Avista Capital Partners News

Seacor Holdings Announces Acquisition of Joint Venture Partner’s Interest in Sea-Vista.SEACOR Holdings Inc. announced that it has become the sole owner of its consolidated SEA-Vista joint venture, acquiring through a subsidiary the 49% interest that had been owned by an affiliate of Avista Capital Partners (the “Seller”). Purchase consideration consisted of $106 million in cash and 1,500,000 shares of the Company’s common stock (the “Consideration Shares”).In connection with the purchase…

On November 8, 2016, shipbuilder General Dynamics NASSCO delivered the American Jones Act-qualified ECO Class tanker Constitution to SEA-Vista LLC. The ship was delivered during a signing ceremony at the builder’s shipyard in San Diego. Construction on Constitution began in June 2015, and the vessel was christened and launched on August 27, 2016. Constitution was built for SEA-Vista, a partnership between SEACOR Holdings Inc. (CKH) and Avista Capital Partners, and will be operated by Seabulk Tankers, Inc.

The U.S. built tanker ship Constitution returned to the NASSCO shipyard on Wednesday, October 26 following tests and trials off the coast of San Diego, Calif.   The ECO Class vessel is a 610-foot, 50,000 deadweight-ton, and LNG-conversion-ready product tanker with a 330,000 barrel cargo capacity.   Christened and launched on August 27, 2016, Constitution was built for SEA-Vista, a partnership between SEACOR Holdings Inc. and Avista Capital Partners, and will be operated by Seabulk Tankers, Inc.

On Saturday, August 27, shipbuilders at General Dynamics NASSCO celebrated the christening and launch of the Constitution, the sixth ship in a series of eight eco-friendly tankers constructed or under construction at the company’s San Diego-based shipyard. The ship, the Constitution, is a 610-foot, 50,000 deadweight-ton, and LNG-conversion-ready ECO Class product tanker with a 330,000 barrel cargo capacity. As part of the ceremony, the ship’s sponsor, Cristin Thorogood – wife of Dan Thorogood…

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a construction contract with SEA-Vista LLC, a partnership between SEACOR Holdings, Inc. and Avista Capital Partners. Construction on the Liberty began at NASSCO’s San Diego shipyard in October 2015. Once completed, the vessel will be a 610-foot, 50,000 deadweight-ton, LNG-conversion-ready product tanker with a 330,000 barrel cargo capacity, operated by Seabulk Tankers, Inc.

U.S shipbuilder General Dynamics NASSCO launched the first ship in a series of ECO Class tankers for the SEA-Vista fleet at a christening and launch ceremony at the company’s shipyard in San Diego on Saturday, December 12. The ship, the Independence, is a 610-foot, 50,000 deadweight-ton, and LNG-conversion-ready product tanker with a 330,000 barrel cargo capacity. According to the shipbuilder, the new ECO Class tanker symbolizes the emerging direction of the shipping industry in the U.S. toward cleaner, more fuel-efficient modes of transporting product.

General Dynamic’s NASSCO in San Diego arguably has the most diverse and enviable shipbuilding backlog in the U.S., with its navy and commercial orderbook stretching out for three years. With the yard humming at record pace, we sat down with Kevin Graney, VP & GM in San Diego to discuss how he and his team intend to keep the momentum rolling forward. General Dynamics National Steel & Shipbuilding Co. – NASSCO – has quietly become the face of U.S. shipbuilding, deftly balancing a newbuild and repair workload with the U.S.

Ceremony signals the start of construction for SEA-Vista ECO Tanker, the first of three tanker ships to be constructed locally at NASSCO. General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics, signaled the start of construction for three 50,000 deadweight ton, 330,000 barrel cargo capacity product tankers for SEA-Vista LLC, a joint venture between SEACOR Holdings Inc. and Avista Capital Partners (SEA-Vista). Each LNG-conversion ready product tanker will be constructed at the NASSCO shipyard in San Diego under Jones Act requirements. Representatives from General Dynamics NASSCO and SEA-Vista attended the start of construction ceremony held at the NASSCO shipyard on Friday, November 7.

Private equity firm Avista Capital Partners informs it has invested in a newly-formed joint venture (J/V) with SEACOR Tankers Inc., a subsidiary of SEACOR Holdings Inc. that operates a fleet of 7 U.S.-flag Jones Act vessels (5 owned and 2 chartered-in) in the U.S. coastwise trade transporting crude oil, petroleum and specialty chemical products. Under the terms of the joint venture, ACP III Tankers LLC, a wholly owned entity of Avista, will fund a portion of the equity required for the design and construction of three 50,000 deadweight ton product carriers, each with 330,000 barrel cargo capacity, which SEACOR has contracted to build at General Dynamic's National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego…