Maritime Developments has launched a new equipment hire division.
The company, which has operations in Peterhead and Aberdeen, is on track to increase turnover to £12 million for its year-end in March 2014, a projected rise of 110% on its 2013 figure of £5.7 million.
Mike Gaskin, commercial director at Maritime Developments, said the business was responding to heightened demand for its products and services, not only in the North Sea but also in West Africa, North America and Asia.
He said: “We’ve continued to grow the business organically and the launch of an equipment hire business stream was a natural step.
“We design and manufacture the full range of back-deck equipment, so we have the capability in-house. We also have the ability to install the equipment and maintain it, if required.”
Maritime Developments has completed a 400-tonne reel drive system to join its rental fleet. The hire fleet will include an 8.6m diameter installation reel, a 250-tonne lift beam, a 50-tonne radius chute, powerpacks and a small crane.
Additionally, a 50-tonne 4-track is tensioner targeted for the market in Q2-2014. Maritime Developments can also provide personnel as well as equipment for projects.
Maritime Developments has also launched an innovative portable vertical lay system (VLS) for the deployment and retrieval of subsea umbilicals, risers and flowlines (SURF). In addition to securing key projects in the North Sea for international contractors, Maritime Developments has expanded in the past year into markets such as the Gulf of Mexico, Asia/Australia and West Africa.
Maritime Developments has a team of 44 across its Aberdeen and Peterhead operations.
As well as its innovative VLS, Maritime Developments delivers tensioners, reel drive systems, compensators, overboarding chutes, level winders, manifold systems and hydraulic power units (HPUs), control systems and electrical power units, reel under rollers, small turntables, spoolers, radius controllers, product support and service, maintenance and repair, system adaptation and upgrades.
The company will be exhibiting at stand 29 at the Subsea Expo at the Aberdeen Exhibition and Conference Centre which runs from February 5-7.