HOS Closes Sea Mar Fleet Acquisition

Thursday, August 09, 2007
Hornbeck Offshore Services completed its acquisition of 20 offshore supply vessels and their related business from certain affiliates of Nabors Industries Ltd. for $186 million, plus the cost of the fuel inventory on the vessels. The Sea Mar Fleet is comprised of ten 200 class DP-1 new generation OSVs and ten conventional OSVs.

The company also acquired one 285-foot DP-2 new generation OSV currently under construction at a domestic shipyard with an anticipated fourth quarter 2008 delivery. The total estimated cost of this newbuild vessel, prior to allocation of construction period interest, is approximately $34.0 million, of which $7.3 million was paid to Nabors at closing. All of the vessels acquired by Hornbeck Offshore are U.S. flagged and qualify for U.S. coastwise trade under the "Jones Act" except for one of the conventional vessels, which is foreign-flagged. In addition, Hornbeck Offshore now manages five Nabors-owned Mexican flagged vessels currently operating offshore Mexico.

Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

RigNet Partners Inmarsat to Offer Fleet Xpress

RigNet, Inc., a global provider of remote managed offshore communications solutions, telecoms systems integration services and collaborative applications to the oil and gas industry,

Italy's Eni Arrives Arctic as Shell Departs

As Shell retreats from the Arctic, the Italian oil giant Eni is making final preparations for its own oil exploration venture in the Norwegian Arctic, reports the Guardian.

Coast Guard

USCG: Missing Cargo Ship El Faro Believed to Have Sunk

The U.S. Coast Guard now believes that the missing cargo ship El Faro sank after sailing into the path of Hurricane Joaquin in the Bahamas, a spokesman said on Monday.

Man Medevacs from Boxship Off Santa Rosa Island

The Coast Guard medically evacuated a 46-year-old man from a 738-foot container ship approximately 6 miles south of Santa Rosa Island, Sunday. At 10:01 a.

Debris Appears to Belong to Cargo Ship Missing in Bahamas

Search and rescue teams on Sunday located debris which appeared to belong to the cargo ship El Faro that went missing in the eye of Hurricane Joaquin with 33 mostly American crew members aboard,

Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
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: 0.1106 sec (9 req/sec)