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International Women in Engineering Day (#INWED20) takes place on 23 June with the theme of ‘Shape The World’. We hope by sharing some of Global Marine Group’s success stories, we can help to raise the profile of women engineers across the globe, and encourage more people to consider engineering as a profession for all.
I started this career because I loved the idea of doing something adventurous and completely different to any option given to me at school. At the beginning of my career I worked hard to prove myself as capable and competent. I was always aware of how my reputation would proceed me. I am currently the Second Officer on board the Cable Retriever and feel respected and have found the balance between keeping my personality and professionalism. Naturally working away from home and loved ones can be isolating but especially so when you are surrounded by men, mostly twice your age. However, they have made life at sea fun.
I am very thankful for all the support I have received from my colleagues, especially from the Deck Department. I am studying to complete my Chief Mates certification and am proud of my career so far.
I would like to see women in senior ranks and in all departments. Let’s reduce the gender gap and include women in all teams, so it is not a novelty. I am confident that the upcoming female cadets will be given the same opportunities and support that I have received for a successful career at sea, and would like to see more and more of that in future years.
8 June 2020, London – On World Ocean Day, the Ocean Renewable Energy Action Coalition (OREAC) has announced its vision for 1,400 GW of offshore wind globally by 2050 to drive decarbonisation and a green economic recovery from the COVID-19 crisis. This ambition goes beyond current offshore wind forecasts, but is entirely achievable considering the resource potential, technology innovation, and government appetite to position offshore wind at the centre of the global energy transition.
OREAC was formed in response to the 2019 call for ocean-based climate action by the High Level Panel for a Sustainable Ocean Economy (Ocean Panel), and represents ocean energy in the global dialogue on a sustainable ocean economy. The Ocean Panel is a unique initiative of 14 serving world leaders working with diverse stakeholders to accelerate bold, pragmatic solutions for realising a sustainable ocean economy.
OREAC is spearheaded by Ørsted and Equinor, and includes other major players in the global offshore wind industry: CWind, Global Marine Group, JERA, MHI Vestas, MingYang Smart Energy, Mainstream Renewable Power, Shell, Siemens Gamesa Renewable Energy, TenneT, and GE Renewable Energy. Additional partner organisations include Global Wind Energy Council, World Resources Institute, UN Global Compact, the Chinese Wind Energy Association and Ocean Energy Systems.
A report commissioned by the Ocean Panel shows that ocean-based renewable energy, such as offshore wind, floating solar, tidal and wave power, could meet nearly 10 per cent of the global annual greenhouse gas emissions reductions needed to remain on a Paris-compliant 1.5°C pathway in 2050. It estimates that up to 85 per cent of this decarbonisation potential will come from offshore wind. 1,400 GW of offshore wind would power one-tenth of global electricity demand while saving over 3 billion tonnes of CO2 per year, equal to taking 800 million cars off the road.
Benj Sykes, Head of Market Development, Consenting and External Affairs at Ørsted, commented: “In a short period of time, offshore wind has become an incredibly competitive solution for clean power generation across the world, with impressive cost reduction driving the industry’s growth by over 30 per cent in the past decade and now outcompeting alternative fuels such as coal. Over 30 GW of capacity is already installed, yet this is just the tip of the iceberg for the massive growth potential of offshore wind. Working alongside other technologies such as renewable hydrogen could further bolster offshore wind’s ability to power economies across the world sustainably and at a low cost. The sector’s success to date has been built on collaboration with governments, and OREAC is ready to work with policymakers across the globe to deliver this potential and realise our clean energy future sooner than ever thought possible”.
Scaling up offshore wind is a cornerstone of decarbonising the world’s energy use and will support the revitalisation of economies, which is more important than ever in the context of economic recovery from the COVID-19 crisis.
The industry is ready to play an important role in powering a green recovery with ocean renewable energy at its heart. OREAC estimates that offshore wind could provide around 20 million years of employment (defined as full-time work for one person per calendar year with 260 working days) by 2050, if the 1,400 GW vision is achieved. This job creation potential is calculated using IRENA data, and covers the full value chain of offshore wind, from procurement to construction to decommissioning.
