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
The California Maritime Academy (Cal Maritime), a campus of The California State University, today announced it has received a three-year, $1 million grant from the Governor's Office of Homeland Security. The money will be used to guide the development and implementation of statewide standards for maritime security training, drills, and exercises for vessels, port facilities, harbors, maritime companies, and other organizations involved in moving freight to and from our nation's
The California Maritime Academy (Cal Maritime), a campus of The California State University, has been selected as the site for the 6th William I. Koch Sea Scout Cup, which will be held from July 22-28, 2012. Named after Florida international businessman William "Bill" Koch, who successfully defended the America's Cup in 1992, the biennial sailing regatta is devoted to young men and women between the ages or 15 and 21 years of age.
Nass Marine Services, a marine division of the Nass Group, handed over a competed project that involved the fabrication of a new deck cargo barge to Ocean Diving & Marine Services that is owned and operated by Mr. Samir Engineer in the Kingdom.
DuraPoly Boats delivered a 10'x32', 100% plastic powerhouse workboat to Back Bay Marine Service. It features a tunnel hull design, a 5,000 crane, is powered by twin 200 Yamaha motors, attains a top speed of 40mph and can run in 12 inches of water.
Aspin Kemp & Associates (AKA) was awarded a contract to supply a Diesel-Electric Power and Propulsion System for Bhagwan Marine’s Dive Support Vessel (DSV) that will be constructed in Singapore. With headquarters in Western Australia
A new dive support vessel (DSV), optimized for operations in the North Sea, will feature three MacGregor offshore cranes, enabling efficient load-handling in the subsea environment. MacGregor, part of Cargotec, secured a new contract for one 120-ton active heave-compensated (AHC) MacGregor
The owners of a Container vessel consulted FN Diving regarding heavy vibrations of the propeller. FN's team attended the vessel for an underwater inspection while offloading in Amsterdam port, and the underwater inspection revealed two damaged and two bent propeller blades due to ice damage on a
Naval Sea System Command's (NAVSEA) Supervisor of Salvage & Diving (SUPSALV) continues to support the removal of the wreck. Guardian ran aground on the coral reef Jan. 17, while transiting the Sulu Sea. After the initial grounding, strong winds pushed the mine counter-measurees ship parallel
Patrick Keenan has joined the TITAN Salvage team as director of operations, bringing more than 20 years of worldwide, hands-on experience in naval architecture, marine engineering, salvage and marine pollution abatement. In his new position, Keenan will report to Managing Director Rich Habib and
Cal Dive International awarded an EPIC contract by Pemex Exploración y Producción; updates Q1 2013 expectations. The contract is for the engineering, procurement, installation and commissioning (EPIC) of 12 kilometers of eight-inch subsea pipeline and associated tie-ins on four
In the early days of subsea technology, there were a number of pioneers: men and women who stepped over the edge of what we knew about the underwater world. These individuals left the comfort of solid ground to explore beneath the waves and report back to the rest of us what they had seen
Unique System FZE, a Unique Maritime Group company which is an integrated turnkey subsea and offshore solution providers signs a joint venture with the National Hyperbaric Center (NHC) to launch a training center and training courses in the UAE.
N-SEA charters DP2 DSV 'Northern River' from Serco’s Marine Services for the 2013 season, equipped for its expansion in the subsea IMR market. N-SEA will install a compliment of ROV's onboard including a high powered WROV and 2 SubAtlantic Mohican Inspection class ROV’s and
Offshore equipment and operating practices are routinely improved in the constant quest for ever-greater levels of safety and efficiency. The International Marine Contractors Association’s (IMCA) newly published ‘Diving Equipment Systems Inspection Guidance Note (DESIGN) for
This guideline by the Canadian Association of Diving Contractors (CADC) provides a basic understanding of the forces and hazards associated with Delta P. The Canadian Association of Diving Contractors (CADC) recently published definitive guidance for divers working in differential pressure
San Francisco Bay area-based Moose Boats recently delivered a new M1-46 Catamaran Dive Boat to Los Angeles Police Department. At 46 feet in length, the M1-46 is the largest vessel of the Moose Boats fleet to date. The M1-46 all aluminum catamaran, with a maximum speed of 38 knots
Global Diving & Salvage, Inc. was contracted to remove the fin whale that had washed up on the Seahurst Park beach in Burien, WA. Global removed the carcass and prevented its further decomposition in the city park. On April 13, several reports were made to the U.S