Raymond International Buys 600-Foot Crane Ship For $34.5 Million

A unit of Raymond International Inc., Houston, Texas, recently purchased a crane ship from an Italian firm for $34.5 million, according to Henry F. LeMieux, chairman and chief executive officer.

Mr. LeMieux said that Raymond Offshore Constructors, Inc., a wholly owned subsidiary, concluded the purchase of a large crane ship from Micoperi SpA. The ship, renamed "Sirius," is already in the Gulf of Mexico and working under a contract from a major oil company.

The purchase is being financed by a consortium of U.S. banks that has entered into an interest support agreement with Mediocredito Centrale, an agency of the Italian Government, for 80 percent of the cost at 6.5 percent interest over five years.

The 600-foot-long and 116-footwide ship is equipped with a 360- degree revolving crane that has a 2,000-ton lifting capacity over the bow and an 1,800-ton revolving lifting capacity.

offshore chief executive officer executive officer contract company international support government officer executive chairman mexico Houston