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
Incat Crowther has entered into a contract to design a 33m Catamaran Dive Vessel for Down Under Cruise & Dive of Cairns, Australia. Construction of the vessel is well underway at Marine Engineering Consultants on Queensland’s Gold Coast.
Harkand informs it has completed the $10.5 million upgrade of its Gulf of Mexico based dive support vessel (DSV) Swordfish. Originally built in 2007, the Swordfish is the youngest DSV in this region. The fully International Marine Contractors Association (IMCA) compliant, ABS classed
Ultra Deep Group (UDS) signed another contract with China Merchants Heavy Industry to build a Ultra Deep Installer – Multipurpose Diving Support Construction Vessel. Even though the oil market remains in the doldrums, Singapore-based UDS is powering ahead with tis strategic plan to
International inspection, repair and maintenance (IRM) company Harkand aims to be a $1 billion company. MR’s Tom Mulligan recently met with John Reed, the company’s CEO, to discuss his vision for the future and how Harkand aims to achieve its goal of being the leading subsea IRM and
Global Diving & Salvage, Inc. announced the expansion of its California regional operations with the addition of a new office in Southern California. Located in Signal Hill near Long Beach, the new office supports Global’s core service lines: marine construction
The DOF Subsea Group has entered into an agreement with Technip for the sale of DOF Subsea’s ownership in the joint venture vessel Skandi Arctic, with immediate effect. According to the company, the transaction is done at market terms and will improve the cash position
Vard Holdings Limited has secured a contract for the design and construction of one diving support and construction vessel for Singapore-based Kreuz Subsea group. The vessel will be of VARD 3 17 design, with a total length of 91.2 meters and a beam of 21
Aqueos Corporation, a subsea services provider for the offshore oil and gas sectors of the Gulf of Mexico and the Pacific West Coast, announced the delivery of SPLASH, a Special Purpose Liveboat and Survey Hull to specifically address safety concerns with traditional methods of Liveboating.
A New Zealand dive operator and skipper have been sentenced for the February 2014 death of a diver struck by a propeller while on a trip to the Poor Knights Islands, Maritime New Zealand announced. Whangarei diving company The Dive Spot Limited has been fined $50
Romica Engineering Ltd (REL) has signed a contract with Shanghai Zhenhua Heavy Industries Co. Ltd. (ZPMC) to provide a triple drum winch and tooling deployment A-Frame system. This will support the overboard deployment and recovery of diver tools supporting subsea work.
North Sea operator Technip UK Limited pleaded guilty to a breach of regulations covering health and safety of workers which lead to the death of a rigger, and has been fined £160,000, the U.K. Maritime and Coastguard Agency (MCA) reported.
Global Diving & Salvage, Inc. has expanded its California Regional operations with the addition of a new office in Southern California. Located in Signal Hill near Long Beach, the new office supports Global's core service lines; Marine Construction, Casualty Response, Offshore Support
U.S. Coast Guard crews locate two missing divers in Gulf of Mexico Two overdue divers offshore from San Jose Island, Texas, were rescued by a U.S. Coast Guard (USCG) helicopter crew Saturday afternoon. The two San Antonio men, Dennis Garrett and Robert Holms
A pair of 43m Monohull Dive Support Vessels has been designed by Incat Crowther, with input from the builder and operator, to meet RINA class requirements for special service, diving and dynamic positioning. The vessels are currently under construction at Arpoadar Engenharia, in Guaruja
Dive and salvage teams worked to remove debris used as anchor blocks by environmental activists protesting Shell’s Arctic drilling aboard a barge in Seattle’s Alki Seacrest Park on May 19. A dive team from Global Diving & Salvage, Inc