Eide Marine Services

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Eide Marine Services
Industry Shipping Offshore
Founded 1955 (as Georg Eides Sønner)
1992 (1992) (current)
Headquarters Høylandsbygd, Hordaland
Area served
Transport and Logistics, heavy lift operations, salvage, installation and maintenance of subsea equipment and wind turbines offshore, concept development, design and engineering
Key people
Johannes Eide (founder and former CEO) Georg Eide (Chairman of the Board and Owner)
Revenue NOK 60 million (Q1 2009)[1]
Website http://eidemarine.com

Eide Marine Services is a shipping and maritime company specialized in transport and logistics, heavy lift operations, salvage, installation and maintenance of subsea equipment and wind turbines offshore. The company has its headquarters in Høylandsbygd. The company was founded in 1992, after the restructuring and merging of Eide Contracting and Eide Marine Tech. Its current CEO is Georg Eide Jr.


Georg Eide's Sønner (1955–1983)[edit]

The company was founded in 1955 as Georg Eide's Sønner by brothers Johannes and Gerhard Eide. Named in honour of their late father, also a shipbuilder, the company focused on building wooden vessels for the fishing industry, much like the brothers had learned from their father. During the first decade, the company grew fast, and by the 1970s the company was one of the leading job suppliers in the local community. In 1982, two subsidiaries, Eide Marine Tech and Eide Contracting, were formed to delegate some of the companies' assets and operations in a more effective manner. However, the company had struggled with financial difficulties since the late 1970s, which eventually forcing Georg Eides Sønner to declare bankruptcy in 1983. The two subsidiaries however, continued operations.

Eide Marine Services (1983 onwards)[edit]

In the next years, operations continued as normal, albeit now under the name Eide Contracting, one of the subsidiaries. The company would however continue to struggle financially, and in 1992, the companies were restructured and merged into a new company, Eide Marine Services. However, the financial difficulties led the company to sell its main shipping plant, Halsnøy Verft, to rivals Mjellem & Karlsen to stabilize its economy.

Since then, Eide has risen from financial struggler to golden status,[clarification needed] and today is one of the leading firms in the West-Norwegian shipping industry, specializing in salvage operations. The company was notably involved in the salvaging of MS Sleipner and Green Aalesund, as well as M/S Server, giving the company the boost they needed.

On June 8, 2010, the company announced the signing of a 10-year contract to produce maintenance ships for Brazilian firm Lupatech. The contract is estimated to give the company an approximate of 6.3 billion NOK (c. 1 billion USD) of revenue until 2020.[2][3]

Today, Eide Marine Services has its main office in Høylandsbygd in Norway, with subsidiaries in China, Holland and Brazil.