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Cal Dive

Cal Dive Sells Off its GofM Surface Diving Fleet

Image courtesy of Cal Dive

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 Completes Marco Polo and Gunnison Loan Facilities

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 Installs First Reeled Riser In The Gulf Of Mexico

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, Cal Dive Form Joint Venture

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 Buys Canyon Offshore

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."


America's First Offshore Windfarm – Contractors Chosen

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 Receives LOI for Reliance Project in India

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 Awarded TLP for Anadarko Field

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


Bibby Subsea Expands in Houston

Andrew Duncan

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


Cal Dive Cuts Losses In Q4 2013

Image courtesy of Cal Dive

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


Dive Support Vessel Delivered in Brazil

Photo: Incat Crowther

Oceanicasub V, the second of a pair of 43m Monohull Subsea Dive Support Vessels (SDSV), has been delivered for owner and operater Oceanica of Rio de Janeiro for charter by Petrobras. Oceanicasub V was constructed by Arpoador Shipyard in Guaruja’, Brazil


Offshore Vessel Contractors Re-shaping for a Rebound

File photo: BOA

The announcement on the February 28 of EMAS Chiyoda’s bankruptcy is the latest in a long line of vessel contractors to fall victim to the downturn since January 2015. Multiple companies such as Cal Dive, Ceona, Cecon, Hercules Offshore, Harkand and Swiber have entered into administration


Combination Tug & Dive Support for Peruvian Navy

Photo: Cummins

The Peruvian Navy has recently taken delivery of a well-equipped dive support vessel (DSV) from the shipyard Servicios Industriales de la Marina S.A. (SIMA). Designed in-house by the shipyard, the new 4400 HP vessel has significant towing capabilities and can act as a salvage tug.


Consolidation – A Path to Subsea Vessel Sustainability

Graphics: Subsea Vessel Operations expenditure by Sector – 2017-2021. Source: Douglas-Westwood, World Subsea Hardware & Vessel Operations Market Forecast

 In recent years, the speed with which newbuild vessels have entered the market has amplified the subsea vessel demand/supply imbalance, says a report by Douglas-Westwood London.   This has been further exacerbated by sustained low oil prices


Australian Naval Vessels to Become Dive Wrecks

HMAS Tobruk (Photo: Royal Australian Navy)

Decommissioned Australian naval vessels ex-HMA Ships Tobruk and Sydney,will be offered for the creation of dive wrecks, announced Defense Minister Senator Marise Payne.   After decades of invaluable service in the Royal Australian Navy


New Dive Boat for Delaware State Police

Delaware State Police has taken delivery of its new dive boat, a RIBCRAFT 5.85.   RIBCRAFT, manufacturer of professional grade rigid inflatable boats (RIBs), built the 19' RIB for the State Police's SCUBA team to be used in search and recovery missions in the many waterways of Delaware


Capesize Index Weakens

Photo:  Cambiaso & Risso

 Upward moves in the Capesize index are now starting to stall, according to Freight Investor Services (FIS). "Last week we witnessed some short covering in the market which was supported by the technical picture, and this appears to be now drawing to a close," says FIS.  


James Fisher Buys Lexmar

LEXMAR specialises in design and manufacturing of In-Built and Modular SATURATION DIVING SYSTEMS. Photo LEXMAR

James Fisher has acquired the entire share capital of Lexmar Engineering Pte Limited and Lexmar Sat Systems Pte Limited (together 'Lexmar'). Lexmar, which was founded in 1996 in Singapore and a specialist providing diving equipment, will become part of JFD and will enhance JFD's saturation


New Diving Training Ship Delivered to Tunisia

Photo: Franco Ortolani

The Tunisian government has taken delivery of a new training ship, Zarzis A710, which will support diving and security works in air and sea areas of the Mediterranean. The vessel was built by Vittoria Shipyard SpA and commissioned by the Tunisian Defense Ministry as part of the Tunisian-Italian


Damen Bags Jack-up Pontoon Contract

Contract signing Clive Frost and Pascal Slingerland Photo Damen

Damen Shipyards Sharjah (DSS) in the United Arab Emirates has won a contract to build a shallow draught, self-propelled Jack-up Pontoon 3526 for the UAE-based contractor Aqua Diving Services Ltd. Once delivered, it will be used primarily to deliver offshore support services


MTS Expands Fleet With Multipurpose Landing Craft

MTS Terramare (Photo: MTS)

Marine services provider Marine and Towage Services Group Ltd. (MTS) said it has purchased MTS Terramare, a multipurpose landing craft. The vessel enables the delivery of cargo, construction equipment and other materials directly onto land, without the need for dedicated dockside facilities


Global Achieves 10,000 Dives on a Single Project

Photo: Global Diving & Salvage

Global Diving & Salvage, Inc. has surpassed the 10,000 dives on a single project at Olmsted Locks & Dam in Illinois. Tom Cameron, a long-time diver with Global, performed the 10,000th dive.   Wade Miller, Marine Construction Manager with AECOM for the Olmsted Dam Project, said


N-Sea Expands Fleet with OSCV

The Siem Barracuda Photo N-Sea

Subsea IMR provider, N-Sea, has increased its fleet through the long term charter of Siem Offshore’s offshore subsea construction vessel, the Siem Barracuda.   The vessel is equipped specifically for subsea IMR, Survey and construction operations, featuring twin WROVs


New Dive Support Vessel for Technip

Deep Explorer (Photo: Peder Otto Dybvik / Technip)

Technip’s latest newbuild, the diving support vessel (DSV) Deep Explorer, was officially named on Saturday, November 12, in Norway. The traditional naming ceremony was held at VARD’s Langsten shipyard. The vessel godmother was Heidi Brovoll-Bø, wife of Knut Bø


Two New Builds Delivered to Subsea 7

Seven Arctic (Photo: Subsea 7)

Offshore engineering, construction and services company Subsea 7 said it has taken delivery two new builds: a heavy construction flex-lay vessel Seven Arctic and dive support vessel Seven Kestrel, completing its substantial fleet investment program that has added six newly constructed vessels to






 
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