Tuesday, April 21, 2015

Two Salvage Giants Combine to Form Wreck Removal and Marine Towage Operation

Partnership of Pair Set To Dominate the Industry
Shipping News Feature

WORLDWIDE – Two of the giants of the salvage industry are to join forces next month after the US group Crowley Maritime Corporation and Danish headquartered Svitzer agreed to merge their respective subsidiaries, Titan Salvage and Svitzer Salvage, as one company to be called ‘Ardent’. The two companies have differing skills and areas of expertise with Svitzer renowned for its rapid response towage capabilities and as a loss mitigation partner for the marine industry, whilst Titan is well known for wreck removal operations such as the recent raising of the Costa Concordia.

Ardent will begin operating 1 May as one legal and financial entity under a singular management team, after which there will be a short transitional period in which the two companies will fully integrate all operational systems including IT, HSEQ, financial, commercial and operations. During this transitional period all customers should initially continue to contact Titan or Svitzer Salvage via existing phone numbers and email addresses.

Both groups have long heritages in the salvage trade although whilst Titan’s history only stretches back 35 years Svitzer can trace its origins to the early part of the 19th Century. Peter Pietka, chief executive officer of Ardent and formerly CEO of Svitzer Salvage, spoke of the future with confidence, saying:

“The company will become an industry leader in wreck removal and emergency response. Further, while remaining integral to our new company, emergency response and wreck removal will be part of a wider ecosystem of services. We have come together to build a more modern and effective offering for the maritime sector. The creation of the new company with Titan is the next step to becoming the safe choice for the industry. Not only can clients trust that operations will be carried out safely, but they can also rest assured that their interests will be cared for to the highest standards.

“The real power and benefit for the industry of our merged business will be its capacity and ability to adapt to the changing needs of our customers. Ardent will serve as a strong platform for organic growth and new expansion opportunities in complementary businesses such as underwater services and offshore decommissioning. Structured for growth and diversification, we will create new opportunities for the company and its employees.”

Ardent will be headquartered in Houston, Texas, and also have operational offices in the Netherlands, the United Kingdom and Singapore. The company will also have supporting offices in Australia, Brazil, South Korea, Greece, South Africa, among other regions. The name was chosen specifically for its classic definition, intensely devoted, as this was the culture the company wishes to create and project. Chris Peterson, vice president of Titan Salvage observed:

“This merger brings together some of the most experienced, highly regarded salvage experts in the world. Our combined strength means we can provide a stronger network in key global locations, it means best practices shared globally and it means a broad range of proven marine capabilities that will best serve the maritime industry for a long time to come.”