It is now three months since the establishment of Admiral Offshore as an independent company, following the restructuring of the wider SVS Group of Companies at the end of June.

That reorganisation saw Admiral Offshore assume responsibility for the technical management and operation of our 5 x Damen 3307 FCS vessels based in West Africa.

As we take stock of the progress made during our first quarter, we are delighted to report that we are ahead of our schedule in all regards; the planning and delivery of the transition has gone extremely well and the new company has quickly built up to its full operational tempo.

Key Points:

• Vessel utilisation rates have exceeded targets (100% utilisation scheduled for next Quarter).
• Strong order book for 2019 and beyond.
• 100 % reliability – no Lost Time through mechanical faults or breakdown.
• 100% safety record – no Lost Time Incidents or reportable injuries.
• All existing charters transferred or novated.
• All supplier agreements transferred and restarted .
• Admiral Offshore Limited has gained Bureau Veritas Document of Compliance.
• Ongoing commitment to MLC conventions and Best Practice for crew welfare.
• Ongoing support for Health and Environmental initiatives.

This has been an extremely busy time for all staff as we have worked to reorganise our own roles and responsibilities; the process has required a vast amount of administrative effort to transfer the ownership, registration and documentation for whole fleet, whilst maintaining operational management during a busy period of deployments and scheduled maintenance. Additionally, our Technical Managers have continued to provide advice and specialist support to 3rd Party vessel operators, who have benefitted from our team’s unrivalled experience and knowledge of the regions’ unique challenges.