Hvide to Add Two New Boats

Friday, December 22, 2000
Hvide Marine Incorporated has made an agreement to purchase two modern 152-ft. crewboats from Crewboats, Inc. The purchase price for the two vessels, which will join HMI's Seabulk Offshore fleet in the Gulf of Mexico, is $5 million. The company expects to take delivery of one vessel in December 2000 and the second in May 2001.

"These are the 'hotshot boats' of the offshore industry," commented company president and CEO Gerhard E. Kurz, "and they command day rates of $3,500 and up in today's market, where focus is shifting to the deepwater and a premium exists for fast, reliable delivery of vital parts and supplies. The advantage of this transaction is the prospect of immediate earnings in a rising market, rather than waiting the 12-18 months it takes to deliver the average newbuild."

Built by Breaux's Bay Craft, the vessels - also known as fast supply boats - generate 4,400 base horsepower and are capable of speeds up to 25 knots versus the 10-knots capability of larger, conventional supply vessels.

Seabulk Offshore currently operates four sister vessels, also built by Breaux's Bay Craft - the Seabulk St. Andrew (1998), Seabulk St. James (1998), Seabulk St. Tammany (1997), and Seabulk St. Frances (1996) - which are currently operating in the U.S. Gulf and Mexico. Seabulk Offshore is one of the largest operators of oilfield support vessels in the Gulf of Mexico with a domestic fleet of 26 supply vessels and 34 crew/utility boats. Worldwide, Seabulk Offshore operates a fleet of 182 vessels in the Gulf of Mexico, South America, West Africa, the Middle East, Southeast and Southwest Asia, and the Mediterranean.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Workboats

FPSO Petrojarl Knarr Delivered to Norway

Three tugs of Fairmount Marine have towed the brand new FPSO Petrojarl Knarr from South Korea to Norway in just 61 days. Petrojarl Knarr, one of world’s largest

MM&P Hopes to Pad Ranks with Brown Water Mariners

New York Harbor Tug Boat Captains and Crews, Staten Island Ferry Workers, Circle Line and Other Tourist Boat Crews Vote on Joining New Union Uniting with the International Organization of Masters,

Damen Delivers ASD Tug in Italy

RimorchiatoriRiunitiS.p.A. of Genoa (Italy) has taken delivery of a Damen ASD Tug 2411. The 70-metric-ton bollard pull azimuth stern drive tug will be temporarily deployed by Tug Malta Ltd.

Finance

Nigerian Minister Pledges $1.3 bln for Power Companies

Nigeria's oil minister announced a 213 billion naira (1.3 billion US dollar) bail-out package for power companies on Saturday, nearly a year after the sector was privatised.

Russia's Yamal LNG Project May Tap Wealth Fund in 2014

Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies.

ICC Conference Focuses on Platform to Settle Disputes

The 5th ICC International Commercial Mediation Conference has brought together leading mediators, arbitrators, corporate managers and in-house counsel from around

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1470 sec (7 req/sec)