LATC Orders Damen PSVs for Nigerian Offshore Sector

Africa-focused proprietary investment firm L.A.T Cleveson (LATC) has signed an order with Damen Shipyards Group for the supply of two PSV 3300 Platform Supply Vessels and two FCS 5009 Fast Supplier Vessels. This transaction will bring next generation Damen PSVs to the offshore industry of Nigeria and the Gulf of Guinea for the first time.

The purchase is being made by LATC Marine Ltd, a subsidiary of L.A.T Cleveson, which has quickly established a positive reputation by providing state of the art marine vessel supply and offshore operation support services to leading Oil & Gas operators in Nigeria. The company’s aim is to set new standards in the West African offshore oil sector through acquiring modern and technologically advanced assets to serve international and local clients operating in the region. Vessels servicing the offshore industry in the Gulf of Guinea, and specifically Nigeria, typically are substantially older than those operating elsewhere in the world.

The purchase has been financed by Fidelity Bank Plc, a Nigerian bank, with a Transport & Shipping division which poised to support value-adding projects and new/efficiently run companies in the industry, in particular those with a strongly local content status, Damen noted.

Gbolahan Shaba, COO of LATC Marine commented, “Our aim is to redefine the concept of quality tonnage in the Gulf of Guinea and particularly in Nigeria. We plan to locally develop the necessary skill sets that will sustain our quality service to the most demanding clientele who run very complex operations in the most challenging environments. Ultimately, our strategy is to attain the capacity to build and maintain quality tonnage in Nigeria. We anticipate strong demand for repair and docking services in our region and we plan to create the facilities to meet that demand, professionally and safely”. 

Fidelity Bank’s Head of Transport & Shipping Division, Mike Nnaji, said, “This agreement and acquisition further marks our support toward professional development of offshore oil and gas marine support in Nigeria within the local content framework. The quality of the assets speaks for itself and the professional management is evident from the positive reaction of the oil and gas companies whose operation they already support and will be supporting. These vessels will show the value and effectiveness of assets that are built to U.K. North Sea standards which are efficient, environmentally-friendly and economic to operate. Fidelity Bank will continue to stimulate and support this development in line with the Nigerian Government’s local content initiative”. 

Advising on the agreement was RS Platou Africa (RSP), a global organisation with an in-depth knowledge of the industry and the region particularly. Dedicated to creating productive relationships between shipbuilders, operators & end-users, RSP has been a trusted advisory party to LATC and Damen. 

Advising on the agreement was RS Platou Africa (RSP), a subsidiary of Clarksons the world’s largest shipbrokers, a global organization with an in-depth knowledge of the industry and the region particularly. Dedicated to creating productive relationships between Shipbuilders, operators and end-users, RSP has been a trusted advisory party to LATC and Damen. Simon Pethick, Head of RSP’s Offshore Support Vessel & Drilling Units division, comments: “For some years now, we have seen the need for Innovation in Vessel Designs of Higher Quality & Efficiency and especially sustainable services throughout Africa’s west coast operations. Hence, new - and newly built – tonnage is needed. At the same time, both businesses and governments need long-term stability to grow. This can only happen if the region develops the right skills and focuses on long-term relationships between owners, operators, suppliers, governments and financial institutions for the development of long term sustainability. We are proud to be the ‘enabling advisor’ in this project, which does exactly that – taking steps to enable long-term commitment and growth.”

The Platform Supply Vessels and Fast Suppliers Vessels acquired by LATC Marine will have the full support of the Damen Service Hub in Port Harcourt, as well as the Damen Regional Office in Lagos. An additional Service Hub in Ghana is being planned.