Endurance Exploration Group (OTCQB:EXPL) is pleased to announce that it has received a proposal for the charter of the vessel Atlantic Explorer from Atlantic Marine & Aviation. The Atlantic Explorer is a 230 ft, DP-1 equipped vessel designed specifically for subsea salvage and construction work. The vessel is further equipped with a specialized, integrated load bearing ROV system capable of lifting 20 tons of material using her multi-tool “ROGE” system deployed from the vessel’s moon pool. The ROGE system is a multi-tool system that is capable of moving heavy and large quantities of subsea material using its various grabs, cutting tools, and sediment excavation tooling. The proposal from Atlantic Marine provides Endurance with the option of chartering either the vessel with the integrated ROGE system onboard, or chartering a secondary, mobile ROGE system for placement on a vessel of opportunity in the USA. The proposal includes a significant discount to the vessel and systems standard charter rate in exchange for a modest participation in the economic returns of various salvage projects undertaken by Endurance. The Endurance Board of Directors is evaluating the proposal, the equipment’s technical capabilities, the equipment’s availability and expected salvage weather windows, Endurance’s 2016 salvage budget and finances, and the overall economics of the proposal with an eye towards moving to a full charter contract.
(First Posted on ExpeditionWriter.com)
Too often, it seems that we know little about the underwater world until something goes terribly, terribly wrong. In 2010 BP oil platform Deepwater Horizon exploded while drilling an exploratory well, blowing out at the ocean floor and spilling an estimated 210 million gallons of crude hydrocarbons into the Gulf of Mexico.
While scientists are still working to understand the oil spill’s impact on oceanic and coastal flora and fauna, the fate of critical underwater shipwrecks and other archaeological resources has gone largely unnoticed—until now.
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