Marine firm further expands fleet with bank support

15th August 2013

Ayrshire-based marine operator, Maritime Craft Services (Clyde) Ltd (MCS) has further expanded its fleet of vessels and workforce with new funding support from Clydesdale Bank.
 
The package, in excess of £4.5million, has helped MCS add two new fast crew supply vessels to its existing fleet of 19 crew transfer vessels, tugs and workboats. This latest round of funding, led by Craig Stewart, corporate banking director at Clydesdale Bank’s Business and Private Banking Centre in Glasgow, forms part of a £25million package which MCS now has in place with the Bank.
 
MCS, established in 1977, is based at Largs Yacht Haven and provides support vessels including Multicats and Shoalbusters to the offshore renewable, marine construction and dredging industries across the globe.
 
The company operates throughout Europe, the Middle East, India and Africa delivering services on a diverse range of projects including oil and gas installation, port and harbour construction, wreck removal and diving support.
 
The second of the two new 26-metre vessels, MCS Coromell, will be accepted by MCS’ Ayrshire base this week and will immediately go into service on the Greater Gabbard wind farm in the Thames Estuary. The other vessel, MCS Kaver, is already working on the Bard Offshore wind farm in German waters.
 
Each vessel is crewed by six people, meaning MCS will increase its total workforce by a dozen, bringing the total to more than 170 seafarers and 16 shore-based support staff.
 
Dirk Kuyt, managing director of MCS, said: “Demand for our vessels has never been stronger and this latest expansion will allow us to further establish ourselves as a leading operator in offshore renewable support.
 
“The offshore wind farm sector is booming across the UK and Europe as more developments spring up. That sector in particular is key to our long term plans and we already have extensive experience in it having being involved in projects including Belwind and Thornton Bank near Belgium and the Bard development in the German North Sea.
 
“Clydesdale Bank has been extremely supportive of us and without its funding and understanding of our business we would not be able to realise our ambitions for continued growth.”
 
This latest round of funding from Clydesdale Bank, follows the £20million package which it provided to MCS in 2011 to allow the purchase of four new vessels.
 
Matt Smith, Clydesdale Bank’s head of transport, said: “MCS has established itself over more than 30 years and is now highly regarded within the marine industry as a company which can be trusted to deliver quality support services in challenging environments.
 
“MCS has developed a comprehensive strategy for growth after identifying the clear opportunities presented by the burgeoning offshore wind farm sector. We have formed a strong relationship with Dirk and his team, and are once again pleased to be supporting their expansion plans.”
 
MCS’ new vessels were built by Dutch shipyard Damen at the company’s facilities in Vietnam and Singapore.