Cal Dive International says it has sold its U.S. Gulf of Mexico shallow water surface diving fleet to a privately held company for cash of US$18.5-million and a 19.9% minority interest in the entity acquiring the assets. Cal Dive explains that the assets sold are comprised of eight surface diving vessels and miscellaneous inventory and equipment and it anticipates recording a gain during the second quarter as a result of the transaction. Net proceeds from the sale were used to repay a portion of the Cal Dive’s revolving credit facility. The Company also entered into a multi-year alliance agreement with the buyer under which the buyer will have the exclusive right to provide any surface diving services required by Cal Dive in the U.S. Gulf of Mexico to support pipelay, decommissioning, platform installation and other integrated services. This transaction is part of the Company’s strategic plan to divest non-core assets, strengthen the balance sheet and pursue opportunities that enhance shareholder value. Quinn Hébert, Chairman, President and Chief Executive Officer of Cal Dive, stated, “This transaction is part of our ongoing efforts to concentrate our financial and other resources on key strategic initiatives. These include our U.S. Gulf of Mexico saturation diving, pipelay and decommissioning and salvage operations and our construction and diving services in key international markets such as Mexico, Australia, Southeast Asia and the North Sea
Cal Dive International, Inc. announced that it has completed project financing to fund its share of the cost to construct production facilities at the Marco Polo and Gunnison Deepwater fields. Deepwater Gateway LLC, a joint venture owned by El Paso Energy Partners, L.P. and Cal Dive, has secured a $155 million commitment to fund 70 percent of the estimated total cost of the Marco Polo tension leg platform (TLP). As a 50% owner of Deepwater Gateway
Houston-based Cal Dive International established another Gulf of Mexico first when it installed a reeled flowline/riser combination for Kerr-McGee in East High Island block A-379 in 350 ft. of water. Cal Dive utilized its newly established Pipe Spool Base at their Morgan City, Louisiana operational headquarters to: weld, x-ray, sand blast and coat 14,000 ft. of 4.5 in. 337 wall pipe with fusion bonded epoxy. The pipe was reeled directly onto an 28.2 ft
Horizon Offshore, Inc. has entered into a letter of intent with Cal Dive International, Inc. (CDI) to conduct reeled pipelay projects in deepwater areas of the U.S. Gulf of Mexico. The two companies will jointly fund construction of pipelay equipment to be used in conjunction with CDI's dynamically positioned (DP) vessel, the Sea Sorceress, currently undergoing conversion. In addition, Horizon will construct a pipe spooling facility at its Port Arthur, Texas, shore base
Cal Dive International has acquired 85 percent of outstanding Canyon Offshore shares, with the remaining 15 percent to be acquired over the next three years. The acquisition, which is subject to the customary Hart Scott Rodino filing, is expected to close before year-end. Owen Kratz, Chairman and Chief Executive Officer of Cal Dive, stated, "As marine construction support in the Gulf of Mexico moves to deeper and deeper waters, ROV systems will play an increasingly important role."
Cape Wind selects construction joint venture team to build first US offshore windfarm Cape Wind has selected the joint venture team of Flatiron Construction Corp., Cal Dive International, Inc., and Cashman Equipment Corp. as its construction contractor to build America’s first offshore wind farm in Nantucket Sound. Cape Wind President Jim Gordon said, “We are confident this is the right team with the best skills and capabilities to successfully build Cape Wind and create
Helix Energy Solutions Group, Inc. has executed a letter of intent with Allseas Marine Contractors S.A. for the installation of the subsea infrastructure in connection with Allseas' engineering, procurement, installation and construction of Reliance Industries Ltd.'s Dhirubhai gas field development project in the Krishna Godavari Basin in the Bay of Bengal. Helix plans to use its deepwater construction vessel Express and its dive support vessel Eclipse on this project
MODEC International LLC has entered into a letter of intent with El Paso Energy Partners, L.P. for the engineering, procurement and construction of the hull, mooring and production riser system for the world’s deepest tension leg platform (TLP). The TLP is expected to be owned by EPN and Cal Dive International, Inc. and is planned to serve as a production hub at Green Canyon 608 in the Gulf of Mexico initially for Anadarko Petroleum Corporation’s Marco Polo field discovery