Stephen Bull, Senior Vice President Offshore wind at Equinor, added: “The ongoing COVID-19 crisis has forced us to take a step back and rethink the future we want to create for the next generation. Going back to ‘normal’ is not an option if we want to build more resilient economies and sustainable development pathways that will benefit all citizens. Offshore wind can promote better health by reducing air pollution, increase energy security by reducing dependence on expensive imported fuels, save billions of litres of water, reduce the harmful environmental, social and economic impacts of climate change, and be an important driver of economic growth and job creation. While this may seem too good to be true, the reality is that offshore wind is ready to deliver now. It can provide all these benefits and more to drive a sustainable economic recovery and contribute to thriving, sustainable economies of the future”.
The forthcoming report from OREAC will address: offshore wind’s socioeconomic benefits and role in mitigating climate change; policy, infrastructure and market frameworks which enable sector growth; safety considerations; environmental planning; the importance of colocation and coexistence with fisheries and other marine users; and other ocean-based renewable energy technologies.
As the COVID-19 pandemic continues to affect businesses and individuals globally, like everyone, we’ve been adapting as an organisation to ensure that we can continue to deliver important services to our valued customers, minimising the impact on their operations and projects.
We continue to follow UK and local Government guidelines as well as public health advice as appropriate and in the case of specific ongoing live projects, our teams continue to maintain regular direct communications with our customers.
With lockdown measures still being widely enforced across the globe, and many industries adapting to remote working solutions, connectivity and power are increasingly critical commodities. We say a huge thank you to our teams across the world, many working around the clock to keep us all connected, with a continuation of these essential infrastructures.
The health, safety and wellbeing of our team members, clients aboard our vessels, those in our global offices and homeworkers is always our number one priority. Having successfully introduced a robust but flexible policy supporting all employees who are able to work from home, we are also looking to the future and making plans for a ‘new normal’, putting additional measures in place. For some of our employees, home working has not been possible due to the nature of their roles, and many have been identified as key workers. In these instances, we now work to increased health and safety measures across all our sites and vessels to ensure they were operating, and continue to operate, in accordance with the highest possible hygiene standards and adhere to ongoing Government guidelines in both the UK and elsewhere across the globe as they evolve.
COVID-19 test kits are being used onboard vessels, isolations periods are being enforced, shore leave has been restricted and crew change rotations updated to minimise risk as far as possible and keep those onboard our ships globally safe and well.
We are committed to providing an uninterrupted service to all clients and are available via the normal communication channels should you have any questions or concerns.
Global Offshore, a leading provider of cable installation, repair and trenching services to the offshore renewables, utilities and oil & gas markets and part of the Global Marine Group, announced today a five-year export cable repair framework with Balfour Beatty Investments and Equitix (BBE), covering the three OFTOs they own: Humber Gateway, Gwynt Y Môr and Thanet.
The Complete Cable Care solution is designed to respond quickly to power cable damage and therefore brings new standards of readiness and responsiveness to the industry. The service is supported by Global Marine Group’s fleet of cable ships and CTVs, a maintained stock of universal power joints and cable, with access to qualified jointers, prepared to respond to a fault or incident on any of the OFTOs covered by this agreement.
With a total of 152km of export cable covered, the framework agreement, which began in February, sees BBE join Transmission Capital Partners, Ørsted, Scottish & Southern Electricity Networks and Vattenfall all with export or array cable being safeguarded under similar agreements with Global Offshore.
Director of Power Cable Maintenance, Andrew Lloyd, commented, “Export cable faults have serious implications on the amount of energy that can be harnessed and utilised from an offshore wind farm, so proactive intervention before they happen as well as quick action when they do occur make all the difference to minimising any loss in revenue. With our reliance on renewable energy ever increasing, we’re pleased to be working with BBE as their risk reduction and repair partner across these three important UK sites.”
John Sinclair representing BBE said: “BBE has developed a suite of contingency plans to address all credible events that could impact on OFTO availability. The contingency plan for a subsea cable fault identified the potential time and cost savings that could be achieved by entering into a framework agreement with a marine repair contractor, so BBE is delighted to have signed this five year agreement with the Global Marine Group.”
