Energy services group SeaEnergy has undertaken the necessary activities to exit the ship management business by the end of the year.
“SeaEnergy has now handed over operational responsibility for the ships previously under management and expects to have completed its exit from ship management by the end of the year,” the company said in a release.
The types of ships previously managed by the company included traditional cargo vessels and bulk carriers, DP vessels operating walk to work gangways, DP diving support, survey vessels, cable layers, seismic support vessels, supply vessels and fast launch/fishery protection vessels.
SeaEnergy Ship Management Limited was launched in June 2013 to offer ship management services across the offshore energy sector with a particular specialism in “walk to work”.
SeaEnergy also said that it has agreed a working-capital funding package under which it can draw up to GBP 1.0 m (USD 1.5 m) over the next 12 months.
“During 2015, sustained low oil prices have very severely impacted levels of business in the core R2S offering as well as in other parts of the group.
“Revenue from continuing business for the year ending 31 December 2015 is now expected to be between Â£2.6 and Â£2.8 million, resulting in a significant loss,” the company added.
SeaEnergy PLC is an offshore energy services business, based in Aberdeen, Scotland and it has three active divisions comprise R2S, Consulting and Marine.
World Maritime News Staff; Image: SeaEnergy