As part of its continuing global growth strategy, subsea installation contractor Bibby Offshore has announced the opening of a new division and international base in Houston. The company, that also has bases in Aberdeen, Liverpool, Singapore and Trinidad, has initially invested over £3million into the new division, Bibby Subsea Inc. As part of the expansion plan, Andrew Duncan will relocate to Houston, from his existing position of business and commercial director at the
Houston-based Cal Dive International, Inc. generated a loss for the fourth quarter 2013 of $0.5 million, or $0.01 per diluted share, which compared with a loss in the fourth quarter of the previous year of $19.1 million, or $0.21 per diluted share. Commenting on the results, Cal Dive’s Chairman, President and Chief Executive Officer, Quinn Hébert, stated: “As expected the fourth quarter was our best quarter of the year due to the ramp up in offshore work in Mexico
The Coast Guard and local agencies are searching for at least three people in the Cal-Sag Channel near Palos Hills, Illinois, following a vessel collision late Friday evening. The names of the persons are not being released. Just before 11 p.m
Crews have recovered a third body, Monday, from a collision between a recreational vessel and a barge that occurred late Friday evening in the Cal-Sag Channel near Palos Hills, Illinois. At about 10 a.m., local time, a man's body was recovered about 1.5 miles west of the Worth Boat Launch
Technip was awarded a new framework agreement by Statoil, Exxon Mobil and Gassco for diving, subsea intervention and repair contingency services. Under the terms of this framework agreement, a replacement of an existing frame agreement held for eight years
Coast Guard search-and-rescue crews are searching for a man who went missing during a commercial shark diving venture in the vicinity of West End, Bahamas, Sunday night. Missing is John E. Petty, 63, hometown unknown. Coast Guard 7 District command center watchstanders were
Global Diving & Salvage, Inc. say they have hired John Propeck as General Manager for their Gulf Coast regional office, located in Houston, TX. The company adds that Propeck brings with him over forty-five years of multi-faceted experience in the commercial diving and maritime industry
The MV Blue Star, belonging to Chalong Sea Sports, caught fire and sank in Burmese waters while on a week-long dive trip. All 20 or so people on board are safe, though they lost their belongings, and a great deal of expensive dive gear is understood to have gone down with the boat
Babcock has completed a contract to undertake a substantial refit on Bibby Offshore’s dive support vessel (DSV), Polaris, at its Rosyth dockyard. The project was Bibby’s largest ever refit package and underlines Babcock’s move to expand its role in the maintenance and refitting
Devon Grennan joined Global Diving & Salvage in 1995 and has served many roles. When company founders Tim Beaver and John Graham stepped down from direct operational involvement, Grennan was named CEO. Maritime Reporter & Engineering News caught up with Grennan for his insight into his
Global inspection, repair, maintenance (IRM) and light construction company Harkand informs it has made a key appointment by securing Mike Brown as general manager of diving services in North America. A U.S. Navy veteran, Brown has considerable experience of commercial diving in the offshore
Robert S. Neyland, Ph.D., director of the Underwater Archeology Branch (UAB) of the Naval History and Heritage Command (NHHC) in Washington, D.C., manages the people who protect more than 17,000 ship and aircraft wrecks around the world.
Holland America Line is enhancing the Terrace Grill on its 15 premium ships and rebranding the popular lunch spot as “Dive-In at the Terrace Grill.” The outdoor bistro-style grill area by the ships’ Lido pool will feature new signature burgers, hot dogs and fries.
Houston's Cal Dive International, Inc. has reported a first quarter 2014 loss of $13.1 million, or $0.14 per diluted share, on revenues of $119.1 million. This compares to a loss of $17.7 million, or $0.19 per diluted share, on revenues of $80.9 million for the first quarter 2013
The U.S.Coast Guard medevaced a 52-year-old man from a dive boat approximately 18 miles southeast of Hatteras Inlet, North Carolina, Sunday. The captain of the dive boat Under Pressure contacted Coast Guard North Carolina Command Center watchstanders via VHF-FM at approximately 3 p.m
OceanGate Inc., supplier of manned submersibles says it has made a strategic agreement with Global Diving & Salvage Inc., provider of marine construction & offshore support services in the United States, and an internationally recognized marine casualty responder.
Unique (UH), a division of the Unique Maritime Group (UMG), received its second order this year for its diving daughter craft system called the HYDRACraft. Unique Hydra has spent the past 12months engaging with clients to understand their diving daughter craft operational and equipment