Subsequent to procuring its first vessel Regina 250 Derrick Lay Barge in 1992, VM embarked on a trajectory of robust growth. In less than fifteen years, company’s dynamic growth has resulted in VM acquiring and managing a large fleet.
In parallel with adding new vessels to its fleet, VM has increased the number of specialised industry professionals. The total number of VM employees reached its peak in 2008 when VM had over one thousands of employees on its books. If taken into account that VM total number of employees was less than one hundred in the early 1990s, the fact that company has increased its workforce drastically by 2010 serves as evidence to prove the success of VM Determination to Grow policy.
Furthermore, the total value of VM assets and revenues has been rising steadily. As a result of its expansionist business policy, in the last couple of years VM assets and revenues have grown substantially.
The value of VM completed projects which started with only few thousand US dollars in total in early 1990s, has soon risen to over a hundred million dollars per-project value in 2000 onwards, with the value of single EPC offshore project awarded to VM in 2008 reaching almost half a billion of US dollars.
The gradual, but rapid strengthening of VM reputation has paved the way for VM geographical expansion, thus allowing VM to secure EPC offshore construction contracts in the entire Arabian Gulf, in the Black and Red Sea, on the Indian subcontinent, and on the European and African continent.
Due to VM commitment to execute awarded projects with maximum efficiency, coupled with VM distinctive dedication to HSE standards, the company has undoubtedly witnessed a steady and a sustainable growth over the last 20 years. Such trends have enhanced VM future growth aspirations prompting VM to continue its ambitious growth trajectory.