Cal Dive Acquires Deepwater Vessel

Cal Dive International, Inc. has acquired a dynamically positioned (DP) marine construction vessel, the Eclipse (formerly the C.S. Seaspread). The 370 X 67-foot vessel is a sister ship to Coflexip Stena Offshore's Constructor and EMC's Bar Protector. She was sold out of the energy services industry into the telecom cable sector in the early 1990s. Following delivery in the first quarter of 2002, CDI plans to restore her original marine construction features by installing a saturation diving system (salvaged from the Balmoral Sea), restoring the ballast system, and upgrading the DP system to DP-2 standards. Terms of the acquisition were not disclosed.

Owen Kratz, Chairman and Chief Executive Officer of Cal Dive, said, "The recent slump in the telecommunications industry made the Eclipse available at an attractive price. The vessel is in excellent condition, having been relatively lightly used, particularly in the last decade when she supported a cable maintenance contract.

"Acquisition of the Eclipse substantially increases the capability of the Cal Dive Deepwater fleet by adding a large mono-hull with significant deck load capacity for subsea construction work. This will enable our converted Sea Sorceress, a DP vessel of similar size and class, to focus primarily upon pipelay and platform support work.

"Purchase of the Eclipse and the Mystic Viking earlier in the year, when combined with the construction of the Q4000 and conversion of the Sea Sorceress, increases the CDI Deepwater fleet from three to seven vessels. Having seven world class DP vessels permanently deployed in the Gulf of Mexico assures our customers of vessel availability and schedule flexibility to meet the technological challenges of Deepwater construction developments in the Gulf as well as international markets such as Mexico and Trinidad."