Nexans and Crowley Wind Services Partner to Develop and Operate First-of-its-Kind Cable Lay Barge
NEW YORK, July 31, 2025 /PRNewswire-PRWeb/ -- Nexans, a leader in the world's energy transition which invested in the U.S. with its subsea transmission cable manufacturing facility in South Carolina, today announces an innovative partnership with Crowley Wind Services, a leading American shipping and logistics company, to develop and operate a Jones Act compliant cable lay barge.
Dedicated to supporting the installation of subsea transmission lines necessary for offshore wind energy, telecommunications and other major industrial applications, this collaboration underscores both companies' commitment to providing solutions for the expansion of U.S. energy sources and other industrial uses that require underwater cabling.
The 300-foot, U.S.-flagged barge, built in Louisiana and tested in the U.S. Gulf to Nexans specifications, will be crewed by American mariners under Crowley's operation. The vessel will play a critical role in laying and burying the subsea cables needed to deliver energy from offshore to the grid onshore. The barge is the first to have vertical injectors along with a dynamic positioning system and a multiple-anchors positioning system, which allow for accurate and efficient cable placement, even in challenging conditions.
The barge boasts a 3,500-ton capacity carousel to lay and bury subsea cable using burial tools such as a vertical injector, a jet sled, or a jetting ROV, with the potential to be upgraded to 7,000 tons with two carousels for bundle cable lay and burial. The barge is positioned to support Equinor's Empire Wind offshore wind farm for New York and can be configured to lay or repair cable for a multitude of other subsea applications.
"This barge will support our existing fleet of cable laying vessels, the Nexans CLV Aurora, Nexans C/S Skagerrak and Nexans CLV Electra, and we are pleased to be working with Crowley on developing the capability to lay nearshore subsea cable in the U.S.," said Pascal Radue, executive vice president of Nexans' PWR-Transmission Business Group, highlighting the significance of the partnership.
"The cable lay barge will provide a productive supply chain solution for offshore energy, telecommunications and other sectors," said Graham Tyson, vice president of operations, Crowley Wind Services. "Coupled with our U.S. maritime fleet and mariners providing feedering services and other logistics and project management capabilities, we could not be better equipped to serve the needs of industries seeking subsea cable solutions."
The vessel will be operated by a crew of U.S. mariners, supporting maritime investment and employment goals.
"AMO is proud to be the leading source for United States Coast Guard licensed officers in the wind farm space. Our long-lasting partnership with Crowley, and our new relationship with Nexans, will help to provide clean, affordable and sustainable energy to millions of Americans and will open the door to future offshore projects," said American Maritime Officers National President Willie Barrere.
"The SIU welcomes this exciting opportunity and looks forward to providing dedicated, well-trained mariners to help ensure the new vessel's success," said Seafarers International Union President David Heindel. "SIU members have sailed aboard cable-laying vessels for decades, so we are more than up to the task. This is a worthwhile project that will boost American shipboard manpower while reinforcing the great importance of the Jones Act, which has protected United States national, economic and homeland security for more than a century.
About Crowley Crowley is a private-held, U.S.-owned and -operated maritime, energy and logistics solutions company. For more than 130 years, its portfolio of businesses has provided innovative ocean and land transportation services for the commercial and government sectors. As a global ship owner and operator, Crowley serves 36 nations and island territories and is one of the leading employers of U.S. mariners. Visit http://www.crowley.com to learn more.
Media Contact
David DeCamp, Crowley, 904-727-4263, david.decamp@crowley.com, www.crowley.com
Torey Vogel, Crowley, 904-726-4536, torey.vogel@crowley.com, www.crowley.com
View original content to download multimedia:https://www.prweb.com/releases/nexans-and-crowley-wind-services-partner-to-develop-and-operate-first-of-its-kind-cable-lay-barge-302518112.html
SOURCE Crowley
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
Americas Gold And Silver Corp (USAS) Q2 2025 Earnings Call Highlights: Silver Production Soars ...
