McDermott acquires deepwater pipelay and construction vessel
McDermott International Inc. has acquired the newly built pipelay and construction vessel Amazon.
HOUSTON – McDermott International Inc. has acquired the newly built pipelay and construction vessel Amazon.
The company says that it plans to upgrade the vessel to address the ultra-deepwater market with a J-lay system and 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 whichMcDermott has control of the vessel in exchange for a daily charter-hire rate.
Completed in 2014, theAmazon is equipped with 49,514 sq ft (4,600 sq m) of deck space complete with two 440-ton (400-metric ton) cranes, a service speed of 12 knots and accommodation for up to 200 crew and service staff.
David Dickson, president and CEO of McDermott, said: “This is a great opportunity for the company to expand the technical capabilities of our global fleet and grow in thedeepwater and SURF [subsea, umbilicals, risers and flowlines] markets and greatly increase our ultra-deepwater project coverage.
“Due to current market conditions and the opportunistic nature of the transaction, we were able to acquire what is essentially a new, enabling asset at a fraction of the original build cost.”