Latest Marine Services News

Kelsian Group has entered FY27 after a record financial year, the $149.9 million sale of its Tourism Portfolio and a sharp reduction in leverage. But the transport operator is also awaiting an independent review into a fatal June bus incident as it pursues fresh international growth.

Bhagwan Marine reported $81.3 million in Q1 FY27 revenue, up 32% on the prior corresponding period, as subsea services and Riverside Industrial Sands led a stronger start to the year. Recurring revenue also increased to 64%, while new subsea awards and a Riverside Guardian contract added to the growth pipeline.

Kelsian Group has completed the $149.9 million sale of its Tourism Portfolio to Journey Beyond, reducing pro forma leverage to approximately 2.0x. The transport operator has reset FY27 Underlying EBITDA guidance to $295 million-$310 million as it shifts towards commuter and contracted services.

Bhagwan Marine has landed a multi-year deployment contract for its Riverside Guardian vessel with a global Tier 1 energy company, marking a key revenue milestone post its Riverside Marine acquisition.

Bhagwan Marine Limited has reaffirmed its FY26 EBITDA guidance, projecting combined earnings between $44.5 million and $46.5 million excluding acquisition costs, while highlighting strong cash flow and disciplined capital management during Riverside Marine integration.

Bhagwan Marine expects FY26 EBITDA between $44.5m and $46.5m, buoyed by Riverside Marine acquisition despite Middle East conflict causing project delays. The company highlights margin gains, disciplined costs, and rising recurring revenue as it advances integration and growth plans.

Ariadne Australia’s latest nine-month update reveals strong growth in its Orams subsidiary but a $5.2 million estimated total loss driven by currency headwinds and market declines in key investments.

Bhagwan Marine has completed its $130 million acquisition of Riverside Marine, enhancing its service range and recurring revenue streams through a mix of equity and debt financing.

Ariadne Australia Ltd reported a modest net profit of $2.8 million for the half-year ended December 2025, underpinned by strong growth in its Orams Group investment and key strategic assets despite foreign exchange headwinds.

Bhagwan Marine reports a sharp 67% drop in net profit for the half-year to December 2025, while announcing a transformative $130 million acquisition of Riverside Marine Holdings.

Bhagwan Marine Ltd has announced a transformative $120 million acquisition of Riverside Marine Holdings, significantly enhancing its scale, profitability, and market reach. The deal is expected to lift FY26 revenue to $346 million and deliver a 14% EPS accretion.

Bhagwan Marine Limited has announced a transformative acquisition of Riverside Marine Holdings for up to $130 million, significantly boosting its scale, service diversity, and earnings potential.