James Fisher venture awarded Shanghai Salvage contract

James Fisher and Sons announced on Wednesday that its joint venture company, Wuhu Divex Diving Systems, had been awarded a contract by Shanghai Salvage to supply a mobile, 12-man saturation diving system capable of diving to depths of 300m.

The FTSE 250 firm said the system was due for delivery in the second half of 2018.

It said mobile systems could be deployed on several vessels in the Shanghai Salvage fleet and support salvage, subsea installation and intervention projects in an efficient and cost-effective manner.

Government-owned Shanghai Salvage is one of the biggest professional salvage companies in China.

In November 2016 the group's subsidiary, JFD, was awarded another contract to build a 24-man saturation diving system rated for diving support to depths of 500m.

“We are delighted that our joint venture, Wuhu Divex Diving Systems, which is dedicated to the Chinese market, has won its first contract for a significant saturation diving system,” said chief executive officer Nick Henry.