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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

FedEx Completes Takeover of TNT Express

US-based FedEx Corp. completed its €4.4 billion ($4.9 billion) acquisition of Dutch TNT Express, , with integration of the companies to start immediately.   The

STX Shipbuilding Likely to Enter Court-lead Restructuring

South Korean shipbuilder STX Offshore & Shipbuilding Co Ltd will likely need to enter court-supervised receivership due to financial difficulties, the firm's lead

Statoil Says Sees European Gas Prices Bottoming Out

Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply,

Maritime Security

US, Thailand Naval Exercise in Andaman Sea

The U.S. Navy (USN) and the Royal Thai Navy (RTN) kicked off Exercise Guardian Sea, Andaman Sea comprising bilateral naval training drills that aim to enhance

Guinean Sailors Arrested after Clash with Sierra Leone Navy

Sierra Leone was holding 11 Guineans including military personnel in custody on Wednesday following a confrontation at sea involving the two West African neighbours' navies,

Outdated Systems Placing Vessels at Risk of Cyber-Attack

Maritime vessels are under significant threat of cyber-attack because many are carrying outdated software and were not designed with cyber security in mind, according to new research.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.0787 sec (13 req/sec)