In light of recent developments and UK Government guidelines, we wanted to update our customers, suppliers and stakeholders about the measures we are taking to cope with the effects of COVID-19.
We are following UK and local Government guidelines as well as public health advice as appropriate, and closely monitoring ongoing updates and changes, while making a conscious effort to minimise any impact on our business and continuing to support our client’s operations and projects. In the case of specific ongoing live projects, our teams continue to maintain regular direct communications with our customers. As connectivity right across the globe becomes ever more critical we will strive to ensure a continuation of service for customers, to maintain the essential infrastructure that our Group and the markets we operate in provide to the global community.
The health, safety and wellbeing of our team members, clients aboard our vessels, those in our global offices and homeworkers is always our number one priority, and we have recently introduced a robust but flexible policy to support all employees who are able to work from home supported by contingency planning. For any employees not able to work from home, we have increased health and safety measures across all our sites and vessels to ensure they are operating in accordance with the highest possible hygiene standards and adhering to ongoing Government guidelines in both the UK and elsewhere across the globe as they evolve.
COVID-19 test kits are being used onboard vessels, shore leave has been restricted and crew change rotations updated to minimise risk as far as possible.
In line with Global Marine Group policy, we have also introduced the following precautionary measures:
As a Group, we are also dedicated to supporting the local communities we work in and for. Our employees are empowered to take the necessary time out of their daily work lives to help those in need living in their local communities, providing it is safe and practical for them to do so.
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I started this career because I loved the idea of doing something adventurous and completely different to any option given to me at school. At the beginning of my career I worked hard to prove myself as capable and competent. I was always aware of how my reputation would proceed me. I am currently the Second Officer on board the Cable Retriever and feel respected and have found the balance between keeping my personality and professionalism. Naturally working away from home and loved ones can be isolating but especially so when you are surrounded by men, mostly twice your age. However, they have made life at sea fun.
I am very thankful for all the support I have received from my colleagues, especially from the Deck Department. I am studying to complete my Chief Mates certification and am proud of my career so far.
I would like to see women in senior ranks and in all departments. Let’s reduce the gender gap and include women in all teams, so it is not a novelty. I hope the upcoming female cadets are given the same opportunity and support I have received for a successful career at sea.
My journey began in 2017 when I was studying Public Services at college. During this time we were given a talk by SSTG about the Merchant Navy and this is where I first heard about these “cadetships”. This sparked my initial interest in a potential career at sea. For me the idea of going to sea excited me, it sounded adventurous, different and had a lot of qualities to it that suited to me as a person. From there I started working for DFDS Seaways as a stewardess, gaining a bit of seafaring experience. I managed to get a cadetship with Global Marine in 2018 and began my Deck Officer training. It soon become apparent that I was outnumbered by my male peers. Turning up to Warsash Maritime Academy on my first day and realising I was the only women in my class; it was a daunting feeling. It is because of this gender imbalance that I have felt this unspoken reputation to be one of the women to make it in this male dominated industry.
Once I completed my first phase of training I joined the Cable Retriever. Again I was faced with being the only women, this time half way across the world and working alongside men of different ages and nationalities. Not only did I have the usual challenges of adapting to a new life at sea, training and studying, it was all being done in an industry where you are the minority. But one of main challenges I face is this feeling of being out of place. By being the only women on board, it is hard to relate to the rest of the crew. With the distance and limited contact with friends and family, this also makes it harder to overcome these adversities.
There have been a number of individuals within the company that have help me during my training. After a month into my first trip, I was no longer to be the only women as 2/O Kaya Teare joined. It is really positive for me to see another like minded person in a position, where I hope to see myself in the future. She has told me about her experiences of life at sea, as a women, and has been really helpful in all aspects of my training.
Despite my short time in this career I have had a number of amazing opportunities. I have learnt many valuable skills, I have traveled to places I never thought I would get to see, I also got to represent the Merchant Navy during the festival of Remembrance last year. All of these would not be possible if I did not make the decision to join this career.
