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, CDI will fund the first $33 million of construction cost, at which point the joint venture will draw upon the loan facility. Repayment, which will begin after delivery of the TLP, consists of Cal Dive paying 20 quarterly installments of $2.75 million and a balloon of $22.5 million due in 2008. The facility is secured solely by the TLP and is non-recourse to CDI except for the company's guarantee of the balloon payment. The interest rate during construction is LIBOR plus 1.75%; once the TLP is in production the rate will range from LIBOR plus 1.50% to 2.00%, depending upon certain leverage ratios of Deepwater Gateway. El Paso Energy Partners led placement of this facility with a nine bank consortium. Earlier in the month Cal Dive completed restructuring the existing $67.0 million project financing for its share of the construction cost of the Gunnison spar. In essence, the company converted the existing facility to a $35 million term loan payable in 11 quarterly installments of $1
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
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."
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
Aluminum Catamaran from Kvichak Marine California Fish & Game recently took delivery of P/V Thresher, a 54 ft. all-aluminum catamaran, designed by Teknicraft of Aukland, New Zealand, and built by Kvichak Marine, of Seattle, Wash. The partially foil-supported catamaran will be stationed in Dana Point as a Fish and Game Marine Enforcement patrol vessel for Southern California. The cat's beam is 20.2 ft., and weighs nearly 28 tons fully loaded
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
Vard Holdings says it has secured a contract with a new customer, Harkand Group (Harkand), for the design and construction of a Diving Support and Construction (DSC) Vessel. The value of the contract exceeds NOK 1 billion. The vessel is scheduled for delivery from Vard Søviknes in Norway
The acquisition of the subsea business of Stork Technical Services in Aberdeen is a next step in the realization of the growth strategy pursued by both companies and reaffirms the commitment of N-Sea to its strategy of becoming a leading Survey and IMR company, N-Sea said.
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
Lost after a violent collision at sea, government and university maritime archaeologists have identified the wreck of the ship 'Robert J. Walker', a steamer that served in the U.S. Coast Survey, a predecessor agency of NOAA. Twenty sailors died when the Walker sank in rough seas in the early
Calibration is necessary before the installation of an AC- operated linear position sensor to ensure accuracy. Calibration corrects any slight variances between sensors, helping to improve repeatability. Because of the linearity of LVDT Sensor output, a simple two-point calibration is simple
Faced with a challenging decision between draining Apache Lake or trying a unique underwater diving method to repair the damaged intake structure for Horse Mesa Dam’s hydroelectric units, Hydro Generation engineers at Salt River Project chose the latter rather than the former
According to Xinhua, Chinese scientists launched a program to build a new manned submersible expected to dive as deep as 4,500mand capable of carrying out scientific research. The program was revealed by Hu Zhen with China Shipbuilding Industry Corporation
Simulators are used increasingly in the marine contracting industry, in particular for training and competence purposes, but also for work planning/mission planning purposes including engineering development, procedure development, technical assessments, research and asset risk assessment
Crowley Maritime Corporation awarded three Thomas B. Crowley, Sr., Memorial scholarships to California Maritime Academy (Cal Maritime) students Andrew Leonard, Jeff Harcq and James McSweeney during the 2013 Containerization and Intermodal Institute’s Connie Awards dinner in Long Beach, Calif
U.S. Coast Guard Sector Hampton Roads investigators received confirmation last month that Administrative Law Judge Michael Devine agreed with the Coast Guard's arguments in a case against a local dive boat operator, resulting in the suspension of a dive boat operator's mariner credentials.
An East Valley couple vacationing to celebrate their first anniversary found themselves abandoned in the ocean, after a dive trip went wrong off the coast of Thailand, reports KHOU.com, Houston, Texas. Lexa and Jake Mendenhall recently became certified scuba divers
After two years of construction, the upgraded Royal Australian Navy (RAN) Diving School and the Submarine and Underwater Medicine Unit (SUMU) have been officially opened at a ceremony at HMAS Penguin. Deputy Chief of Navy Rear Admiral Michael van Balen
Built in 1945, the 141-foot steam powered tugboat was utilized by the Atchison, Topeka, and Santa Fe Railroads. Originally named the Edward J Engel, it moved railroad car barges from Oakland to San Francisco until 1969. After which she passed through several hands and eventually her name was
Naval Sea Systems Command (NAVSEA) and Southwest Regional Maintenance Center (SWRMC) divers recently completed the first full underwater waterjet seal and evaluation on a littoral combat ship (LCS), USS Fort Worth (LCS 3), the Navy announced, Jan. 2.