Underwater Propulsion Engineers

What Underwater Propulsion Engineers does

Underwater Propulsion Engineers (UPE) is a Netherlands-headquartered, privately held maritime services company that delivers underwater maintenance and repair of vessel propulsion systems without requiring dry-docking. Founded in 2012 as a dedicated entity combining AEGIR Marine BV and Holland Diving International BV, UPE inherits more than 40 years of combined submarine maintenance experience from its founding parents and operates through offices in Steenbergen (Netherlands) and Singapore. Its core technology is the proprietary Sealdock® system, a flexible enclosure installed around the stern tube to create an in-situ dry environment, enabling dive technicians to replace stern tube seals in conditions that approximate a dry-dock. Service lines span stern tube seal repairs, propeller repairs (cropping, balancing, modifications, straightening), full thruster operations including Azipods and retractable thrusters, class-approved wet welding, non-destructive testing (Eddy Current, Ultrasonic, MPI), IWS and UWILD surveys, PCF and energy-saving device refits, and anchor recovery and salvage.

UPE's go-to-market is enterprise field sales with a global mobilization model: a worldwide network of local support stations enables 24/7 dispatch of dive technicians, Sealdock® equipment, and seal spares to any port. The company sells project-based professional services on custom quotations with pay-as-you-go billing; pricing is not publicly disclosed. Customers are commercial maritime operators whose pain points — avoiding costly and time-consuming dry-dock calls, maintaining class-society compliance, and recovering from in-service propulsion damage — are addressed through class-approved procedures. UPE holds IACS-wide seal bonding approvals plus specific accreditations from Lloyd's Register, NKK, and ABS for underwater propeller work, providing a regulatory moat that is difficult for generalist diving contractors to replicate. Headcount is in the 51-100 range; no revenue or funding figures are publicly disclosed.

Name

Underwater Propulsion Engineers

Legal name

UPE BV

Website

https://upe-global.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

51–100 employees

Short description

Underwater Propulsion Engineers delivers global underwater maintenance and repair services for commercial vessel propulsion systems, using its proprietary Sealdock® system to enable stern tube seal, propeller, and thruster work without dry-docking for maritime shipping operators.

Ownership category

akta.pro rank

Product category

Marine Underwater Services

NAICS

Ship Building and Repairing (336611), Support Activities for Water Transportation (4883)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Underwater Hull Services (Diving, In-Water Cleaning, Propeller Polishing, Inspection) (TLAHAMAL)

akta.pro secondary industries

Underwater Hull Inspection, Cleaning & Propeller Services (TLAKAKAJ), Underwater Salvage & Diving Operations (UWILD, Cutting, Welding) (IMAJANAD), Propulsion MRO, Spares & Field Service (Overhauls, retrofits, upgrades) (IMAJAHAN), Propellers & Waterjets (IMAJAHAE)

Keywords

• Underwater marine services
• Stern tube seal repairs
• Propeller repair services
• Thruster maintenance
• Underwater hull maintenance

Headquarters

HQ city

Steenbergen

HQ country

Netherlands

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Underwater Maintenance and Repair Services: Project-based professional services for underwater maintenance and repairs including stern tube seal repairs, propeller repairs, thruster operations, and class-approved wet welding. Services are provided globally with 24/7 availability and include tailor-made quotations with local support.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Underwater Propulsion Engineers delivers on-site underwater maintenance and repair services for marine propulsion systems and components, including stern tube seal repairs, propeller repairs, thruster operations, class-approved wet welding, non-destructive testing, and hull/propeller efficiency programs. The company deploys proprietary Sealdock® flexible systems that create a dry environment underwater, enabling dive technicians to perform repairs similar to a dry-dock operation without taking vessels out of service.

