McDermott Acquires New Pipelay and Construction Vessel
McDermott International, Inc. announced it has acquired the newly built pipelay and construction vessel Amazon to better position the company for ultradeepwater and SURF projects.
McDermott plans to upgrade the vessel to address the ultradeepwater market with a state-of-the-art J-lay system outfitted with the latest vessel technology. In the near term, the company plans to make minor capital expenditure investments to bring the vessel up to company standards. As McDermott finalizes its upgrade plans, the company plans to use the vessel on existing construction and pipelay projects.
Funding for the vessel acquisition has been secured through a sale and leaseback arrangement under which McDermott has control of the vessel in exchange for a daily charter-hire rate. The planned upgrade to the state-of-the-art J-lay system and related financing are expected to be considered in line with market conditions.
Completed in 2014, the Amazon is equipped with 49,514 square feet (4,600 square meters) of deck space complete with two 440-ton (400-tonne) cranes, a service speed of 12 knots and accommodation for up to 200 crew and service staff.