Seabulk International News

Marcon International, Inc. of Coupeville, Washington reported that Stabbert Maritime of Seattle has time chartered the U.S. flag, DP-1, research vessel Ocean Pioneer (ex: Seabulk Montana, Montana, Seabulk Montana, Indian Seal) to FMC Technology of Davis, California. The 205' x 40' x 17' depth vessel was built in 1974 by Burton Shipyard in Port Arthur, Texas for Seal Fleet of Galveston, Texas and acquired by Hvide Marine, Inc. in 1996, along with seven other offshore supply boats. Hvide reorganized in 2001 and was renamed Seabulk International.

A relatively quiet week in the shipbuilding sector according to the latest report Clarkson Hellas S&P Weekly Bulletin. Henghou Industries have contracted two further vessels in a series of 250,000 dwt ore carriers at Guangzhou Longxue. Pricing remains undisclosed, however delivery of these latest vessels is planned for 2016 and takes the total series to four firm. Knightsbridge Tankers are reported to have placed an order for two firm 180,000 dwt Capesize at Daehan Shipbuilding, with delivery of both vessels planned for 2015.

Shipbuilding orders were rather less the past week, but there were notable contracts for specialised heavy-lift carriers from Chinese shipbuilders, according to the Clarkson Hellas S&P Weekly Bulletin round-up. Limited ordering to report this week in dry say Clarkson, with the focus very much being on the smaller sizes. Starting with the larger of these, Parakou Shipping have declared a further four options for 64,000 DWT Ultramax at Chengxi taking the total series to eight vessels. Delivery of these latest vessels from end 2015. In the Handysize dry bulk carrier market, Interlink have placed a new order for five firm plus five options 38,500 DWT bulkers at Kouan Shipbuilding.

For the quarter ended September 30, 2007, net income was $70.3 million, or $2.66 per diluted share, on operating revenues of $359.9 million. For the nine months ended September 30, 2007, net income was $173.7 million, or $6.44 per diluted share, on operating revenues of $996.1 million. Net income for the preceding quarter ended June 30, 2008 was $38.4 million, or $1.57 per diluted share, on operating revenues of $409.0 million. Comparison of results for the third quarter ended September 30, 2008 with the preceding quarter ended June 30, 2008 is included in the discussion below. Offshore Marine Services -- Operating income in the third…

Seabulk International has launched its new web site at www.seabulkinternational.com. The site is designed to complement the company's recent name change from Hvide to Seabulk International and the rebranding of its three primary business segments under the Seabulk umbrella - Seabulk Offshore, Seabulk Tankers and Seabulk Towing. On the occasion of the launch, Seabulk President and CEO Gerhard E. Kurz said, "This enhanced site incorporates interactive options and real-time data to reinforce and strengthen our global one-on-one communications with customers, investors, career-seekers and other interested parties." The site offers users a searchable fleet list for the company's entire 206-vessel fleet.

Seabulk International, Inc. announced that its subsidiary, Seabulk Offshore S.A., (SOSA), which is already ISM-certified, has also successfully passed the Bureau Veritas annual audit for renewal of its certification as an ISO 9002-certified company. SOSA operates a fleet of 38 offshore energy support vessels in West Africa, South America and the Caribbean. activities in the deepwater market off the coasts of Nigeria, Angola, Gabon, Equatorial Guinea, Congo and Cameroon. support vessels with a fleet of 143 workboats in nearly all of the world's major offshore markets. Two other subsidiaries -- Seabulk Towing, with 31 vessels in seven southeastern U.S. American Waterways Operators' Responsible Carrier Program, an ISM Code- equivalent safety management system for the towing industry.

Seabulk Towing, Inc., the Tampa-based subsidiary of Seabulk International, announced the appointment of Kenneth M. Rogers to the new position of Senior Vice President of Marketing. in the Gulf of Mexico and the Atlantic. Towing's development strategy. A graduate of the U.S. Carnival Corporation. Propeller Club of the United States.

Seabulk International, Inc. 2001. current quarter were up 10% from $81.6 million a year ago. services business and its domestic tanker business. Revenues from Seabulk Offshore, which operates a fleet of 142 offshore energy support vessels, rose 31 percent year-over-year to $51.1 million from $39.1 million and accounted for 57 percent of total revenues. Operating income from Seabulk Offshore totaled $13.0 million, a nearly three-fold increase from $4.6 million a year ago. Utilization was 83% against 90% in the second quarter and 76% in the year-earlier quarter. quarter and 86 percent in 2000. second quarter and 85 percent a year ago. rates firmed while utilization remained steady. third quarter of 2000, when they operated an additional tanker which has since been scrapped.

