EMGS Diversifies Business with Siem Day Subsea Construction Vessel Buy
Norwegian geophysical services company Electromagnetic Geoservices (EMGS) has established a new business platform within the offshore subsea construction market, having entered into a set of agreements for the acquisition of Siem Day offshore subsea construction vessel (OSCV).A newly formed subsidiary of EMGS will acquire the OSCV Siem Day from the seller Siem Day II, which is a wholly-owned subsidiary of Siem Offshore.The acquisition represents a strategic diversification for EMGS…
Sea1 Offshore Sells 2014-Built Offshore Construction Vessel
Sea1 Offshore, formerly Siem Offshore, has signed an agreement to sell the 2014-built offshore construction vessel (OSCV) Sea1 Spearfish to an independent third party.The sale is done on market terms and will result in a gain of approximately $40 million for Sea1 Offshore, the company said.The vessel is currently on a contract with PXGEO. The remaining firm contract period is reflected in the sale price.Existing debt of $39 million will be repaid following the transaction.The…
Kongsberg Maritime Unveils New Mooring Installation Solution for OSVCs
Kongsberg Maritime has developed a mooring capable solution for Offshore Construction Vessels (OSCVs), expanding the capabilities of construction vessels to make them suitable for pre-laying of mooring lines.By integrating a purpose designed anchor handling winch, shark jaws and stern rollers into the design of OSCVs at the newbuild stage, vessel owners can now equip their ships to perform a broader range of mooring operations, Kongsberg Maritime said.This advancement allows OSCVs to handle more tasks independently…
