Cypriot shipowner EDT Shipmanagement is targeting further growth in a strong offshore market following the post-pandemic rebound.
The family-owned Limassol player told TradeWinds: “The company’s commitment to fleet expansion remains steadfast.”
EDT pointed to recent deals demonstrating its growth strategy.
It has recently taken delivery of the 91-loa multipurpose platform supply vessel Peridot (built 2005), renaming it EDT Prometheus.
The ship was bought from the Israeli government.
EDT is also set to get its hands on a newbuilding this month —the 85-bp anchor-handling tug EDT Aether — from Damen Shipyards in the Netherlands.
The deals “underscore EDT’s sustained growth trajectory across offshore segments, from subsea to port and terminal operations”, the shipowner said.
“This expansion aligns seamlessly with the post-Covid resurgence observed in the subsea and renewable energy sectors and offshore terminal operations, areas in which EDT specialises.
“Market dynamics have notably improved, attributed chiefly to the post-Covid economic landscape and the imperative for extensive maintenance and upgrades of offshore and subsea facilities, coupled with a surge in exploration and production activity.
“EDT’s strategic vision and expertise position it optimally to capitalise on these favourable market conditions.”
Eastern Mediterranean strength
Other acquisitions have included the 103-bp deepsea anchor-handling tug EDT Aeolus (built 2011) from Fairplay Towage in Germany, alongside other towage units for terminal and port operations.
EDT, formed in 1980, said it now has a fleet numbering 24 multipurpose supply ships, PSVs, anchor-handling tug supply units, tugs, cargo barges, dredgers and crew boats.
“EDT has positioned itself as a prominent figure in the Eastern Mediterranean, with additional bases in Greece, Israel and Egypt,” it added.
The group initially focused on cargo, towage and salvage services.
But a “robust diversification strategy” saw it evolve into oil and gas, with “significant” expansion following, it told TradeWinds.
The company also has ship agency, logistics and ship repair interests, as well as an aviation division.
The EDT Prometheus was built as the Bourbon Peridot by Bourbon Offshore and was later converted to a remotely operated vehicle support ship for multipurpose subsea services.
The Ulstein Verft-constructed ship was sold as Peridot to Israel in 2019, and relocated to Haifa, the shipyard’s website says.
