Subsea 7 to acquire remaining stake in Seaway Heavy Lifting

Subsea 7 to acquire remaining stake in Seaway Heavy Lifting

Subsea 7 has announced that it has made an offer to acquire 50% equity interest in Seaway Heavy Lifting Holding from K&S Baltic Offshore.

Netherlands-headquartered Seaway Heavy Lifting is a specialist offshore contractor and operates two heavy lift vessels. It is a 50/50 joint venture between Subsea 7 and K&S Baltic Offshore

Seaway Heavy Lifting would become a wholly owned subsidiary of Subsea 7 upon completion of the deal.

“Subsea 7’s strong market position in offshore energy services is complemented by Seaway Heavy Lifting’s expertise in three areas of offshore activity: renewables, heavy lifting operations and decommissioning of oil and gas assets.  We believe that this acquisition will allow us to strengthen Subsea 7’s position in businesses where we expect increased activity and opportunities for long term growth,” said Jean Cahuzac, CEO of Subsea 7.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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