01.06.2007

5,000 tonne ship crane

Seaway Heavy lifting, the joint venture between Acergy the Merwede shipyard in the Netherlands, has ordered a new 5,000 tonne revolving heavy lift ship crane, with Class 3 dynamic positioning.

The massive crane will have a 183 metre long innovative mono-hull design for which a patent is pending. The design will give the vessel a transit speed of 14 knots.

The ship/crane will have accommodation for up to 395 people.

The crane/ship will cost $460 million which will be financed by $110 million equity split 50/50 between the two partners with non-recourse financing comprising a Revolving Credit and Guarantee Facility of $30 million and a €140 million plus $180 million Buyer Credit Facility arranged and underwritten by ING and covered by Atradius (Dutch Export Credit).

Delivery is planned for early in 2010.

The Seaway Heavy Lifting joint venture was formed in 1991 to operate the crane vessel Stanislav Yudin, an anchored 2,500 metric tons lift capacity crane vessel that has installed offshore oil and gas platforms and sub sea structures in the North Sea, the Mediterranean, Mexico, the Middle East and India.

Bruno Chabas, chief operating officer of Acergy, said “The project is well advanced with basic design, which started in mid 2005, now completed, long lead items on order and work now progressing with the construction contract.

With a 5,000 metric tons revolving lift capacity and fast transit speed, this new vessel will expand our global reach and enable our clients to develop their offshore fields more economically.”

The charter of the Stanislav Yudin to the JV will also be extended.”