VESSELS AND OTHER OPERATING ASSETS
−Removed: As of December 31, 2023, our fleet included 26 owned vessels, eight IRSs, three SILs, the ROAM, 20 P&A systems, six CT systems, 39 ROVs, seven trenchers and the IROV boulder grab.
+Added: As of December 31, 2024, our fleet included 26 owned vessels, eight IRSs, three SILs, the ROAM, 20 P&A systems, six CT systems, 39 ROVs, six trenchers and two IROV boulder grabs.
We also had seven vessels under time charter agreements.
13 unchanged sentences
20 P&A systems and 6 CT systems
−Removed: 39 ROVs, 7 Trenchers and the IROV boulder grab (4), (8)
+Added: 39 ROVs, 6 Trenchers and 2 IROV boulder grabs (4), (8)
Grand Canyon II (5)
Grand Canyon III (5)
−Removed: Horizon Enabler (5)
+Added: North Sea Enabler (5)
Shelia Bordelon (5)
3 unchanged sentences
ABS, BV, DNV and Lloyds are classification societies used by vessel owners to certify that their vessels meet certain structural, mechanical and safety equipment standards.
−Removed: (2) Represents the date we placed our owned vessels in service (rather than the date of commissioning) or the date the charters for our chartered vessels commenced, as applicable.
+Added: (2) Represents the date we placed our owned vessels in service (rather than the date of commissioning) or the date the original charters for our chartered vessels commenced, as applicable.
(3) Subject to a vessel mortgage securing our MARAD Debt described in Note 7.
−Removed: (4) Serves as security for the ABL Facility described in Note 7.
−Removed: (5) Vessel under time charter agreement.
+Added: (4) Serves as security for the Amended ABL Facility described in Note 7.
+Added: (5) Vessel under a time charter agreement.
(6) We own a 50% interest in the ROAM and three of the IRSs.
2 unchanged sentences
(8) Average age of our Robotics assets is approximately 12.2 years .
−Removed: One of the trenchers has not yet been placed in service.
We incur routine dry dock, inspection, maintenance and repair costs pursuant to applicable statutory regulations in order to maintain our vessels in accordance with the rules of the applicable class society.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.