Compagnie Générale de Géophysique-Veritas SA and Louis Dreyfus Armateurs SAS announced the creation of a ship management joint venture, GeofieLD Ship Management Services. Co-owned 50 % by CGG and 50 % by Louis Dreyfus Armateurs Group, the new joint venture will provide maritime ship management services for five of CGG's high-capacity 3D seismic vessels. This equal ownership reflects the common vision of CGG and Louis Dreyfus Armateurs to combine their seismic and maritime expertise and experience in order to align QHSE systems, streamline communication and define the JV's strategy. This move also underlines the commitment shared by both parties to establishing a reliable maritime platform and maximizing the overall seismic performance of the five vessels managed by the joint venture.

The joint venture will be based in Suresnes, France. Alain Coatanhay from Louis Dreyfus Armateurs will be the Chairman of this new joint venture and David Rapidel from CGG has been appointed as Managing Director.