Page 44: of Maritime Reporter Magazine (April 2020)

OFFSHORE SERVICE VESSELS

Photos: Island Offshore “We’ve done a lot over the years to re- right one. “As a privately-owned company profitable at the same time, so by offering duce fuel usage. Working on hull designs, we are fortunate to have investors with an a spread of vessel types we can reduce our ship designs, optimising machinery and understanding of, and appetite for risk,” market exposure and ensure we have the configuration of vessels has all provided he explains. “This gives us the ability to right capabilities for our clients when they environmental and financial efficien- identify and drive new opportunities with are needed.” cies. We’re now investing in and deploy- concepts that bring something new to the ing hybrid solutions using battery pack- market. It’s a key strength especially when Developing opportunities ages and digital technology to optimize a general market downturn has forced re- Island Offshore’s fleet is made up of three our operations. For most vessels we see structuring throughout the industry.” mooring and installation, three light well tangible savings not just on fuel use, but The early stages of Island Offshore’s intervention, three subsea support, three also through reducing machine hours and own restructuring saw the sale of two well stimulation and 12 platform supply therefore the cost of maintenance.” smaller Platform Supply Vessels, but vessels. It’s completed by four walk-to- 46-year-old Mr. Walaunet, who became work (W2W) vessels, an important part of

Diversity delivers sustainability Island Offshore’s MD in September last the business that has grown considerably

Island Victory joined the Island Offshore year after starting at the company in 2007, for Island Offshore in recent years.

fleet as a three-year company restructuring believes the 28-strong fleet is well placed “We saw that the market was satisfied plan enters its final phases and Mr Walau- for the future. with standard OSV and PSV tonnage and net is confident that the decision to invest “The diversity in our fleet is a strength we were looking for niches where we in such an extensive undertaking was the for us. We can’t rely on all segments being could add value to our vessels and find 44 Maritime Reporter & Engineering News • April 2020