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Home Fossil Energy Hartmann-managed AHTS fleet grows to 13

Hartmann-managed AHTS fleet grows to 13

March 29, 2018

Breakwater Capital and Hayfin Capital Management have bought two anchor handling tug supply (AHTS) vessels from E.R. Offshore.

This acquisition follows a recapitalization of Hartmann Group’s 11-strong fleet of AHTS vessels through a partnership with Breakwater and Hayfin back in October last year.

The full ship management of the fleet remained with the former owners, Hartmann Group. Hartmann Offshore continued the technical-nautical operations and another Hartmann company, United Offshore Support (UOS), is responsible for the commercial side.

Breakwater and Hayfin said on Tuesday that their AHTS fleet increased to 13 ships through the acquisition of two UT 786 CD type vessels from E.R. Offshore. The financial terms of the transaction were left undisclosed.

The ships, E.R. Luisa and E.R. Vittoria, will be renamed GH Atlantis and GH Endurance respectively. Consistent with the ship management arrangements agreed during the recapitalization in 2017, Breakwater and Hayfin will hand these two vessels to Hartmann Offshore to oversee their technical-nautical management and to (UOS) to run the commercial side.

Bernhard Wichers, managing director of Hartmann Offshore, said: “These vessels fit into the total fleet perfectly. They are young, technically at the leading edge and they match our strategy of providing highest quality and safety standards.”

Andre Groeneveld, managing director of UOS, added: “The investment from Breakwater Capital and Hayfin Capital Management secured the future of the fleet for the long-term. With the trust put in us by the owners, we can now offer our customers a large, versatile fleet and at the same time strengthen our position in the market. It is more than encouraging that only a few months after the beginning of the partnership – and in a still challenging market environment – the fleet is set on a growth track.”

As for the vessels, both were built by Sekwang Heavy Industries, South Korea, in 2010. Both vessels are 86 meters long, 19.9 wide, and have a deadweight of 3,600 tdw.