Publicly traded TechnipFMC has sent one of its pipelay vessels to help in the urgent search and rescue mission to locate the submersible that recently went missing while taking five people down to see the Titanic shipwreck.
The company’s vessel, called Deep Energy, started doing remotely operated vehicle (ROV) operations on Tuesday in the area where the U.S. Coast Guard (USCG) and others are searching for the OceanGate Expeditions-owned Titan submersible, according to a USCG press release. It had reached the scene the same day, something a TechnipFMC spokesperson confirmed to FOX Business.
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"We are working closely with and under the direction of the United States Coast Guard, who are leading the effort and will provide further information as it is available," the TechnipFMC spokesperson said.
The roughly 10-year-old Deep Energy vessel has the "capacity to install rigid pipe, flexible pipe and umbilicals" as deep as about 9,800 feet, the company states on its website. In addition to ROVs, some of its other features include being able to reach up to 19.5 knots and having cranage and deck winches.
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TechnipFMC, which trades on the New York Stock Exchange under the ticker "FTI," operates a fleet of 18 vessels, according to its website. It has about 20,000 employees and two headquarters, one of which is located in the U.K. and the other is in Houston.
Shares have gained 24% this year.
The Titan submersible with five people on board disappeared Sunday when it deployed to visit the Titanic shipwreck more than 12,500 feet deep. The crew had an estimated 16 to 17 hours of breathable air remaining as of 1 p.m. Wednesday.
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The people on the missing submersible are OceanGate CEO Stockton Rush, British businessman Hamish Harding, Pakistani father and son Shahzada and Suleman Dawood, and former French navy officer Paul-Henry Nargeolet, according to Fox News.
Suzanne O’Halloran and Michael Ruiz contributed to this report.
