Cotemar Operations in Mexico

About Cotemar
Cotemar de C.V. is a company found in Mexico. Cotemar supplies offshore development oil fields with specialized boats. The company was started in 1979. It is located in Ciudad del Carmen, Campeche, Mexico. Cotemar also performs rehabilitation and maintenance of semi-submersible platforms and offshore center facilities. The company provides accommodation and catering services to support the operations in specialized transport vessels. This Mexican company also serves the oil industry and has an experience of over 36 years. Cotemar specializes in Marine Maintenance and Operation, Construction and Engineering, as well as Air Transportation. Cotemar recently achieved 167 million USD profits in 2015 with a net profit of 85.6 million USD in the same year. The Mexican company is listed on the Oslo Stock Exchange code PRS tickers and plans to operate worldwide with thousands of estimated employees.

Cotemar S.A. DE C.V. Mexico Acquired Vessels from Grandweld Shipyards
Cotemar S.A. DE C.V. Mexico received four units 42 meter Aluminum Crew Boats on 14th September 2014. They were prearranged with the Grandweld Shipyards in June 2013.The 42 M Aluminum Crew Boats have inbuilt advanced navigation equipment including the EPA Tier 3 compliant main engines. The vessels offer larger deck space, VIP accommodation, luxury seating, and enhanced crew comfort. They are designed to meet the need of every client. The vessels can reach speeds of 26 knots. Each boat can carry sufficient fresh water and fuel, one hundred workers, and ninety tons of cargo. Cotemar will operate the four boats throughout the Mexican Gulf. It will collaborate with the United States Coast Guard and the US Environmental Protection Agency.

How the Pull out of Pemex from the Mexican Offshore Oil Development Business will affect Cotemar
Mexican media recently announced that Petróleos Mexicanos Pemex was going to cut its expenditures to adjust their budgets to the 25 dollar cost per barrel of oil. This has negatively affected the Cotemar S.A. de C.V. Cotemar as it will have to suspend the operations of the Safe Lancia in mid-March 2016 due to the rising oil prices. Cotemar’s other three vessels are also most likely to be dismissed into other suitable lay-up locations. Cotemar’s other vessels such as the Safe Britannia will also be demobilized out of Mexico for leasing. The Safe Hibernia and Jasminia will be prepared for cold-stacking in the United States. Cotemar is enthusiastic that the challenges in Mexico will get better soon and that it will be able to recover Mexican oil markets.