Ardent no longer entering new contracts from May

In a surprise move, global salvage firm Ardent has said that it will no longer be entering into new contracts from May 2020. The leading emergency management and wreck removal company was formed in 2015 through the merger of Svitzer Salvage, then part of the Maersk Group, and Titan Salvage, part of US-based Crowley Group.

Last month it was announced that Papendrecht, Netherlands, headquartered Royal Boskalis Westminster NV had acquired Ardent Americas LLC, a provider of OPA90-mandated marine emergency response services in the US, covering about 500 shipowners and more than 4,000 vessels.

In September last year Ardent’s top management received funding from alternative direct lender Aurelius Finance Co to fund a management buyout of Svitzer and Crowley. Three months later Ardent announced that it would be moving its headquarters from Houston, Texas to Ijmuiden, Netherlands. It also said that it would be refocusing away from offshore decommissioning to its core business of marine salvage.

However, the reasons for Ardent’s sudden announcement that it would wind down were not immediately clear, with the company only saying that “all current preparedness and salvage contracts will be fulfilled, but outside of existing relations no more new salvage cases will be handled”. It added that “Ardent would like to take this opportunity to thank all its valuable customers and partners over the past five years for their trust in Ardent and its employees’ capabilities”.