Scarborough-based company Mainprize Offshore Limited has expanded its fleet of workboats after receiving a funding of almost £2m from the Royal Bank of Scotland.
The family-run firm’s two main vessels, the MO1 and MO2, are currently in operation, with the MO3 having recently completed its first contract ahead of schedule.
The newest and most fuel-efficient vessel, the MO4, has been launched and is now operating from Hooksiel, with plans ongoing for the MO5.
The new vessels will allow Mainprize Offshore to continue the expansion of its support to the offshore oil, gas and renewable industries and create jobs.
The work carried out by the new ship will expand the work Mainprize does in underwater cables, seabed surveys, traffic monitoring and crew and equipment transfers.
Director Bob Mainprize said: “The funding received from Royal Bank of Scotland was necessary to allow us to continue our operations effectively and expand.
“We’re always striving to be better and this is a big step in helping us do so. We recently completed a transaction for the MO3 vessel which involved a complex set of procedures. RBS gave us constant support throughout this time, and their help enabled the vessel to be put straight on charter.”