Dubai OSV owner Topaz Energy and Marine has been merged into a new company, P&O Maritime Logistics (POML), following its takeover by DP World in July.
Topaz CEO Rene Kofod-Olsen has been appointed CEO of the new combined group, which also includes P&O Maritime.
"Through the synergies created by the merger of the two companies, under the DP World umbrella, the POML business is well positioned to grow and build further scale and value for customers and shareholders alike," DP World said.
POML is focusing on offshore, port services and logistics with a fleet of 400 vessels, including tugs.
Evolving industry
Kofod-Olsen said: “Our industry is constantly changing and evolving.
"P&O Maritime Logistics is strategically positioned to provide a wide portfolio of services to our customers, be it within one segment such as offshore or port services, or an integrated logistics offering with a combination of services."
Kofod-Olsen has appointed an executive committee consisting of COO Martin Helweg, CCO Robert Desai, CFO Prasad Narayan and Latifa Mohammad, chief human resources officer.
DP World paid $1.079bn for Topaz, buying it from Oman's Renaissance Services and Standard Chartered Private Equity/Affirma Capital.
Topaz has 117 OSVs, predominantly in the Caspian Sea, Middle East and North Africa, and West Africa regions.
The OSV company is one of a handful that has not restructured financially during the offshore slump.
The fleet includes anchor-handlers, heavy deck-cargo units, multipurpose support vessels, platform supply vessels and emergency response ships.
In the last year, terminal giant DP has also acquired Unifeeders and P&O Ferries.
