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.


Workboats

MN100: McAllister Towing

The Company: McAllister Towing & Transportation operates a fleet of more than 75 tugboats, crew boats and barges in 17 locations along the U.S. East Coast from Portland, ME to San Juan, PR.

Custom Dredge Keeps Santa Cruz Harbor Clear

The winter of 2016 was an unusually harsh one for the Santa Cruz Small Craft Harbor in Santa Cruz, Calif. Four years of drought was followed by an El Niño season that brought storm water runoff,

Another Tug Launched for Suderman & Young

Eastern Shipbuilding Group, Inc. said it launched on August 15, 2016 the final vessel in a series of four Z-Tech Class Terminal & Escort Tugs being constructed for Suderman & Young Towing Company.

Finance

Global Fallout from Hanjin Collapse

When Hanjin Shipping, Korea's largest and one of the world’s top ten container carriers, filed filed for court receivership after losing the support of its banks,

Ship Finance 2016 Q2 Reveue Falls

Ship Finance International Limited earnings missed the Street expectations for the second quarter. Quarterly charter revenues $159m versus $174m in last quarter.

KfW IPEX-Bank Boosts its Presence at SMM

In an interview the departing head of the KfW IPEX-Bank Maritime Industries department, Dr. Carsten Wiebers offers insight into the facets of international ship

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators
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: 0.1073 sec (9 req/sec)