SeaSupplier Ltd. (SeaSupplier), the marine e-procurement subsidiary of Stolt-Nielsen S.A. announced it has been chosen by Ft. Lauderdale, Fla., based Seabulk International to provide its total SeaManager e-procurement solution to Seabulk International's three global divisions: Seabulk Offshore, Seabulk Tankers, and Seabulk Towing . cost and time. Gerhard E. Kurz, President and Chief Executive Officer of Seabulk, commented, "This is a significant step forward in our ongoing efforts to lower costs and improve service and response time to our customers. We have evaluated several e-procurement solutions to streamline our purchasing process and reduce our costs.

The Seabulk Offshore group of companies last week added a new UT-710 Anchor Handling Tug Supply Vessel (AHTS) to its fleet, making the 226-ft. Seabulk South Atlantic the fifth newbuild vessel in Seabulk's 2003 fleet renewal program. Built by Brevik Construction AS in Norway, the 10,850-hp Seabulk South Atlantic joins the Seabulk fleet on a five-year bareboat charter agreement that includes a purchase option at the end of the contract. Larry D. The Seabulk South Atlantic produces speeds up to 15.5 knots…

Seabulk International, Inc. plans to make a presentation to the investment community at the RBC Capital Markets North American Energy & Power Conference 2003 in Houston on Wednesday, September 17, at 1:45 p.m. (CDT). The presentation will be made by the Company's Senior Vice President and Chief Financial Officer, Vincent J. deSostoa, and will be audio Webcast. To access the Webcast, go to http://www.wallstreetwebcasting.com/webcast/dr13/sblk. Participants should go to the Web site at least 10 minutes prior to the broadcast to register, download and install any necessary audio software. The Webcast will be archived for 30 days following the conference.

Seabulk International, Inc. announced that it has agreed to purchase two 48,000-dwt product tankers from principals of World-Wide Shipping of Singapore. The tankers, the World Trumpet and World Trust, are modern double-hull vessels built in 2000 at the Daewoo Shipyard in Korea and suitable for worldwide trading. Delivery of the vessels is expected in March. They will be the first foreign-flag product tankers to join the Seabulk fleet. Seabulk currently has 10 product tankers operating in the domestic Jones Act market. "The international product market represents a new strategic direction for us," commented Gerhard E. Kurz, Chairman and Chief Executive Officer, "although it is really a natural extension of our domestic tanker business where we have been active for more than 25 years.

Expanding its presence in the growing offshore West African market, Seabulk Offshore -- a subsidiary of Seabulk International, Inc. (Nasdaq: SBLK) -- announced that it has ordered two additional vessels for delivery in late 2004 and mid-2005, respectively. Built at a combined cost of approximately $23.4 million, the new vessels will work under long-term contracts for a major international oil company in offshore Angola. "West Africa is our biggest market and represents more than half of Seabulk Offshore's revenue," commented Larry D. Francois, President of Seabulk Offshore. The vessels, the Seabulk Advantage and the Seabulk Luanda, bring to five the total number of newbuilds currently under construction for Seabulk Offshore.

Expanding its presence in the growing offshore West African market, Seabulk Offshore -- a subsidiary of Seabulk International, Inc. has ordered two additional vessels for delivery in late 2004 and mid-2005, respectively. Built at a combined cost of approximately $23.4 million, the new vessels will work under long-term contracts for a major international oil company in offshore Angola. "West Africa is our biggest market and represents more than half of Seabulk Offshore's revenue," commented Larry D. Francois, President of Seabulk Offshore. The vessels, the Seabulk Advantage and the Seabulk Luanda, bring to five the total number of newbuilds currently under construction for Seabulk Offshore. Of the five, three are destined for West Africa and two for Brazil.

Seabulk International, Inc. announced that its U.S.-based offshore energy support subsidiary, Seabulk Offshore, Ltd. (SOL), has been certified by the American Bureau of Shipping to be in compliance with the International Management Code for the Safe Operation of Ships and for Pollution Prevention (International Safety Management (ISM) Code). The Document of Compliance certification is valid for five years with an annual audit. SOL, with primary offices in Houston, Texas; Lafayette and Amelia, La., services oil and gas exploration facilities primarily in the Gulf of Mexico, operating a fleet of 60 vessels including anchor-handling tug supply vessels, supply vessels and crew boats.

Seabulk International has completed the sale of the inland barge and towboat fleet of its Sun State Marine Services, Inc. subsidiary to Colonial Towing, which is a subsidiary of Colonial Group, Inc. of Savannah, Ga. The proceeds from this sale, which amount to approximately $3.8-million will be used by Seabulk to pay down debt.

