LEEVAC INDUSTRIES

LEEVAC Wins $40M Casino Boat Contract

Leevac Industries, LLC of Jennings, La., won a $40 million contract from PNK (Lake Charles), LLC for the construction of a 330 x 225 x 13-ft. (100.5 x 68.5 x 3.9 m) Paddlewheel Casino Vessel. Lay, Pittman and Associates, Inc. of Jacksonville, Fla., are the naval architects. The casino vessel will hold more than 1,500 slot machines and 60 table games and will be moored in Lake Charles, La. This vessel will be the largest riverboat casino built in the State of Louisiana. Leevac’s President, William F. Stokes said, “We are pleased that Pinnacle Entertainment has placed the confidence in our ability to construct this project and the award of this project is indicative of Leevac’s reputation as a shipyard that can deliver on-time and with superior quality.” The Riverboat Casino will be completed in December of 2004. Located on the Mermentau River 5 miles east of Jennings, LA, Leevac Industries, LLC is a full service shipyard that designs, builds and repairs steel vessels for both the commercial and government markets at its two facilities in Louisiana.

HORNBECK-LEEVAC Changes Name

HORNBECK-LEEVAC Marine Services, Inc. announced that it has changed its name to Hornbeck Offshore Services, Inc. The new corporate name was approved at the company's recent annual meeting of stockholders. The name of the tug and tank barge owning subsidiary, LEEVAC Marine, LLC, has also been changed to Hornbeck Offshore Transportation, LLC. The name changes are effective immediately. Todd M. Hornbeck, President and CEO remarked

Leevac Stays Ahead of the Game

While it would be foolhardy to classify Leevac as a cutting-edge ship and boatbuilder, the Jennings, La.-based company quietly goes about its business of building high quality vessels in an efficient manner. Unassuming president Fred Stokes sits at the helm of the company that has weathered markets good and bad, and watched as competitors and colleagues have been oftentimes swept overboard by financial maelstroms.

Vessels: HOS Bluewater Delivered by Leevac

On March 16, 2003, Hornbeck Offshore Services (HOS) took delivery of the HOS Bluewater from LEEVAC Industries LLC. The vessel was delivered to Hornbeck Offshore two weeks ahead of schedule and immediately began a term charter for an unnamed operator. The HOS Bluewater is the first of four deepwater OSV's that will be delivered to Hornbeck Offshore by year's end. Designed by and built for Hornbeck Offshore Services, LLC, the HOS BLUEWATER is the company's seventh DP-2 vessel.

Hornbeck Offshore Delivers HOS Innovator

Hornbeck Offshore Services Inc. of Mandeville La. delivered its first Classed DP II PSV, HOS Innovator, for service. Leevac Industries of Jennings, La. constructed the vessel to Hornbeck's design. Upon delivery, the vessel began a three-year charter with Sonsub Inc. of Houston, Texas as a multi functional ROV Support Vessel. Measuring 240 x 54 x 18 ft. (73.1 x 16.4 x 5.4 m), this vessel is the first of six DP II classed vessels to be delivered to Hornbeck Offshore during the next eight

Hornbeck-Leevac Announces Completion of Equity Offering

Hornbeck-Leevac Marine Services, Inc. announced that it has completed the purchase of all of its outstanding warrants for an aggregate purchase price of $14.5 million. The repurchase of the warrants was financed through the successful offering of $14.6 million of the Company's common stock. In addition, the Company announced that Jesse E. "Jempy" Neyman, Vice-President of Enron Principal Investments and board designee of the warrantholders

Tidewater Orders Two LEEVAC Platform Supply Vessels

LEEVAC Shipyards Jennings LLC, Jennings, LA, announced it has signed contracts with Tidewater Marine, LLC of New Orleans, LA to build two LEEVAC Design Services “LDS ” Platform Supply Vessel (PSV), a 300’ x 62’ x 24’ diesel electric PSV with options for two additional vessels. The LDS 300 DE PSV will have a deadweight capacity of 5400 LTs and will carry more than 17,600 barrels of liquid mud

Feature: Major Operators Adding OSVs at Record Pace

Although this has been considered an off year in the Gulf of Mexico from rig count and fleet utilization standpoints, it is another record year for major offshore operators expanding their fleets and the shipyards that are building these vessels. Last year, over 50 supply boats were delivered and about an equal number of crew/supply vessels made their way into the fleets of operators. This year looks equally robust as vessels are being ordered in quantities of four, six and even 10.

South Korea Faces WTO Action For Shipbuilding Practices

The European Union is considering taking action against South Korea under the World Trade Organization, accusing the country of using western subsidies to sell ships at below construction cost and putting European rivals out of business. "The sector is facing a critical situation worldwide with very low prices and a serious overcapacity caused by the Republic of Korea," EU industry ministers said after a regular meeting where they discussed a European Commission report on the world

Sarawak Timber Industry to Seek Extra Land for Shipbuilding

The Sarawak Timber Industry Development Corporation (STIDC) hopes to obtain another 49 hectares of land to facilitate the shipbuilding industry in the new township of Tanjung Manis in Sarikei. Minister of Urban Development and Tourism Datuk Sri Wong soon Koh said an earlier allocation of 81 hectares for the industry had been fully taken up by local and overseas shipbuilding companies. STIDC is coordinating the industrial development of the township which also houses the country's second