Highlights of the Week
- Business & Finance
Subsea World News has put together a recap of the most interesting articles from the previous week (February 13– February 19).
Under the contract Oceaneering will provide eight work-class remotely operated vehicles (ROVs), survey and associated services, including subsea tooling, engineering, communication and data solutions.
These ROVs will be installed onboard six Mærsk newbuild vessels
Ocean Yield said that it served a notice of termination in order to protect the company’s legal interest.
The company will however continue to participate in the discussions regarding the financial restructuring of ECS.
REM became part of Solstad Offshore in December last year, creating a fleet of 61 vessels including 26 CSVs, 16 AHTSs and 19 PSVs.
The sale would be effective upon the completion of the existing contract, and delivery to Fugro will take place during Q2 2017.
Roderick A. Larson, who currently serves as Oceaneering’s president, has been designated to succeed McEvoy immediately following the company’s 2017 annual meeting of shareholders, scheduled to be held on May 5, 2017.
McEvoy will continue on Oceaneering’s board as a class III director until at least May 2019.
The contract will start on March 01, 2017 and has a duration of three years firm plus two yearly options.
The company did not disclose the commercial terms of the contract.
Normand Poseidon, formerly known as ‘REM Poseidon’, joined Solstad fleet as a result of Solstad-REM Offshore merger.