Now half way through my training I can say so far this career has overall been a huge learning venture and positive experience. The crew have been supportive through my training so far and make life on board enjoyable. With every exam I pass, new skills I learn, challenge I overcome, I am proving to myself and others prospective women that it’s possible to have a career at sea.
International Women’s Day, on the 8 March, provides Global Marine Group with the opportunity to celebrate the brilliant women who work for us through sharing their stories, while calling for greater equality. Therefore we asked a series of questions to give us an insight into their challenges and achievements.
Sheryl is the Commercial Manager for Global Marine in Singapore. She started work for the business in April 2016 as a Proposal Engineer before being promoted to Commercial Manager.
There are certain societal expectations and beliefs about women’s leadership/working abilities that exist since decades ago. However, I have come to realise that we need to be confident and assertive when dealing with matters, in order to gain recognition. The more a woman tries to shy away from a problem or confrontation, the more unlikely a woman gets anywhere. Challenges should be embraced with open arms and personally, the way I deal with such situations, is to always think from others’ points of views. Whilst balancing family and work is a challenge, it is not a challenge AT work. It is important to keep family and work matters separate, in order to achieve a favourable outcome.
Thankfully, I had been given the opportunity to learn throughout my journey in my current company. Having a supportive line manager is extremely crucial and I am proud to say that my line manager is always there to mentor me when needed. At the same time, it is important to ensure our voices are heard. When asked for opinion, speak up. When not much guidance is given, do not just wait for things to happen. We need to be proactive and propose ideas. One thing I have learnt is to always try to come up with an answer for every problem.
To be honest, what can be the greatest achievement for a woman with children? The fact that we gave birth to little humans is no mean feat. From here on, it is a juggling act at its best. My greatest achievement is to forge a strong bond with the people who work together with me. Only with a great team, can we achieve great things.
There are certain stereotypes of women that exists in this society. I wish for anyone out there to try and think that not all women act and behave the same. It always takes two hands to clap. Once anyone receives a positive feedback, one will automatically generate a positive response.
Global Marine Group (“GMG” or the “Company”), a leading provider of subsea cable installation and maintenance services to the telecommunications, offshore renewables, utility and oil & gas markets worldwide, is pleased to announce an affiliate of J.F. Lehman & Company (“JFLCO”), a leading middle-market private equity firm focused exclusively on aerospace, defence, maritime, government and environmental sectors, has completed the acquisition of the Company for an enterprise value of $250 million. In a separate transaction, GMG fully divested its stake in Huawei Marine Networks after 12 successful years, for a total enterprise value of $285 million.
Under prior owner HC2 Holdings, Inc., GMG successfully grew its core telecommunications business as well as completed two strategic acquisitions – CWind Limited and Fugro’s cable lay and trenching business – to expand and deepen GMG’s presence in the offshore renewables and power market. Major highlights over this period also include the extension and multi-year renewal of each of GMG’s fibre optic cable maintenance agreements as well as the completion of several prestigious projects including the installation of the South Atlantic link between Africa and the Americas, cables for one of the United Kingdom’s first floating offshore wind farms, and complex power and fibre optic cable installations for customers in the North Sea.
Ian Douglas, Chief Executive Officer at GMG, commented, “I’m extremely proud of GMG’s achievements over the last few years. As a business, we continue to grow from the efforts of our great team and the continued faith and support of our customers. I’m excited about the opportunity that lies ahead, and the prospect to work with our new owner, JFLCO, who shares our vision for growth and brings the drive and stability that will enable us to achieve our long term goals, whilst maintaining the high levels of service that we’re recognised for today.”
Ian Douglas continues, “In the last year, GMG has demonstrated its commitment to driving innovation and working in collaboration with the broader industry to bring solutions to customers’ challenges demonstrated through its Pre Lay Plough and the Hybrid SES projects. We have also expanded our fleet, including the most recent addition, Normand Clipper, a flexible vessel with broad subsea installation capabilities. This year we look forward to commencing major projects including the installation for Vattenfall at the Danish Kriegers Flak wind farm, as well as a number of other significant projects to be announced.”
