McDermott Acquires New Pipelay and Construction Vessel

Photo: McDermott

Posted by Michelle Howard

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.

Feb 21, 2017

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