Crowley Marine Services' Energy and Marine Services business unit has successfully moved the 312-ft. square concrete island drilling structure Orlan from Prudhoe Bay, Alaska, to Sovietskaya Gavan in the Russian Far East for Sakhalin I Project operator, Exxon Neftegas Limited (ENL), a subsidiary of Exxon Mobil Corporation. The Orlan (ex Glomar Beaufort Sea I) Concrete Island Drilling System (CIDS) was purchased from Global Marine Drilling Company and will be used for oil production as part of the Sakhalin 1 project, offshore Russia. It was moved from its stack site near Northstar Island, off Prudhoe Bay using two Crowley Sea Victory Class 7,200 bhp twin screw oceangoing tugs with more than 110 tons bollard pull each.

Tidewater Inc. (NYSE:TDW) announced on March 28 that William C. O'Malley, the company's Chairman, President and CEO for most of the past eight years, has officially stepped down as Tidewater's CEO, handing over the reins of leadership to Dean E. Taylor. Taylor, 53, has served as President of Tidewater since October 2001 when O'Malley, 65, announced his impending retirement at the end of March 2002. Taylor's career with Tidewater started in 1978 where he served as an assistant manager in the company's Morgan City, La. office. With his Navy background and business savvy, Taylor gradually worked his way up through Tidewater's ranks to become an executive vice president in December of 2000.

SeaSupplier Ltd, the marine e-procurement subsidiary of Stolt-Nielsen S.A, announced today it has signed a multi-year SeaManager ™, e-procurement contract with Stolt Offshore S.A., the world's largest operator of specialty sub sea construction and maintenance ships, pipe laying and heavy lift barges. Together with Stolt Offshore’s annual expenditure of $600 million on products and services and with SNTG, Seabulk International, RCCL, Teekay Shipping and NYK LINE, more than a $1billion of expenditure is anticipated to be transacted through the SeaSupplier Value Added Network™. SeaSupplier will provide Stolt Offshore S.A with its complete procurement solution, SeaManager™, as well as consulting services for database rationalization and business process re-engineering.

Seabulk International, Inc. announced the signing of a definitive agreement with DLJ Merchant Banking Partners III, L.P., a CSFB Private Equity fund, and affiliated entities, and Carlyle/Riverstone Global Energy and Power Fund I, L.P. for the private placement of 12.5 million shares of newly issued Seabulk common stock at a cash price of $8.00 per share. The $100 million investment would give the new investors approximately 51% of the pro forma, fully diluted common shares of the Company and majority representation on its Board of Directors. The investment is subject to shareholder approval, the refinancing of the Company's senior credit facility, certain regulatory approvals and satisfaction of other customary conditions.

Hvide Marine Inc. reported a net loss of $9.6 million for the fourth quarter ended December 31, 2000, on revenues of $80 million. In the year-earlier period, the company had a net loss of $197 million, including charges related to its reorganization, on revenues of $76.8 million. Operating income in the fourth quarter of 2000 was 8.1 million versus an operating loss of $11.8 million in the fourth quarter of 1999. For all of 2000, the company reported a net loss of $29 million on revenues of $320.5 million. In 1999, the company had a net loss of $249.9 million on revenues of $342.2 million. Operating income in 2000 totaled $25.4 million versus an operating loss of 9.5 million in 1999.

Port Everglades Towing in January celebrated its 43rd year of service to Port Everglades and Broward County. The company is a division of Hvide Marine, Inc., which was recently renamed Seabulk International, Inc. Founded on Jan. 23, 1958 by the late Hans Hvide and three partners, Port Everglades Towing began its franchised operation with two tugs. At the time, there were fewer than a thousand ship calls a year (fewer than three a day) at Port Everglades, and the port's annual revenues had just topped $1 million. Today, by comparison, Port Everglades receives nearly 6,000 ship calls a year (about 16 a day); has annual revenues of more than $75 million, and services nearly three million cruise passengers annually.

Hvide Marine Inc. reported a net loss of $9.6 million for the fourth quarter ended December 31, 2000, on revenues of 80 million. In the year-earlier period, the company had a net loss of 197 million, including charges related to its reorganization, on revenues of $76.8 million. Operating income in the fourth quarter of 2000 was 8.1 million versus an operating loss of $11.8 million in the fourth quarter of 1999. For all of 2000, the company reported a net loss of $29 million or 2.89 per diluted share on revenues of $320.5 million. In 1999, the Company had a net loss of $249.9 million on revenues of $342.2 million. Operating income in 2000 totaled $25.4 million versus an operating loss of 9.5 million in 1999.