Release Date: August 11, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Americas Gold And Silver Corp (USAS) significantly strengthened its balance sheet by closing a $100 million senior secured debt facility with SAF, providing capital for growth, particularly at the Galena complex. The company achieved a 54% increase in silver production in Q2 2025, producing 689,000 ounces, reflecting strong operational performance. A new 5-year offtake agreement for 100% of Galena's production was secured, providing revenue certainty and improved terms for byproduct credits. The introduction of long hole scoping at Galena has led to higher productivity rates and lower costs, marking a significant operational improvement. The company reported a cash balance increase to $62 million, up by $53 million from Q1, mainly due to the first tranche of the term loan facility and offtake financing. Negative Points Revenue decreased to $27 million in Q2 2025 from $33 million in Q2 2024, attributed to lower zinc and lead production. The company reported a net loss of $15 million, an increase from $4 million in Q2 2024, driven by investments in revitalizing the Galena mine and transitioning to EC 120 at Cosala. Cost of sales per silver equivalent ounce was approximately $28, with cash costs at $26.64 per silver ounce and all-in sustaining costs at $32.89 per silver ounce. The adjusted EBITDA was a $4 million loss, indicating ongoing financial challenges despite operational improvements. The transition to EC 120 at Cosala led to a dip in base metal output, impacting overall revenue despite increased silver production. Q & A Highlights Warning! GuruFocus has detected 9 Warning Signs with USAS. Q: Can you elaborate on the financial impact of the new $100 million senior secured debt facility? A: Paul Hewitt, CEO, explained that the $100 million debt facility with SAF Group significantly strengthens the company's balance sheet. It provides the necessary capital to fuel their growth strategy, particularly at the Galena complex, enabling increased development rates, boosted mining tonnages, and reduced unit costs. Q: What are the expected benefits of the new long hole stoping method at Galena? A: Paul Hewitt, CEO, highlighted that the long hole stoping method offers safety improvements, higher productivity rates, lower costs, increased backfill capacity, and reduced waste. This method allows for drilling and blasting up to 7,000 tons compared to the previous 50-70 tons, marking a significant operational shift. Q: How did the production numbers for Q2 2025 compare to previous quarters? A: Paul Hewitt, CEO, reported a 54% increase in silver production, reaching 689,000 ounces compared to 446,000 ounces in Q1. Galena saw a 34% increase, producing 420,000 ounces, while Cosala in Mexico achieved a 103% increase, contributing 269,000 ounces. Q: What are the financial highlights for Q2 2025? A: Warren Varga, CFO, stated that revenue was $27 million, down from $33 million in Q2 2024 due to lower zinc and lead production. The net loss was $15 million, driven by investments in Galena and the transition to EC 120 at Cosala. However, the cash balance increased to $62 million, supported by the debt facility and offtake financing. Q: What strategic developments are enhancing the company's market visibility? A: Oliver Turner, EVP of Corporate Development, mentioned hosting an analyst tour at Galena and achieving 82% of revenue from silver, surpassing their short-term goal. The upcoming share consolidation aims to expand the stock's investability, potentially enhancing liquidity and attracting larger institutional investors. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24 minutes ago
- Yahoo
Intellinetics Inc (INLX) Q2 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
Release Date: August 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Intellinetics Inc (INLX) successfully renewed a five-year contract with its largest customer, with an additional five-year extension option. The company has rebuilt its backlog with orders that will restore transformation work to historical levels by the end of Q3. Intellinetics Inc (INLX) completed successful testing on a large microfilm conversion project, expected to add revenue in Q4 and beyond. The company has grown revenues at 12.6% in Q2 year-over-year, despite challenges in key vertical markets. Intellinetics Inc (INLX) has paid off $7.6 million in debt and earnouts, positioning itself to invest in sales, marketing, and development for future growth. Negative Points Total revenue for Q2 2025 decreased by 13.6% compared to the same period last year, primarily due to a reduction in professional services revenue. Operating expenses increased by 21.1% in Q2 2025, driven by investments in sales, marketing, and infrastructure. The company reported a net loss of $568,000 for Q2 2025, compared to a net income of $75,000 in the same period last year. Intellinetics Inc (INLX) expects 2025 revenues to be less than 2024 revenues due to weakness in professional services in the first half of the year. Adjusted EBITDA for Q2 2025 was significantly lower at $28,000 compared to $698,000 in the same period in 2024, due to reduced professional services and increased investment spending. Q & A Highlights Warning! GuruFocus has detected 3 Warning Signs with INLX. Q: In terms of the professional services ramping back