JFLCO Partner, Alex Harman, said, “GMG represents a fantastic opportunity for JFLCO. The team, led by Ian Douglas, has shown great ambition and appreciation of their customer base. We believe the Company’s strong market position, comprehensive suite of services and assets developed to meet market demands, and talented workforce aligns with JFLCO’s investment strategy. We are delighted to partner with Ian, GMG’s Chairman Dick Fagerstal and the entire team and look forward to our shared success in the years to come.”
The Global Marine Group is extremely pleased to announce that an agreement has been reached between HC2 and J.F. Lehman & Company with regards to the 100% sale of the company. The transaction is subject to customary closing conditions being met, and is expected to close by the end of the first quarter of 2020.
NEW YORK, Jan. 30, 2020 (GLOBE NEWSWIRE) — HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE: HCHC), a diversified holding company, announced today that a subsidiary of Global Marine Holdings, LLC, in which HC2 holds an approximate 73% equity interest, has entered into a definitive agreement to sell 100% of Global Marine Group (“GMG”) to an investment affiliate of J.F. Lehman & Company, LLC (“JFLCO”). The sale includes GMG’s operating subsidiary Global Marine Systems Limited, a leading provider of offshore engineering services to the telecommunications, renewables, and oil & gas industries, along with several joint ventures, and excludes the previously announced sale of GMG’s 49% joint venture with Huawei Marine Networks Co., Limited (“HMN”).
Total base consideration for 100% of GMG (excluding HMN) will be approximately $250 million in cash, subject to customary closing adjustments, plus a potential future earn-out should JFLCO and its investment affiliates achieve a specified multiple of their invested capital. Combined with the previously announced sale of GMG’s stake in HMN at a valuation of $140 million (of which approximately $85 million will be paid at closing, currently scheduled in the first quarter of 2020, with the remaining interest under a two-year put option), the total valuation for HC2’s Marine Services Segment (73% owned by HC2) is $390 million.
The GMG transaction is expected to close by the end of the first quarter of 2020, subject to customary closing conditions, with proceeds delivered to HC2 at that time. After repayment of approximately $97 million of pension and debt obligations at GMG, as well as other customary closing adjustments, taxes and transaction fees, HC2 will utilize the net proceeds it receives from the consummation of both the GMG and HMN sales to redeem a portion of HC2’s 11.5% Senior Secured Notes (the “11.5% Notes”) due 2021. The partial redemptions are expected to occur by the end of the second quarter of 2020.
Post-sale, the remaining 19% interest in HMN that is under a two-year put option agreement will remain as an indirect subsidiary of HC2.
“We are energized to start off 2020 with the completion of the sale process, and there is no question that our patience and persistence has been rewarded with a very strong outcome for HC2 stakeholders,” said Philip Falcone, Chairman, President and Chief Executive Officer of HC2. “Over the last five years, we have built a tremendous leading company in the marine services industry, led by Ian Douglas and his GMG team, and we know they will continue to build on their success while under the JFLCO umbrella.”
“Importantly, the sale of Global Marine will enable HC2 to take a significant initial step in our plan to de-lever,” added Mr. Falcone. “Once the GMG and HMN sales are completed, we will be able to redeem a significant portion of the 11.5% Notes at the HC2 corporate level. We believe this will better position our capital structure as we continue to be opportunistic and look to monetize additional assets at appropriate valuations, with the explicit goal of further reducing debt.”
“We remain excited about the potential for producing ongoing strong cash flows, while focusing on our expense management, and ultimately realizing longer-term growth opportunities across our overall platform of businesses,” concluded Mr. Falcone.
Deutsche Bank Securities and ABN AMRO acted as M&A advisors to Global Marine in connection with the transaction.
“We’re about to embark on a new chapter for Global Marine Group, and I want to thank the HC2 team for being effective owners of our business. The purchase by JFLCO provides the certainty that we need to continue to build our business across the telecommunications and utilities markets, deepening and widening the service we provide to our customers. We are fortunate to operate in markets that are transforming the world and we support the rising demand for connectivity of global communications and offshore renewable energy sources,” said Ian Douglas, CEO of Global Marine Group.
