Australia's largest privately owned vessel hire and offshore marine services group, Bhagwan Marine, has launched its own subsea division.
Bhagwan, which doubled its turnover last year to $244 million, says it has hired a team of subsea experts and will be entering the national market offering services in diving, remote operated vehicles, subsea surveying and engineering.
The new division will put it in direct competition with other subsea service providers such as Neptune Marine Services, with which Bhagwan has a contract to operate its custom-built dive support vessel, the Dryden.
Bhagwan has opened a new office in Belmont where its subsea division will be managed from.
The new premises includes a large warehouse and laydown facility.
Bhagwan managing director Loui Kannikoski said he expected the subsea division to be a valuable addition to the fast-growing business, which currently operates more than 150 vessels around Australia, up from 70 in 2013.
"This has been a huge decision for us, but one that we believe will set us apart from our competitors and provide huge benefits to our clients in the form of efficiencies and savings," he said in a statement.
"We wouldn't have gone into this unless we felt we had the right people to become industry leaders in this field.
"However, the experience of the team we have assembled is second to none, so I'm sure we will be extremely competitive in the subsea industry in the near future."
