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    Hallin Marine invests in ROV fleet

    Vessel & ROV News // September 8, 2008

    Hallin Marine has announced it is continuing to grow its fleet of ROVs with a commitment to invest US$15.3 million in a total of seven new work class machines, manufacturing four of the vehicles itself and purchasing externally the remainder.

    The expansion follows the success of the companyís existing fleet of eight work class and seven inspection class ROVs Ė every vehicle the company has manufactured or purchased has immediately been deployed on profitable projects.

    The companyís first in-house designed and manufactured vehicle, the C-ROV1 (pronounced Sea Rov 1), has now successfully completed more than 100 operational dives while working off of Vietnam and C-ROV2 has been successfully deployed on a Hallin project immediately following the completion of its post-build testing in Singapore.

    Hallinís manufacturing division will now complete the build of C-ROVs 3 and 4 for the companyís operational divisions.

    The board has agreed to the subsequent build of C-ROVs 5 and 6, also for Hallinís own operation.

    In addition, the East Division has placed an order for a Saab Seaeye Panther XT ROV.

    The West Division is currently placing an order that confirms its letter of intent for two Quasar 125 HSP 3,000m ROVs from SMD Hydrovision.

    The funding for the ROVs will be met by a combination of Hallinís internal resources and bank borrowing that has already been fully secured.

     

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