Product overview

UPE (Underwater Propulsion Engineers) is a maritime underwater services company formed from a partnership between Aegir Marine BV and Holland Diving International BV, offering more than 40 years of combined experience. The company provides a portfolio of specialized underwater services including Stern Tube Seal Repairs (using proprietary Sealdock systems), Propeller Repairs, Thruster Operations (including Azipods, nozzles, retractable thrusters), and comprehensive Underwater Maintenance and Repairs. Services include class-approved wet welding, non-destructive testing, IWS and UWILD surveys, hull and propeller efficiency programs, and salvage operations. UPE operates a worldwide network of local support stations for fast deployment and maintains approvals from all major IACS classification societies. The company has operational bases in the Netherlands (Steenbergen) and Singapore.

Differentiator

Problem solved

Functional benefit

Products and services

• Stern Tube Seal Repairs

Quantifiable outcome

• Avoid dry docking requirements for many maintenance and repair operations

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• AEGIR Marine BVcoreStrategic or Co-development PartnerFounding partner and one of the 'whales' in the sector providing over 40 years of submarine maintenance experience. UPE benefits from their expertise and established industry connections. Dive technicians are trained and certified by AEGIR-Marine.
• Holland Diving International BVcoreStrategic or Co-development PartnerFounding partner and one of the 'whales' in the sector providing over 40 years of submarine maintenance experience. Combined with AEGIR Marine BV, they created UPE to offer excellent service and ultimate customer satisfaction.
• AEGIR-Marine (Seal Training)coreStrategic or Co-development PartnerAEGIR-Marine trains and certifies UPE dive technicians for seal repair operations. AEGIR-Marine is described as a stern tube seal and propulsion services and spare parts provider.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• International Diving Services (IDS): IDS is a commercial diving contractor providing underwater ship repair, propeller polishing, hull inspection, and thruster servicing. Their service portfolio closely mirrors UPE's core offerings, positioning them as a direct competitor in regional markets.
• Subsea Global Solutions: Subsea Global Solutions provides underwater hull cleaning, inspection, and maintenance services to commercial and government marine fleets. They overlap directly with UPE on in-water hull and propulsion interventions and compete for shipowner underwater service contracts.
• Cathelco: Cathelco supplies underwater ship maintenance services including hull corrosion protection (ICCFP), propeller shaft earthing, and associated underwater engineering. They overlap with UPE in the underwater ship-services category with comparable customer base of commercial shipowners.
• Hydrex: Hydrex is the most direct global competitor to UPE, specializing in underwater hull repair, propeller straightening/polishing, stern tube seal replacement, and thruster servicing for in-service vessels. Both firms compete head-to-head for the same class-approved underwater propulsion work on commercial ships worldwide.

Emerging players

• AEGIR Marine: AEGIR Marine is one of UPE's two founding partners and a long-standing provider of stern tube seal services, propulsion spares, and seal training. While a parent entity, it also operates as a peer offering overlapping seal and propulsion technical services to the maritime industry.

Broad incumbents

• James Fisher and Sons: James Fisher operates marine services including commercial diving and subsea inspection/repair across multiple geographies. Their specialist diving division competes with UPE for underwater ship repair work while their broader portfolio addresses adjacent marine markets.
• Wärtsilä: Wärtsilä is a large marine technology and services group with offerings across propulsion, seals, and ship lifecycle services. They compete with UPE indirectly through their broader service agreements that may bundle underwater interventions with larger maintenance contracts.
• Wilhelmsen Ship Management: Wilhelmsen operates oneWerk and broader hull services including underwater hull cleaning and maintenance as part of a global maritime services portfolio. While not a specialist, their scale and global port network make them a competitor for underwater maintenance contracts.

Regional players

• Underwater Contracting (UWC): UWC provides commercial diving, underwater inspection, and marine maintenance services with regional strength in Australia and Asia-Pacific. They compete with UPE for underwater ship repair and hull maintenance work in their served geographies.
• Smit Lamnalco: Smit Lamnalco provides marine services including terminal support and diving operations, primarily across specific regional markets. They are a relevant comparable for underwater marine services delivery, particularly where geographic overlap exists with UPE's port network.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/upe-underwater-propulsion-engineers

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Underwater Propulsion Engineers