McDermott acquires deepwater pipelay and construction vessel

McDermott International Inc. has acquired the newly built pipelay and construction vessel Amazon.

Amazon
Amazon

Offshore staff

HOUSTONMcDermott 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.”

02/21/2017

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