Hornbeck Offshore Files Registration Statement for IPO

Monday, September 22, 2003
Hornbeck Offshore Services has filed a registration statement with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock. Hornbeck Offshore plans to use the net proceeds to the Company from the proposed offering to fund a portion of the costs of the construction of ocean-going, double-hulled tank barges, the retrofit of certain existing vessels, possible future acquisitions or additional new vessel construction, and for general corporate purposes. The underwriting group will be co-led by Goldman, Sachs & Co. and Jefferies & Company, Inc., with Goldman Sachs & Co. acting as sole book-runner. Simmons & Company International and Johnson Rice & Company, L.L.C. will act as co-managers. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet been declared effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Doug J. Marchand, Executive Director of the Georgia Ports Authority (GPA), announced today that Georgia's ports started off the new fiscal year with two consecutive months of double digit gains in container growth. Records show a total of 260,790 TEUs (Twenty-foot Equivalent Units) were handled through the Port of Savannah during July and August 2003, the first two months of GPA's 2004 fiscal year. The additional cargo represents a 14.2 percent increase over this time last year. Records also show that 133,320 TEUs were handled through the Port of Savannah during August alone, or a 12.1 percent increase over last year. "When many of the major container load centers on both the West and East coasts are experiencing either flat or lower container volumes, GPA continues to experience double-digit growth," said Marchand. "That is a direct result of ten new services calling on GPA since last year. Five of those are Asian services helping to boost our share of South Atlantic imports from Asia from 63 percent in FY02, to 68.2 percent in FY03." "Savannah's market share of South Atlantic exports to Asia increased from 52.7 percent in FY02 to 63.6 percent in FY03," Marchand added. "We have clearly demonstrated to our customers that our new services are helping to give shippers more choices, better frequency and assurance of competitive rates for both inbound and outbound freight," said Marchand. "I believe the success of the Port of Savannah will continue to be a catalyst for future economic recovery in Georgia. New containers mean new jobs for Georgians."
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Kurdistan Says Crude Cargo Near Texas Legally Sold

A $100 million cargo of crude oil in a tanker near Texas was legally shipped and sold by Kurdistan, lawyers for the autonomous region in Iraq told a U.S. court in a letter seen on Thursday,

Kirby Reports Record Q2 2014

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability.

UK Oil Imports Exceed Exports for First Time in 30 Years

Britain imported more oil products than it exported last year for the first time in 30 years, an official report shows, and analysts say the country is likely to

Maritime Security

Kenya Charges 9 Foreigners over Heroin Haul

Nine foreign nationals were charged in a Kenyan court on Thursday with trafficking the biggest ever single seizure of drugs at the Indian Ocean port of Mombasa.

Video: RIMPAC 2014 Ships Underway

The U.S. Navy posted a video showing Rim of the Pacific (RIMPAC) Exercise 2014 operations underway. Watch as 42 ships and submarines representing 15 international

Piracy Activity Drifts Towards Southeast Asia

Since 2010, there has been a steadily increasing trend of piracy attacks in Southeast Asia, according to a report released by UNITAR (UN Institute for Training and Research),

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators 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: 0.1173 sec (9 req/sec)