Highlights of the Week

Subsea World News has put together a recap of the most interesting articles from the previous week (May 04 – May 10).

A new subsea company was launched at OTC in Houston today May 4, 2015. Underwater Integrity Solutions (UIS), headquartered in Houston, is an independent company focused on underwater integrity, production assurance and life extension for subsea fields.

HitecVision has committed $150 million of equity to finance the build-up of the company. UIS has been established by five subsea industry leaders with over 140 years’ combined global experience.

An expedition to survey the historic World War II shipwrecks of HMAS Sydney (II) and the German raider HSK Kormoran has produced new photographic evidence which appears to confirm why Sydney was so quickly disabled, leading to catastrophic damage and the devastating loss of everyone on board.

New high resolution images taken two days ago by Curtin University on board DOF Subsea’s vessel Skandi Protector clearly shows, for the first time, a 15cm shell hole through the bridge at the compass platform.

Ulstein has reported that at Hyundai Heavy Industries, the ‘Toisa Patroklos’ vessel is nearing completion.

The multipurpose offshore construction vessel, a customized Ulstein Deepwater Enabler design, is the largest vessel built featuring the patented X-BOW and the first to be built in Korea. It was launched in March 2015 and scheduled for completion in summer 2015.

James Fisher has acquired of the entire share capital of Mojo Maritime Limited (MML).

According to reports, the initial consideration is £3.2m in cash, plus potential future consideration of £0.3m if the earnings before interest and taxation are £0.65m or greater for the year ending 31 December 2015.

CEO and managing director of the Singapore-listed offshore O&G contractor Ezra Holdings, Lionel Lee, has stepped down from his positions on the board, of EMAS Offshore and Triyards Holdings.

According to EMAS Offshore, Lee’s resignation as a director and the vice-chairman of the company is with effect from May 1, 2015. As for the Triyards, Lee stepped down from the board, together with Chan Eng Yew and Andrew Mak Yeuw Wah and will be replaced by his father Lee Kian Soo as the new non-executive chairman. Lee was later appointed chairman of Ezra’s subsea division EMAS AMC.