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Breakwater and Hayfin grow AHTS fleet to 13 vessels with two acquisitions

Wednesday, 28 March 2018 | 00:00

Breakwater Capital (“Breakwater”) and Hayfin Capital Management (“Hayfin”) yesterday announced the growth of their Anchor Handling Tug Supply (AHTS) fleet to 13 ships through the acquisition of two sophisticated UT 786 CD type vessels from E.R. Offshore, having last year provided a long-term investment to recapitalise 11 vessels in partnership with the Hartmann Group. The financial terms of the transaction are undisclosed.

The ships, E.R. Luisa and E.R. Vittoria, will be renamed GH Atlantis and GH Endurance respectively. With a bollard pull of 200 metric tons, the 2010-built vessels increase the maximum towing capacity of the fleet while still operating in the same working environment. Consistent with the ship management arrangements agreed at the time of the original recapitalisation in October 2017, Breakwater and Hayfin will hand these two vessels to Hartmann Offshore to oversee their technical-nautical management and to United Offshore Support (“UOS”) to run the commercial side.

“These vessels fit into the total fleet perfectly,” says Bernhard Wichers, Managing Director of Hartmann Offshore. “They are young, technically at the leading edge and they match our strategy of providing highest quality and safety standards.”

“The investment from Breakwater Capital and Hayfin Capital Management secured the future of the fleet for the long-term,” continues Andre Groeneveld, Managing Director of UOS. “With the trust put in us by the owners, we can now offer our customers a large, versatile fleet and at the same time strengthen our position in the market. It is more than encouraging that only a few months after the beginning of the partnership – and in a still challenging market environment – the fleet is set on a growth track.”

Breakwater and Hayfin, a leading European credit platform, have an exclusive partnership to work together on debt transactions in the maritime sector.
Source: Hartmann Group

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