GEOSHIPS Secures Escort Vessel Management Contract

SeaHold GEOSHIPS Ltd’s subsidiary company Brooking Shipping Limited (BSL), has been awarded a contract for an escort vessel which is anticipated to generate £1.9million each year.

This is the first contract BSL has been awarded since being acquired by the shipping and marine contractor, GEOSHIPS.

BSL, the marine division of GEOSHIPS, has been appointed the escort vessel contract by Mercator International Limited, for the technical and crew management of the new build 36m vessel, Express Opportune.
It is a fast support intervention vessel capable of 25 knots and specifically prepared for the Anti-Piracy role.

BSL took delivery of the vessel in Singapore and the contract is initially for six months with automatic extensions. The work will primarily be in support of commercial ships transiting the Arabian Gulf and East Africa areas.

Escort vessels act as a visible threat deterrent and enforce an exclusion zone around a commercial vessel. They also provide specialist security teams trained in the use of fast intercept craft and counter boarding operations.

For the initial six months, the value of the contract to the company is worth over £1million and a Letter of Intent has been received for a second escort vessel to operate in similar geographical regions.

GEOSHIPS, group chief financial officer, Neil Donald, said: "I am delighted that Brooklyn Shipping Ltd has secured its first contract under the GEOSHIPS umbrella and is diversifying its skills out with the oil and gas industry. Entering into this contract reinforces the firm’s continued commitment to optimising safety for crews. This type of vessel allows operators to take advantage of business in new areas that were previously considered too high risk to enter.”

BSL, managing director, Rennie Cameron, said: “This is an exciting contract for us and vessel protection is an area of increasing concern. The escort vessel offers 24/7 protection to commercial vessels passing through high risk areas. It can establish the intent of crafts in the vicinity of the commercial vessel and intercept if needed. This safety cordon around the client vessel helps to protect it from potential criminal activity.”

BSL anticipates having two of these vessels on evergreen SHIPMANs (BIMCO Contract), giving an annual turn-over of approximately £3.8million. Plans are already in place to consider expanding with BSL as ship managers, to four or five vessels in 2012, which would lead to a turnover of around £7.5 to £9.5million per annum.