Saipem buys Lewek Constellation

Saipem buys Lewek Constellation

Italy’s Saipem is paying $275m to acquire Lewek Constellation, an ultra deepwater rigid and flexible pipelay, heavy lift and construction vessel.

Stefano Cao, CEO of Saipem, commented: “The Constellation will integrate our offering with reeling capabilities in order to safely and competitively respond to the needs of the subsea tie-back market whose developments are becoming increasingly important as they maximise the utilisation of the existing infrastructures at reasonable expenditures. Saipem was only partially participating in this market and the acquisition of the Constellation bridges this gap, expanding the set of future opportunities”.

Completed in 2013, Lewek Constellation is readily available to be promoted for commercial opportunities and will be marketed in all geographic areas including the Gulf of Mexico and the North and Norwegian.

The vessel was owned by Emas Chiyoda Subsea, which filed for bankruptcy protection in March last year, and has been on charter to Subsea 7 who inherited the vessel when it acquired a number of business belonging to the Ezra Holdings-led company.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.

Related Posts