up to historical levels, should we also model out that margins will be relatively healthy at historical levels or maybe even a little better than historical levels? A: Yes, we expect margins to be a little bit better than historical levels. The June 1 renewal, which includes a 5-year contract with an extension, comes with some price increases embedded, leading to anticipated margin improvement. (Respondent: CFO) Q: How many customers on the home builder side are live, and how many have paused but are expected to go live in the next 6 months? A: Currently, 80% of our customers are live, and the rest are moving aggressively towards live dates. The product has matured over the last year, and customers are satisfied, with many being referenceable. (Respondent: CEO) Q: From this point forward, should we expect double-digit growth in the fast line if nothing else out of the ordinary occurs? A: Yes, the pipeline is strong, and we haven't lost any business. We anticipate a strong fourth quarter, especially with the launch of our payables automation product into the K-12 market and other initiatives. (Respondent: CEO) Q: Has the pipeline for K-12 utilizing the IPA grown, and have more customers gone live? A: Yes, we now have four live customers in the K-12 market, up from three. We are also negotiating upsells and expanding our marketing efforts, expecting significant results in this sector. (Respondent: CEO) Q: Can you talk about any progress being made on entering new verticals or ERP verticals? A: We have a partner manager working diligently on this. We signed Spring Brook earlier in the year, and we are actively calling on new partners to expand our ecosystem. (Respondent: CEO) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
24 minutes ago
- Yahoo
Innovative Food Holdings Inc (IVFH) Q2 2025 Earnings Call Highlights: Revenue Surge and ...
Release Date: August 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Innovative Food Holdings Inc (IVFH) reported a 26.9% increase in revenue for Q2 2025. The company is exiting its cheese conversion business and selling its Pennsylvania warehouse, which is expected to improve cash flow and margins. IVFH's airline catering business grew by 26.1% in Q2, indicating strong performance in this segment. The company launched an AI-driven catalog management platform to accelerate vendor onboarding and catalog growth. IVFH is expanding its business into new regional markets and participating in national food shows to increase visibility and growth opportunities. Negative Points The cheese conversion business was unprofitable and required significant resources, leading to its discontinuation. Gross margin decreased by 294 basis points year over year, primarily due to the cheese conversion business. Selling, general, and administrative expenses increased due to higher payroll and office expenses. The digital channels business saw a 4.9% decline, although this was an improvement from a 6.8% decline in Q1. The company has deferred its name change and uplisting initiatives to focus on operational execution and integration efforts. Q & A Highlights Warning! GuruFocus has detected 5 Warning Signs with IVFH. Q: Why did Innovative Food Holdings decide to exit the cheese conversion business so soon after starting it? A: Bill Bennett, CEO, explained that the decision was difficult but necessary. The cheese business was not reaching the scale needed to justify the expenses of the Pennsylvania facility. Tariff pressures and the departure of a tenant compounded the challenges. The company decided to wind down the cheese conversion and sell the facility to focus on more profitable ventures. Q: How will the closure of the Pennsylvania facility affect the company's core strategy in the Northeast corridor? A: Bill Bennett, CEO, stated that the closure will not negatively impact the core strategy. The airline catering business, which was based there, can operate from anywhere and is actually cheaper to ship from Chicago. The digital channels business, a primary growth driver, will remain unaffected. Q: Is Innovative Food Holdings considering further acquisitions to meet growth goals after the cheese divestiture? A: Bill Bennett, CEO, mentioned that the company is still evaluating the integration of recent acquisitions like Golden Organics and Loco. Depending on the synergies and goals achieved, there may be opportunities for further acquisitions. The focus remains on supporting the broader strategy of being a drop-ship company. Q: What are the expected financial impacts of selling the Pennsylvania facility? A: Gary Schubert, CFO, noted that the sale will eliminate approximately $9 million in debt, significantly strengthening the balance sheet. The company expects some tax impacts, but these will be largely offset by net operating losses from previous years. The sale will also reduce interest expenses and improve cash flow. Q: Can you provide more details on the new AI-driven catalog management platform? A: Bill Bennett, CEO, explained that the platform is in a soft launch phase, allowing vendors to interact more efficiently. The focus is on accelerating item setup, which has already improved significantly. The platform aims to streamline processes and drive business outcomes, with ongoing development to enhance automation and efficiency. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
