Marine geoscience and offshore construction support player Next Geosolutions (NextGeo) is expanding its fleet with the acquisition of a multipurpose survey vessel (MPSV) from Norway’s Beitveit Holding.
The Milan-listed company, part of Naples-based shipping group Marnavi, is paying €6.75m ($7.1m) for the 2010-built Sea Admiral, which will be renamed NG Explorer and used for geophysical, geotechnical, environmental and UXO surveys.
NextGeo said it would invest an additional €3m to €5m in refitting works. The 58-m-long vessel will fly the Italian flag and should be operational from the first quarter of 2025.
“In light of the company’s growth, the acquisition of this new vessel asset represents an important opportunity for the Group and is part of our growth plans to expand our owned fleet with vessels carrying out specific activities pertaining to the NextGeo Group,” said Giovanni Ranieri, CEO of NextGeo.
The acquisition will bring the number of NextGeo’s owned offshore vessels to four, including the addition of the 2014-built OSV Deep Helder, which will be finalised in January 2025. The company also has access to the entire Marnavi offshore fleet of nearly 15 vessels.
