Cal Dive & Fugro Share Charter Party

Cal Dive and Fugro join forces for diving support vessel, 'Toisa Paladin', charter

Cal Dive International has entered into a 50/50 strategic partnership with Fugro for the long-term charter of the DP2 Toisa Paladin, a 2007 purpose built, DNV classed, diving support vessel. The charter party agreement with Toisa Pte Ltd will be shared equally between Cal Dive and Fugro and has a three-year term plus two six-month extension periods.

Cal Dive and Fugro will bring together their respective expertise to jointly pursue the growing number of subsea projects to provide construction, diving, ROV and other services to the offshore energy industry.

The Toisa Paladin is currently working on its first project in Malaysia. Cal Dive also announced that it has entered into a three-year frame agreement with a major international oil and gas operator under which it expects to keep the support vessel utilized through the end of the year.

Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers. Fugro TSM, headquartered in Perth, Western Australia is a subsea contractor offering a range of services to the oil and gas and marine industries.