Marcon Announces Sale of 175-ft. Diving and Maintenance Vessel

Tuesday, February 20, 2001
Marcon International, Inc. of Coupeville, Wash. reported that the Estates of TransCoastal Marine Services of Houston, Texas have sold the 4-point mooring vessel Sea Level 21 to Professional Divers, Inc. of New Orleans, La.

The 175- x 38-ft., ABS-classed former supply boat was originally built in 1980 by Universal Iron Works and was converted several years ago to support hydrostatic pipe testing and commissioning, jetting, diving, and coring service. Professional Divers has renamed her 4 Point Pony, and with assistance from Bollinger's Lockport shipyard, are refurbishing the vessel and expect to have her ready for service by early March.

Last year the TransCoastal divisions HBH, Inc., Woodson Construction Company and the Kori Corporation were sold to Sunland Construction, Inc., of Eunice, La. Additionally, CSI Hydrostatic Testers of Lafayette, La. was sold to Weatherford International of Houston, Texas. A total of 40 vessels and barges were included in the sale of the divisions.

Since the 1960's, TransCoastal's pipeline and marine group specialized in the installation, repair and rehabilitation of pipelines both on and offshore worldwide plus hydrostatically tested pipelines and provided construction support services through marsh and swamp environments to onshore facilities.

Major assets remaining include the 270-ft. dynamically positioned multi-service construction/bury vessel Discovery; the 350-x 60-ft. pipelay barge Vermillion Bay; the 260- x 72-ft. pipelay/bury barge BH-400; the 256- x 72-ft. bury barge Atchafalaya Bay; and a 3400-ton floating drydock.

Marcon was retained as exclusive broker by the Bankruptcy Trustee in June 2000 to assist in the disposal of the marine assets.

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