Cal Dive I - Title XI Inc.

Ship Owners

Cal Dive I - Title XI Inc. was a company that operated in the marine services industry. The company was primarily involved in underwater operations, including the maintenance, repair, and decommissioning of offshore oil and gas infrastructure. Cal Dive I utilized a fleet of specialized vessels and equipment to provide its services. This included diving support vessels, remotely operated vehicles (ROVs), and other marine assets.

The company was part of Cal Dive International, Inc., which at its peak was recognized as a leading provider of manned diving, pipe burial, and saturation diving services. Cal Dive International faced several financial challenges over the years, which ultimately led to restructuring efforts.

Cal Dive I - Title XI Inc. specifically was named in relation to Title XI of the Merchant Marine Act of 1936. Title XI provides for the federal government to guarantee loans and mortgages made for the construction or reconstruction of ships. The affiliation with Title XI likely indicates that the company utilized this federal program to finance its fleet and operations.

However, in 2015, Cal Dive International filed for Chapter 11 bankruptcy due to an oversupply of vessels in the market and declining oil prices, which severely impacted its business model. The bankruptcy led to the selling off of its assets and the winding down of operations.

If you need more specific information or have other questions regarding the history or operations of Cal Dive I - Title XI Inc., please let me know!

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Q4000

Column-stabilised Unit | Flag: United States | Port: HOUSTON, TX

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