continuing commitment to ensuring the appropriate assets are available to meet our customers’ needs across the globe, and to our core business of telecoms cable installation, even in a market where the current trend is for assets to be relinquished, rather than added.”

Global Marine did not reveal the price of the deal, although broker estimates put the vessel’s value in the low 20 millions range.

The acquisition brings Global Marine’s fleet up to a total of 26 vessels. 

 

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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