'Advisory powerhouse' to open new doors in offshore and towage

Martin Helweg has forged equity partnerships with shipbroker CSO Marine Group and M&A advisor JBR to unlock offshore opportunities worldwide by bridging regional gaps and giving clients access to markets and opportunities previously out of reach. He also serves as managing partner for both JBR and CSO in the region bringing his two decades of senior maritime leadership experience, including nearly 10 years with industry leaders Topaz, P&O Maritime Logistics and DP World, to the table.

The timing, said Mr Helweg, could not be better. “After a crisis of biblical proportions that challenged offshore sectors, the past 24 months have shown utilisation stabilising at attractive and sustainable levels," he said. New entrants such as Capital Offshore, Adani and ADNOC Logistics & Services are aggressively expanding offshore operations. Long-term contracts underline operator confidence, and capital funds once dismissive of the sector are now exploring major investments. Mr Helweg is advising one such fund on acquiring a sizeable offshore player; a deal that Mr Helweg asserts would have been unthinkable just a few years ago.

CSO Group specialises in renewables, offshore and towage vessel brokerage, covering sales, purchases, charters and operations. Unlike competitors where offshore is a compartmentalised department within generalist brokerages based overseas, CSO’s specific focus enables close client relationships and transparent dealings. CSO also brings critical expertise on newbuilding vessels, knowing which shipyards deliver good quality and value for money.  

JBR contributes four decades of M&A advisory experience to the partnership, having delivered significant offshore transactions globally. Headquartered in Dubai, JBR operates as part of a smaller boutique M&A houses’ network called Reach, which expands buyer-seller connections. JBR handles sell-side and buy-side mandates, restructuring and ship finance for owners, family offices and capital funds. This extended reach allows clients to access buyers beyond their immediate networks. Mr Helweg recounted a family owned shipping business initially expecting a four-times-EBITDA valuation, but through JBR’s broader network discovered potential for six-times EBITDA, emphasising "many sellers just don’t have the access to these buyers.”

On chartering, Mr Helweg criticised procurement processes at some larger entities as “incredibly cumbersome, non-transparent, and simply not a good commercial process.” CSO, as part of the advisory powerhouse, aims to streamline and clarify these procedures, lowering charter costs for operators while enhancing revenue opportunities for vessel owners.

Mr Helweg’s new Dubai office, opening imminently with 10–12 staff, will serve the GCC and beyond with no geographic restrictions on mandates. Current instructions range from small owners struggling with vessel deployment to large industry players pursuing foothold expansion via acquisitions.

Integral to the business is trust. Mr Helweg stresses many owners view their companies as family members, making trusted relationships essential when contemplating sales or entering unfamiliar markets. “If I ever seem not independent or biased, then I will lose my business,” he said. Both CSO and JBR maintain independence while collaborating with numerous brokers, maritime lawyers and intermediaries, creating synergies without conflicts.

The partnership’s 12-month goals are clear: establish a solid physical presence, secure anchor customers, and successfully execute initial mandates to cement its status as the region’s go-to maritime advisory powerhouse. The long-term vision is to become a household name as the definitive tug and offshore advisory.