SHARES in SeaEnergy have risen 8 per cent after the company said it had won its first ship management contract, which covers a vessel operating in the North Sea.
Aberdeen-based SeaEnergy has been appointed to manage a ship that will provide support for exploration and production companies working in the area.
The company will manage the MV Surf Ranger, on behalf of Otto Marine of Singapore.
The value of the contract has not been disclosed.
However, Otto appears to have provided an important vote of confidence in SeaEnergy's fledgling ship management business.
SeaEnergy said it is in talks with Otto about managing other vessels owned by the firm, which may be operating in the North Sea and Europe in the future.
Known as Ramco Energy when it focused on oil and gas, SeaEnergy moved into ship management last year under plans to develop a range of businesses that would support firms operating assets like offshore wind farms.
SeaEnergy cut losses from £2.4m in 2012 to £800,000 in 2013, despite ship management start-up losses of £222,000.
The company has predicted it will move into profit this year.
SeaEnergy sold off a subsidiary that developed projects for wind farms off Scotland to Repsol for £39m in 2011.
The MV Surf Ranger can support remote-operated vessels used for subsea work. It has a crew of 20.
Shares in Aim-listed SeaEnergy closed up 2.75p at 37p last night.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article