She is now Saipem Constellation and working in AG:
Testing for the future
Combining the capacity of the new Sleipnir (20000 m.t.) and Tialf (14000 m.t.) will give a formidable lifting capacity, but still less than what the Pioneer Spirit is able to handle.
One advantage of this method, with two SSCVs working in tandem, is that the physical size of the lift becomes less important.
With each lifting at the edge, all four cranes can be at short outreach and tie-back, yet position the lift accurately. (It is difficult to design a structure with small enough area to be utilising the full capacity of the cranes when the lifting point is in the middle)
This picture put the size of the 2 x 10000 m.t. cranes on the new Heerema SSCV Sleipnir into perspective:
Here is a video about the assembling of the cranes at Sembcorp’s Mega Yard in Singapore:
The cranes were manufactured at the Huisman yard in China, transported on HLVs in bits and pieces and assembled using Sembcorps own Sheerleg crane L-3601:
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HOS should’ve never got rid of those tug/barge units…bad decision going ‘all in’ for the upstream side of the bizzness. Take a look at the Genesis stock price compared to HOS for the last 4 years…laughable. And, they had the balls to do what HOS failed to do - convert the larger tug/barge units to ATB’s. ALL of those tug/barge units have been on charter since they were sold. And, the day rates have slowly risen over 4 years. I learned at my first easter egg hunt, not 2 put all my eggs in 1 basket.
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It should not be a surprise that a huge, very profitable, cash heavy, pipeline company, like Genesis, would have a much better handle on the oil transport business than a bayou mudboat company that had recently gone public.
It might be that Genisis only got into tug and barge oil transport to compliment and support their pipeline business. As long as the tug and barge operation adds value to the pipeline business, it doesn’t matter whether the tug and barge division is profitable,or not.