Helix sells pipelay vessels

News - October 17, 2012

| More

Helix Energy Solutions Group has agreed to sell its three pipelay vessels, Caesar, Express, Intrepid, and related equipment, in separate transactions, for a total cash consideration of US$252,750,000.

On October 15, 2012, Helix entered into an agreement to sell Caesar, Express and related equipment to Coastal Trade Limited for a total of US$238,250,000.

The sale of these assets is expected to close in two stages as each vessel completes its existing contractual backlog.

The Express closing is expected to occur in February 2013 and the Caesar closing is expected to occur in July 2013.

Helix has received a US$50 million deposit in connection with this transaction which is only refundable in limited circumstances. The closing of this transaction is subject to customary closing conditions.

In a separate transaction, on September 26, 2012 Helix sold its pipelay vessel, Intrepid, to Stabbert Maritime Holdings, LLC for $14,500,000.

Helix will retain its Ingleside, Texas spoolbase facility and provide pipelay spooling services to the market.

Owen Kratz, President and Chief Executive Officer of Helix, stated, “As we previously discussed, our strategy is to aggressively invest and grow our well intervention and robotics businesses. We see the divestiture of our pipelay fleet as an important step in accelerating our corporate strategy.”

 

More articles from this category

More news

Categories

Product Guide

News Letter

Fill in your name, company and e-mail address below for our bi-weekly newsletter.

Subscribe
Unsubscribe

Clarksons

Powered by MARIS.

Subscribe to Offshore Shipping News Online RSS

Follow Offshore Shipping News Online on Twitter

Subscribe to email updates

Sponsors

sponsorsponsorsponsor

Events

FPSO Training Course Paris
01-03 December 2014
France, Paris.

OSEA 2014
02-05 December 2014
Singapore, Singapore.

Brazil Manning and Training
02-03 December 2014
Brazil, Rio de Janeiro.

Dynamic Positioning Seminar
04-05 December 2014
United kingdom, London.

Offshore Shipping Investment Africa
09-09 December 2014
United kingdom, London.

More events