And just when I though OCLLC was about to sell out

comes this news

Candies newbuild to have Siemens diesel-electric solution

SEPTEMBER 29, 2014 — A 107 m x 22 m Subsea Support & Construction Vessel (SSCV) being built by Otto Candies LLC at its Candies Shipbuilding yard in Houma, LA , is to have a Siemens Blue Drive Plus C low voltage diesel electric propulsion (DEP) solution.

Announcing the award of a $6 million integrated propulsion solutioncontract, Siemens Industry said its solution improves reliability due to failsafe features that will increase fuel efficiency and provide ultra-low THD on the vessel’s main 480V power distribution system along with overall safety and ease of operation for the vessel and crew, reduced maintenance costs and more efficient operation of the propulsion system.

The Siemens package will also include the main generators, vessel automation (IAS400), LV switchboards, energy management system, Siemens Blue Drive Plus C drives, main propulsion and tunnel thruster motors.

“Siemens is committed to the growing demand in the marine industry. Products and systems such as our Blue Drive Plus C, integrated alarm system (IAS 400) and integrated energy management system (EMS300) provide owners and operators with advanced technologies giving them the most fuel efficient, safe and productive vessels possible,” says Doug Keith, president, Drive Technologies division, Siemens Industry.

Being built to the MT6020 design by Norway’s Marin Teknikk, the Candies vessel will have a 250-ton active heave compensated crane capable of reaching 4,000 m water depth, accommodations for 110 personnel and a working moonpool. The vessel will also be outfitted with two remotely operated vehicles.

interesting that the rendering of the ship appears to be Brazil but I am sure that is meaningless. I am sure the vessel will be in the GoM.

btw, the selling out rumor I have heard is that they are being courted by HGIM these days but cannot agree on a price. Anyone hearing the same buzz?

Yay more 10,000 itc jobs! Joe Boss does it again HUZZAHHHHH!

my buds who are the longest serving Candies hands will be her captains I am sure…30+ years there, no pension and they still have a weed patch parking lot for crew behind a chain link fence

swamp billionaires!

.

30+ years no pension a house and land payed for years ago. Pays cash for brand new 4x4 trucks to park in the weed filled parking lot. Owns a $300k motor coach with duck dynasty vanity plates. Probably has a 401k with $500k+ in it. Paid cash for several kids to go to college. I haven’t met to many of these old coonass captains with 30 years in that ain’t doing ok. Cost of living is cheap down here. With these big raises we got they prolly maxed out 401k contributions and still live large.

Nothing wrong with being a wealthy stumpjumper.

Any official name yet for this vessel? The Paul Candies?

is this ship a sister to the Oceaneering Vessel being built in Mobile?

http://www.workboat.com/Online-Features/2013/BAE-to-build-subsea-support-vessel-for-Oceaneering-International/

Looks like the oceaneering one is the MT6022 design and this candies one is an MT6020. Looks like a few differences in the photos such as another smaller knuckle boom, 4 small life boats vs. 2 large. Probably a few other things. Size is about the same.

[QUOTE=GLMASailor;145194]Looks like the oceaneering one is the MT6022 design and this candies one is an MT6020. Looks like a few differences in the photos such as another smaller knuckle boom, 4 small life boats vs. 2 large. Probably a few other things. Size is about the same.[/QUOTE]

I thought they looked very similar…

[QUOTE=c.captain;145163]comes this news

interesting that the rendering of the ship appears to be Brazil but I am sure that is meaningless. I am sure the vessel will be in the GoM.

btw, the selling out rumor I have heard is that they are being courted by HGIM these days but cannot agree on a price. Anyone hearing the same buzz?[/QUOTE]

HGIM would be crazy to try and buy anyone else at this time. Their operational structure is nowhere near what it needs to be to survive its current setup much less more specialized equipment. I think if a move as such was done the wheels would fall apart fairly fast, just my opinion. Look at the chaos created by purchasing the ACO fleet of boats, and those were simple vessels.

[QUOTE=Saltine;145246]HGIM would be crazy to try and buy anyone else at this time. Their operational structure is nowhere near what it needs to be to survive its current setup much less more specialized equipment. I think if a move as such was done the wheels would fall apart fairly fast, just my opinion. Look at the chaos created by purchasing the ACO fleet of boats, and those were simple vessels.[/QUOTE]

Yet, if Bubba Shane and his moneymen in NY wanted to go IPO soon, you’d think they’d want to pump up the book value of the company as much as they could, take the cash from the share sale and pay off all the debt at the same time cashing in all those millions and millions of shares they awarded themselves already?