TechnipFMC offloads pipelay vessel

Offshore engineering specialist TechnipFMC has entered into a memorandum of agreement to sell its 2011-built pipelay vessel Global 1201 as part of its overall strategy to optimise the profile and size of its subsea fleet.

The MOA also includes a collaboration agreement with the buyer that would provide five years of exclusivity for a list of named subsea projects in a specific jurisdiction.

“Following the recent announcement of the company’s alliance agreement with a best in class partner for pipeline installation using S-lay technology, this supports the company’s intent to use collaboration agreements, where possible, to execute its differentiated iEPCI business model,” TechnipFMC said.

According to shipbroking sources, the buyer of the vessel is Indonesian engineering firm Timas Samudera.

The company expects to complete the sale in December.

TechnipFMC currently owns a fleet of nine vessels, made up of six pipelayers and three dive support vessels.

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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