ECOsubsea stabilises with strategic refocus on core European markets
Austevoll, Norway, 17 December 2025: ECOsubsea has successfully completed a restructuring process, which positions the company for renewed growth and stability in its core European markets. This restructure resolves a period of uncertainty that saw the company enter voluntary administration at the end of November 2025 as a result of challenging conditions in its planned expansion into the Singapore market.
ECOsubsea, which maintains the same management and hull cleaning assets, will now be focused on serving customers across Northern Europe, which have remained a profitable part of the business.
“The management team has taken this step to secure the future of the business and commitment to our clients,” said ECOsubsea CEO Tor Østervold. “The decision to restructure and exit the Singapore market was not taken lightly. We are sorry for the impact that this necessary move has had on any of our stakeholders, and grateful to those that have retained their faith in our work. In the coming year, our team will remain focused on our core European business which has seen steady year-on-year growth - with a 40% increase in demand during 2025 as compared to the previous year.”
ECOsubsea will continue to deploy its hull cleaning offerings from key service hubs around the ARA (Amsterdam, Rotterdam, Antwerp) region, as well as in Norway and the UK. In 2025, it serviced 150 individual vessels across 42 customers in Europe, using two of its remotely operated underwater vehicles to gently remove and securely capture both organic and inorganic matter from hulls. Customers have particularly praised the minimal environmental impact of the cleaning as the revolutionary collection system securely captures over 97.5% of hull debris - with 38 tonnes of fouling captured over the course of 2025.
“We are proud to have very strong relationships with our long term customers who have seen the benefits of using our services, and we are now entirely focused on leveraging this success. With the same people, the same vision and the same mission, it is very much business as usual. Our commitment to servicing our existing customers and assets in the market is unwavering, and with a third cleaning unit being redeployed to the European market, we hope that the increased capacity available to customers will further strengthen our position here,” Østervold added.
The restructure was supported with the aid of new maritime investors who are well known to theECOSubsea management team. The company maintains that all operational metrics remain strong and that its commitment to innovation, including its long term focus on sustainability and decarbonisation, remains its priority.