HEA Energy agrees to buy Seaway7's six-ship heavy transport fleet ahead of the Saipem7 merger
The semi-submersibles carry wind foundations, substations and jack-ups of up to 55,000 tonnes, with completion due in 2027
Abu Dhabi-based HEA Energy has agreed to buy Seaway7 Heavy Transport, the heavy transportation business of Subsea7's offshore renewables arm, Seaway7. The deal, announced on 5 November, covers six open-deck semi-submersible heavy transport vessels, five owned and one chartered from a third party. Financial terms have not been disclosed. Completion is expected in the first half of 2027, subject to regulatory approvals and other customary conditions.
The fleet comprises Seaway Eagle, Seaway Falcon, Seaway Hawk, Seaway Osprey, Seaway Albatross and the chartered Seaway Swan. The ships carry offshore wind foundations, substations, jack-up rigs, modules and other oversized cargo, and Seaway7 rates them for loads of up to 55,000 tonnes.
Why is Subsea7 selling?
The sale is one of the divestments permitted under Subsea7's merger agreement with Saipem, and it triggers a €105m special dividend to Subsea7 shareholders. The dividend falls due at the earlier of the sale's completion and the day before the merger takes effect, and Subsea7 says processing and payment can take up to two weeks. It is the second disposal from the Seaway7 fleet in two weeks, after CBED bought the CSOV Seaway Moxie and chartered it back.
The merger, which would create Saipem7 with combined revenue of about €21bn, cleared another hurdle on 4 November when Brazil's competition authority CADE gave conditional approval. CADE required the separate sale of the pipelay and heavy-lift vessel Seven Borealis after raising concerns that the deal would remove competition between two of the main contractors in Brazil's subsea market, particularly on Petrobras pre-salt projects. The two companies say the disposal does not change the merger's rationale or its expected synergies of about €300m a year. The European Commission opened an in-depth investigation in July and suspended it in August pending more information, and Australia's competition authority is still reviewing the deal.
Who is HEA Energy?
HEA Energy was founded in 2022 by Hassan Elali, who founded Zakher Marine International and was its executive chairman before ADNOC Logistics & Services bought it. The company has grown through newbuildings and acquisitions, and by September had 19 vessels delivered and 12 under construction, with deliveries running through 2027. In August it bought the jack-up vessels Thor and Wind Lift 1 from Semco Maritime, and its jack-up HEA Hercules worked a North Sea offshore wind maintenance campaign earlier this year.
This story is part of the Maritime Briefing of 9 November 2026.
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