Blue Offshore, a specialist subsea construction contractor, have today announced that they have reached financial close on 28 October 2011 with ABN AMRO Bank N.V. The purpose of the financing is the manufacturing of their most recent cable installation system with delivery by 1^st Quarter of 2012.

Blue Offshore assist their customers with innovative standalone and module-based solutions to suit their particular project needs. This installation system will consist of an adaptable modular turntable system with carrying capacity up to 9,000 tonnes, loading arm assembly, tensioners, trackways and associated equipment. This announcement follows the ongoing development and the recognition of current and future market requirements.

“We have seen Blue Offshore  as a unique opportunity to provide financing based on a firm innovative product and covered by a two year contract with a prominent German Subsea Cable Manufacturer. Blue Offshore has shown ABN AMRO that their financial structure,   company vision and strategy, personal  commitment and willingness to perform,  complies with our values to support a starting venture. With this investment we support the upcoming market of Offshore Installation for the coming decade of Renewable Energy. This transaction is unique in its kind because of the innovative character combined with a management team with a vast experience in this rapidly changing market,  said Ellen Jansen-de Boer& Sarah Wilton-Wels of ABN-AMRO Bank.

“ABN AMRO has demonstrated enormous courage and leadership in supporting our development and we are pleased to have reached financial close for this cable installation system. With the development of this modular and flexible system, we are able to support our customers with their current and future market requirements”, said Evert-Jan van Wijk, Operations Director at Blue Offshore.

Det Norske Veritas certify that Blue Offshore BV has been found to conform to the Management System Standard ISO 9001:2008.

DNV ISO 9001 : 2008 Certificate

Blue Offshore and Caley Ocean Systems have signed a letter of intent for the construction of world’s largest carousel. The installation system will consist of an uniquely adaptable modular turntable system, loading arm assembly, tensioners, trackways and associated equipment. The 9,000 tonnes of carrying capacity in its full 32m configuration will make the turntable by far the largest of its type in the world. Delivery is scheduled for Q4 2011. This announcement follows the completion of a 9 month design phase during which both companies work closely with one another to develop a design that was fully optimised for current and future market requirements.

Caley’s Sales Director Gregor McPherson said “We are very pleased to be given this opportunity to continue our longstanding relationship with Blue Offshore. Caley have been successfully building large capacity turntables for the past 15 years, but this exciting project is set to become a new benchmark for the industry.”

“We are delighted to take the next step forward together with Caley as we continue to implement our objective of becoming an innovative and flexible marine engineering contractor. This decision is the result from extensive teamwork and research & development over the last 9 months”, says Gerard Kroese, Director of Blue Offshore.