Cyprus-based shipowner and manager Marlow Navigation is beefing up its offshore vessel operations with a deal to buy Germany's Opielok Offshore Carriers.
Talks over a deal started late last year, according to Marlow, which is better known as a boxship and bulker operator.
Opielok is listed with four platform supply vessels (PSVs) built between 2008 and 2012, a fleet which VesselsValue assesses as worth $19m.
Marlow has 24 ships worth $359m, excluding two anchor-handling tug supply (AHTS) units, according to VesselsValue.
The AHTS vessels have already been placed under Opielok management.
No financial terms for the acquisition have been released.
The key focus and main driver behind the merger is the retention of "well-tested and proven qualities", Marlow said.
The Cypriot company said it also wants to streamline processes and benefit from economies of scale.
Opielok has been active in the offshore sector for more than 20 years.
Team joining Marlow in Hamburg
The complete team is joining Marlow in its Hamburg office under the PSV owner's new name, Marlow Offshore Carriers.
The company will continue to offer technical and crew management in the offshore and renewables market, strengthening Marlow’s footprint in this sector.
Marlow has been contacted for further information about its plans.
The buyer said Opielok's know-how combined with Marlow's worldwide network will lead to a "lean offshore management company embedded in a solid global framework".
Opielok, which was also based in Hamburg, brought its 3,300-dwt PSV OOC Cougar (built 2008) out of lay-up last year.
