Cal Dive Nets International Contracts

Press Release
Friday, October 19, 2012
'Kestrel': Photo credit Cal Dive

Cal Dive International charters out diving vessel & also wins 3 Australian saturation diving contracts.

The company's diving vessel Kestrel is chartered to a major contractor in Mexico to perform repair and maintenance work for Pemex. The charter started in mid-October and has a fixed term of two years with an additional one-year option. The charter is expected to result in EBITDA of approximately $10 million per year during the two-year charter term. The vessel is expected to generate approximately break-even EBITDA in 2012.

In addition, Cal Dive has been awarded three saturation diving contracts in Australia. Two of the projects will utilize one of Cal Dive’s portable saturation diving systems while the third contract will be performed from a third party vessel utilizing a built in saturation diving system. These three contracts are expected to generate total revenue of approximately $20 million during 2013 and the first project is expected to commence in the first quarter 2013.

Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, “We are pleased to announce the saturation diving contracts in Australia and the charter of the Kestrel in Mexico. Both awards demonstrate the continued execution of our strategy to geographically diversify outside the U.S. Gulf of Mexico. The charter of the Kestrel is also consistent with our strategy to commit certain assets to long-term contracts that improve visibility."

Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and platform salvage services to the offshore oil and natural gas industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast Asia, China, Australia, the Middle East, West Africa and the Mediterranean, with a diversified fleet of surface and saturation diving support vessels and construction barges.
 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Algoma Central Orders New Great Lakes Ships

Algoma Central Corporation announces $160 million investment in fleet expansion and fleet renewal   Algoma Central Corporation announced that it has acquired

Russia, France Close to Deal on Mistrals

Russia and France are close to reaching an agreement for Paris to cancel a frozen contract on the sale of Mistral helicopter carriers and reimburse Moscow, a Russian

Horizon's Hawaii Business Acquisition Cleared by DOJ

Horizon Lines, Inc. reported yesterday that, after a review by the Antitrust Division of the Department of Justice, Horizon's proposed sales transaction with The

Offshore

OSV Technology: Notable Designs & Deliveries

Though the market for Offshore Support Vessels (OSVs) is soft, advances in technology, fit and finish in  the sector is unrivaled in any other maritime niche over the past five years.

Four Petrobras Platforms Halt Output Due to Oil Leak

Four Petrobras oil platforms off the northeast coast of Brazil have halted production after a leak of about 7,000 liters of oil was detected coming from a pipeline linking them,

Gondan Lays Keef for IMR Oceanographic Vessel

Gondan Shipyard has celebrated at its facilities in Figueras the keel laying ceremony of the new Oceanographic Research Vessel for the Institute of Marine Research (IMR) of Bergen, Norway.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2338 sec (4 req/sec)