Turkish owner Manta breaks into offshore vessel sector with ex-GEOS PSV
Turkish shipowner Manta Shipping has entered the offshore vessel segment through a high-profile secondhand acquisition
Manta Shipping has emerged as the new owner of 2019-built platform supply vessel (PSV) Energy Empress, which has been renamed PSV Florya, according to shipping platform data. The change of ownership is further supported by updated insurance records.
According to MarineTraffic data, PSV Florya is currently en route to Istanbul.
The vessel was previously owned by Norway-headquartered Golden Energy Offshore Services (GEOS) and was sold for a gross price of US$30M. GEOS has said the transaction is expected to generate a booked gain of approximately US$14M.
Riviera reported that the Ulstein PX121 H-design multipurpose PSV was operating in the UK sector out of Aberdeen in 2025, but had moved to Bergen, Norway, by late January, according to AIS data.
GEOS has also disclosed the sale of 2016-built PSV Energy Partner for US$27M, with another Turkish buyer understood to be linked to that transaction.
Manta Shipping, which has been approached for comment, is a diversified owner with a fleet spanning bulk carriers and LPG carriers. According to information on its website, company division Mantaship manages 15 vessels, while Mantagas oversees six ships.
The group has been active in the sale-and-purchase (S&P) market in both segments in recent years.
Rising valuations
PSV valuations rose by as much as 16% in 2025 across most size and age categories, according to Veson Nautical’s year-end review. The only exceptions were 20- and 25-year-old vessels, which recorded value declines of up to 10%.
However, secondhand transaction volumes in the segment fell 29% year-on-year, the same report noted.
Looking ahead, shipbrokers expect the offshore support vessel (OSV) market to strengthen in the second half of the year, driven by constrained supply and firmer demand.
In a bullish signal for the sector, Tidewater recently announced a definitive US$500M deal to acquire all outstanding shares of Wilson Sons Ultratug and its affiliate Atlantic Offshore Services. The combined fleet includes 22 PSVs.
