HEA Energy acquires Seaway7’s heavy transport vessels

Subsea7 has agreed to sell Seaway7’s heavy transport business to UAE-based HEA Energy for an undisclosed sum.

The deal would see HEA take control of six semi-submersible heavy transportation vessels, five owned and one chartered, with completion expected in the first half of 2027.

Subsea7 said the sale will trigger a previously approved EUR105 million (USD117.9 million) special dividend to its shareholders.The deal remains subject to closing conditions, including any applicable regulatory approvals.

HLPFI reported in July 2021 that OHT entered into an agreement to combine its activities and five heavy transport vessels with Subsea7’s renewables business unit, which traded as Seaway7.

This story was originally published by Project Cargo Journal. Read the full story at Project Cargo Journal →