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Singapore-based offshore wind vessel pure-play Cyan Renewables has acquired a 75% stake in offshore help vessel specialist Sentinel Marine, proprietor of the youngest fleet of emergency response and rescue vessels (ERRVs) within the UK.
Sentinel Marine has a fleet of 13 high-specification offshore help vessels which permits them to answer environmental emergencies, reminiscent of oil spills and different incidents. The corporate’s fleet can be designed to help varied offshore actions reminiscent of offshore wind, fisheries management, and maritime surveillance.
By way of this acquisition, Sentinel’s multi-role ERRVs will add to Cyan Renewables’ vessel portfolio, serving to the Singapore agency broaden into the UK offshore wind market.
“[Sentinel Marine] is properly positioned to pivot and seize a slice of the fast-growing offshore wind market within the UK. This acquisition [is] additionally in keeping with Cyan Renewables’ purpose to double our fleet via the buying and newbuilding of vessels within the coming years,” mentioned Lee Keng Lin, founding CEO of Cyan Renewables.
“With Sentinel Marine’s capabilities in marine safety, Cyan Renewables shall be properly on its option to reaching its ESG targets with an influence not simply in Asia, but in addition within the UK and Europe areas,” added James Chern, chairman of Cyan Renewables.
Cyan Renewables, a portfolio firm of Seraya Companions, entered the European offshore wind market final yr with the acquisition of the service operations vessel Groenewind from Belgium’s DEME Group.
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