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
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
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."
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
Internatioanl subsea inspection, repair and maintenance (IRM) group Harkand announced the appointment of John Reed as its new chief executive officer as it embarks on the next stage of its ambitious growth strategy. Reed, an industry veteran with more than 30 years’ experience in the offshore engineering and construction sector, will lead the development of the company as it drives forward with its target of growing turnover to $1 billion in the next five years.
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
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
Around 120 families in Batbatan and Maniguin Islands in Culasi, Antique received three sacks of rice and four boxes of assorted dry goods as volunteers from seven different groups conducted relief and medical mission. The group was composed of the personnel from Coast Guard Station (CGS)
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
Bibby Offshore expanded its fleet of North Sea class diving support vessels by signing a contract to charter the DPII DSV Mermaid Endurer from Subtech Ltd. on behalf of Mermaid Offshore Services. The charter will run from April, 2014 for 200 days with extension options and a similar optional
Navy sailors and divers from Mobile Diving and Salvage Unit (MDSU) 2, embarked aboard the Navy's rescue and salvage ship 'USNS Grasp' (T-ARS-51), find and salvage a downed F-16 aircraft off the coast of Virginia. The downed aircraft was one of two F-16 fighter jets from the 113th Wing, D.C
A 33-year-old female diver was medevaced Thursday evening after she experienced decompression issues following her fourth dive, approximately 120 miles off Galveston. The doctor aboard the 96-foot passenger vessel Fling called Coast Guard Sector Houston-Galveston watchstanders at 7:50 p.m
Mermaid Maritime's subsidiary Subtech Ltd. has been awarded a subsea services contract with Bibby Offshore Limited for services in the North Sea. This contract will utilize the DP2 Dive Support Vessel ‘Mermaid Endurer’ for inspection
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
More than 153 years after it was lost in 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.
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