Royal IHC has entered into a memorandum of understanding with Canyon Offshore, a UK subsidiary of Houston-based Helix Energy, to work towards an exclusive arrangement to jointly bring the Hi-Traq trenching vehicle to the market.
Upon conclusion of the agreement between the parties, Canyon would have the exclusive right to use the first Hi-Traq M1600, an asset built for both mechanical cutting and jetting operations. The modular asset would be available either as a standalone trenching spread on a client asset (vessel or barge for shallow water operations) or on board one of Canyon’s class leading construction and trenching support vessels.
The Hi-Traq vehicle has recently completed onshore cutter testing and is entering final commissioning prior to being mobilised for sea trials.
Alongside the co-operation to jointly market Hi-Traq, IHC will be providing further services to Canyon including engineering, modifications and upgrades to existing Canyon equipment. Additionally, both companies will collaborate to utilise existing and new assets to extend the range of services offered from both businesses, involving a wider scope of equipment pushing the businesses forwards in both current and diversified markets.