£7million contracts boost for Maritime Developments

Specialist back-deck equipment provider Maritime Developments has won contracts worth in the region of £7 million and broadened its product portfolio.

The company, which supports subsea industry operations worldwide, has secured the first order for its innovative portable overside vertical lay system (PVLS) from a leading installation contractor. Maritime Developments will deliver a bespoke vertical lay system tower along with a 4-track tensioner to support a major North Sea field development.

The business has also delivered a package of 10 winches, ranging from 5 t to 40 t specifications, for an international client. It is the third winch package provided to the client to support product handling at a number of locations around the world, with a fourth scheduled for delivery later this year. Each package also features a Maritime Developments 10 t overbender tensioner.

The order brings the value of electrically-driven items of deck machinery delivered by the business since it set up an electrical department in 2012 to more than £12 million.

Derek Smith, chief executive officer at Maritime Developments, said: “These orders exemplify the growth we have experienced within the business in recent years, and highlight our commitment to build long-term relationships with clients who recognise the rigour and professionalism we apply to everything we do."

Meanwhile, Maritime Developments has delivered a 500 t reel drive system (RDS) to a global energy services business in support of a project in the United States. It is the fourth RDS order executed by the business since the product's launch in 2013: three 400 t systems have already been supplied to global clients.

In addition, a Maritime Developments programme, focused upon designing and introducing its first 4-track 75 t tensioner, is nearing completion, while the company has already added its bespoke 4-track 50 t pipelay tensioner to its rental range.

The business has also entered a partnership agreement with high performance pipeline manufacturer Magma Global. The joint venture will design and manufacture a complete back-deck package for deployment and retrieval of Magma's unique m-pipe product.

Derek added: "Collectively, these developments represent an exciting new phase of growth for our business as we look to consolidate our position as a leading global player in our market.”

Maritime Developments is exhibiting at Subsea Expo at the Aberdeen Exhibition and Conference Centre (February 11-13, 2014) at stand 23. The company has an office in Aberdeen and its manufacturing facilities in Peterhead.

Adapted from a press release by David Bizley

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/21012015/gbp7million-contracts-boost-for-maritime-developments/