So does this mean that CalDive will now acquire some newer vessels?

they sure need them!

[B]Cal Dive Sells Shallow Water Diving Fleet[/B]

By Rob Almeida On June 3, 2014


Midnight Dancer, one of Cal Dive’s 4-point DSVs, image courtesy Cal Dive

Cal Dive has come a long way since its founders pioneered mixed gas diving in California’s offshore oilfields back in the early 1960s at incredible risk to their own personal safety. Risks that made possible the massive offshore drilling rush that subsequently followed and gave rise to companies such as Oceaneering and Helix Energy Solutions Group.

The company announced today the sale of its U.S. Gulf of Mexico-based shallow water surface diving fleet to a privately held company for cash of $18.5 million and a 19.9% minority interest in the entity acquiring the assets. Utilization of Cal Dive’s fleet of surface diving vessels has averaged 24 percent over the past 6 months.

With the agreement however, the unnamed buyer has the exclusive right to provide any surface diving services required by Cal Dive in the U.S. Gulf of Mexico to support pipelay, decommissioning, platform installation and other integrated services.

Included in the sale are eight surface diving vessels and miscellaneous inventory and equipment.

Quinn Hébert, Chairman, President and Chief Executive Officer of Cal Dive, commented today on the agreement:

“This transaction is part of our ongoing efforts to concentrate our financial and other resources on key strategic initiatives. These include our U.S. Gulf of Mexico saturation diving, pipelay and decommissioning and salvage operations and our construction and diving services in key international markets such as Mexico, Australia, Southeast Asia and the North Sea.”

The majority of the shares of Cal Dive International are owned by Helix Energy Solutions Group, a company led by former North Sea saturation diver Owen Kratz. Helix ESG spun off Cal Dive’s shallow water marine contracting capabilities as a separate entity in February 2006.

can someone tell me if the KESTREL still stacked?

I read this story earlier this morning. I didn’t even know they had 8 surface vessel. I can only think of three or four.

well they had their US flagged anchor boats plus their foreign flagged DP vessels KESTREL, MYSTIC VIKING and UNCLE JOHN in the GoM which like the anchor boats are all bloody ancient antiques which likely even countries Mexico or Nigeria would reject!

CalDive’s been struggling for the past couple of years. Haven’t had any major storms chew up the gulf to put their boats to work. They sold off several of their smaller boats a couple years back and now selling more. They leased out most of their dock on Slip B in Fourchon. Their stock has plummeted crew leaving in droves.

[QUOTE=c.captain;138559]can someone tell me if the KESTREL still stacked?[/QUOTE]

Looks to me that the Kestrel is working some IRM in Mexico right now. Also with this whole sale thing, it looks like the money was put forth by an investment firm to buy the boats. I have been hearing DeepCor Marine as being the company that bought them. Some new Startup. Judging from Linkedin, a bunch of the higher up guys who list DeepCor Marine as their employer are all ex-Cal Dive.

[QUOTE=c.captain;138559]

can someone tell me if the KESTREL still stacked?[/QUOTE]

From what I see, the Kestrel is working for Pemex. Also the company that bought the diving vessels is rumored to be a new start up by the name of DeepCor Marine, whose leadership is made up of some ex-Cal Dive guys.

Kestrel is currently working in Mexico. Rumor has it the company that bought these vessels is Deepcor Marine.

Stone Buccaneer tied up at the old Cal-Dive dock in slip b the other day and was calling it the new Stone dock.

Oops, Sorry for the multi-reply. The forums weren’t logging my posts for whatever reason.

SomeGuy, you are correct. From what I know, there are some Cal Dive people that just got new business cards…

Did not hear if they were looking into new vessels. I “think”, alothough I could be wrong, dont they still have the Samson (or Goliath) on charter? It was working in Mexico, but I know it was recently in Pensacola.

Is deepcor the company that bought the eclipse and sunk it in singapore…

[QUOTE=powerabout;139410]Is deepcor the company that bought the eclipse and sunk it in singapore…[/QUOTE]

no…that was Stabbert Maritime out of Seattle although I do not believe they wanted that to happen. It was the shipyard’s fault is my understanding.

[QUOTE=c.captain;139419]no…that was Stabbert Maritime out of Seattle although I do not believe they wanted that to happen. It was the shipyard’s fault is my understanding.[/QUOTE]
I know one of the lawyers but last time I asked it was ongoing, dont think it was clear cut issue, crew were involved…I’ll find out

[QUOTE=powerabout;139456]I know one of the lawyers but last time I asked it was ongoing, dont think it was clear cut issue, crew were involved…I’ll find out[/QUOTE]

Please do…I would love to know more about that sinking

[QUOTE=c.captain;139457]Please do…I would love to know more about that sinking[/QUOTE]
There was a large doorway cut into the hull so the yard had access then the vessel was ballasted and this door went under water…

[QUOTE=powerabout;139458]There was a large doorway cut into the hull so the yard had access then the vessel was ballasted and this door went under water…[/QUOTE]

I had heard that…so was the ballasting done by the crew and not the yatd?

It was the same company that had the KENDA sink in Mexico under dubious circumstances

Never have thought much of Dandy Danny

The earnings report came out for Cal Dive today, their stock hit a low of $0.68! Hopefully these guys can turn it around! Looks like this quarter was a killer for them, but it seems like a lot of people have been having trouble in the gulf this spring/summer.

Does anyone know what happened to the caldiver 2 ?