Britain’s independent ship repairer, Burgess Marine has entered into a long-term agreement with Mainprize Offshore to initially build two 25m wind farm support vessels; MO2 an MO3.
Mainprize Offshore has also taken out options on a further two vessels. The deal is to be financed by Close Brothers.
Burgess Marine has developed a new concept called ‘Sure Build’, the first beneficiary of which will be Mainprize Offshore with the build of their vessel MO2.
Nicholas Warren, Burgess Marine’s Managing Director said: “For many years we’ve watched yards make small fortunes, then fail, or Operators make big investments which have then been seized or withheld by administrators. We wanted to offer a ‘piece of mind alternative’ to the industry.
Something different. Something sensible. This low risk low margin model has got to be the way to go in an industry so inherently full of risk. The team at Close Brothers have been second-to-none and so very easy to work with; between us we’ve a great product and we look forward to many years of success.”
Burgess Marine intends to launch ‘Sure Build’ to the market at the Seawork International 2014 exhibition in Southampton next month, with the signing of MO2 taking place on the company’s exhibition stand on June 10.
Bob Mainprize, Mainprize Offshore’s Owner and Managing Director said: “We obviously look forward to working closely with Nick and the team at Burgess throughout the build of MO2 – but perhaps more importantly we are looking forward to the development of very long and very fruitful mutually beneficial relationship.
Our product really is leading the field and business remains very brisk, we’re all pushing our hardest to have MO2 at Seawork next year and safely in a customer’s hands shortly thereafter.”
[mappress] June 9, 2014