Cal Dive Secures Saturation Diving Jobs in Mexico and Australia

Mb50's "Liquid Mud" Rant

Cal Dive International, Inc. announced that it has recently commenced a two-year charter of the DP saturation diving vessel Kestrel to a major contractor in Mexico to perform repair and maintenance work for Pemex.

The charter started in mid-October and has a fixed term of two years with an additional one-year option. The charter is expected to result in EBITDA of approximately $10 million per year during the two-year charter term. The vessel is expected to generate approximately break-even EBITDA in 2012.

In addition, Cal Dive has been awarded three saturation diving contracts in Australia. Two of the projects will utilize one of Cal Dive’s portable saturation diving systems while the third contract will be performed from a third party vessel utilizing a built in saturation diving system. These three contracts are expected to generate total revenue of approximately $20 million during 2013 and the first project is expected…

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Boltight Launches Technology Trial for Customers (UK)

Mb50's "Liquid Mud" Rant

Specialist bolt tensioner manufacturer Boltight Ltd has put together a new tool hire service that allows customers to trial hydraulic bolt tensioners, hydraulic nuts, pumps and ancillary equipment before making a final decision on whether to buy the equipment. The costs of hire can then be offset against the final purchase price.

The ‘try before you buy’ initiative has been launched in response to growing interest from companies from a wide range industry sectors who are contemplating making the switch from older types of legacy tools to the latest bolt tensioning technology.

Offshore oil and gas companies are increasingly using hydraulic tightening systems for subsea applications and working on compact flanges. The tools offer the end user a quick, precise and reliable means of bolt tensioning in difficult conditions, making it much easier to work quickly and achieve even flange and gasket compression.

Boltight’s tools are a popular choice because…

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USA: Gulf Island Fabrication to Build 335 Class Offshore Liftboat for Montco Offshore

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Gulf Island Fabrication, Inc. announced on September 18th 2012, that its subsidiary, Gulf Island Marine Fabricators, L.L.C., signed a contract for the fabrication of a 335 Class, 185 feet long by 135 feet wide by 15 feet deep, offshore liftboat for Montco Offshore, Inc., a marine operator based in Galliano, LA.

When completed, this will be the second 335 Class liftboat the Company has built for Montco Offshore, Inc. Revenue and man-hour backlog related to this project will be included in the Company’s consolidated backlog when the Company announces its earnings results for the quarter ended September 30, 2012.

Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a leading fabricator of offshore drilling and production platforms, hull and/or deck sections of floating production platforms and other specialized structures used in the development and production of offshore oil and gas reserves. These structures include jackets and deck sections of…

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Bollinger’s Vice President to Retire (USA)

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Bollinger Shipyards, Inc. announce the upcoming retirement of its Vice President Central Division, Larry Vauclin.

Vauclin’s retirement was announced by Bollinger Executive Vice President, Ben Bordelon, who said, “Larry has been a critical part of the growth of Bollinger over the past 16 years, and a mentor to many in the shipyard industry over his 52 year career. His attention to detail, hard work and focus on client satisfaction have helped create a solid foundation for us going forward. Larry’s stamp will forever be a part of the Bollinger family history.

Vauclin started his shipyard career in Houma, Louisiana in 1960 with Main Iron Works working as a supervisor until leaving to help start Quality Shipyard in 1969 as yard superintendent, working his way up to executive vice president / general manager for new construction and repair.

His career at Bollinger started in 1996 as vice…

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