V. Group acquires Bibby Ship Management

V.Group CEO Clive Richardson V.Group CEO Clive Richardson

MARCH 8, 2016 — V.Group has acquired Bibby Ship Management, part of the Bibby Line Group.Bibby Ship Management services all types of vessels and has particular strengths in the management of offshore vessels. It also provides crew management solutions, technical support services, marine travel, marine surveying, training and recruitment services.

With 332 personnel in the U.K., Isle of Man, Sweden, Ukraine, India, Philippines and Singapore, Bibby Ship Management complements V.Group's expertise in vessel management and support services across all vessel types.

V.Group has over 2,500 personnel based across 64 offices globally, supporting over 40,000 personnel in marine and offshore roles.

The combination of Bibby Ship Management with V.Group strengthens V.Group's overall position as a market leader in ship management and maritime services by also extending its position in the offshore market.

V.Group notes that the acquisition comes at a time when shipowners and operators are facing unprecedented challenges and are exploring strategic options for the management of their fleets.

"With the extensive expertise of the Bibby Ship Management team, our ability to offer comprehensive management and support services to offshore oil and gas assets and specialized project vessels is second to none," said V.Group CEO Clive Richardson. "We believe our combined capabilities offer a compelling outsourcing proposition to our clients, helping optimize operating and budgetary performance for shipowners. We deliver a higher performance assurance, through integrating a wider range of services in support of the management offering."

"Bibby Line Group has built its reputation as a high quality, safe and reliable ship owner and manager over 200 years' of trading in the most competitive and dynamic markets in the world," said commented Sir Michael J. Bibby, managing director, Bibby Line Group. "We set up our ship management business in 1982 and we are now involved in managing vessels for many well‐known multinational companies. By combining Bibby Ship Management's operations, people and expertise with V.Group's, we believe that our clients, as well as our own vessels, will continue to receive a high quality, personal service for years to come.

Want more? Subscribe now!

News from NASDAQ