The first half of 2020 has witnessed tough trading conditions in the offshore sector around the world; initially due to the low oil price and thereafter due to the COVID-19 pandemic. Operating costs have increased significantly due to the problems created around supply chain, operations and the decrease ...
Admiral Offshore draws on 10 years’ worth of marine pedigree and experience in the offshore sector, working in support of the offshore Oil and Gas exploration, production and service support sectors.
Our goal is the provision of services that are expertly managed and delivered by experienced, qualified and expert professionals. Our range of marine-based services is underpinned by a mind-set of continuous improvement.
We have a variety of charter and operating arrangements in place and have the flexibility to deliver a range of solutions in order to meet client needs. We provide support to a variety of market sectors.
Trading conditions in the offshore industry remain volatile and subject to changes in external factors such as the oil price.
However, the Admiral Group is maintaining its revenue profile and continues to meet its targets allowing the company to continue to invest in its core business and to implement its ongoing investment plans in West Africa.
Our efficient and streamlined management and control structures allow for quick and flexible decision making and we remain pro-active and able to respond to market demand.
With significant investment in the region planned for 2020 including a service hub in Port Harcourt for Damen FSIVs, these are exciting times for the business.
We continue to invest in best in class services and have recently imported a purpose build Damen workshop container along with containerised spares into Nigeria to support this next exciting evolution in our growth.
Since it’s inception in July 2018 Admiral Offshore has traded with the experience and outstanding legacy from it’s antecedent company, Specialised Vessel Services Ltd.
From January 2020 all companies in the operating group will be known as ‘Admiral’ to better reflect the separate and integrated nature of the Admiral Group of companies from SVS.
Therefore SVS Offshore Ltd has changed its name to Admiral Offshore Ltd. It remains ‘business as usual’ but the name change better aligns all companies in the operating group.
Admiral Operations continues to beat its financial targets with a solid track record of sustainable operating and bottom line profits and fleet utilisation levels at over 95%.
The business remains completely ungeared which suits current economic conditions and market volatility.
It continues to reinvest in developing a reliable customer supply chain in order to maximise sustainable revenue streams and minimise business risk.
The executive team continue to focus on their strategy of maintaining a lean and efficient operational business model while maintaining a stable platform to support further growth as market opportunities arise.
eMail: info@admiraloffshore.com
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