Hornbeck Offshore Services Inc News

Gulf of Mexico vessel builders – and their customers – adapt to a lean offshore market. After oil prices plunged in late 2014 – pressured by shale output – demand for offshore vessels in the Gulf of Mexico shrank, day rates for boats fell and non-working units were idled. This year, several GoM boat builders filed for Chapter 11, or voluntary bankruptcy, while others consolidated. The most diversified companies kept their heads above water. Today, the outlook's a bit brighter. Crude oil prices hit bottom early last year. Tidewater Inc.

Delta SubSea Secures U.S.-Flagged DP-2 IMR/Construction Support Vessel for Deepwater ROV Operations in the GoM. Delta SubSea, LLC (DSS) has entered into an agreement with a subsidiary of Hornbeck Offshore Services, Inc. (HOS) for the HOS Bayou, one of Hornbeck’s recently constructed 300 class HOSMAX DP-2 multipurpose service vessels (MPSVs). The HOS Bayou is the newest U.S.-flagged Jones Act-compliant MPSV on the market today. Equipped with two Delta SubSea Schilling HD 150 HP work-class remotely operated vehicles (ROVs) from DSS’s fleet of ROVs…

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc., announced four separate shipbuilding milestones for the Offshore Supply Vessel (OSV) Super 320 Program underway for Hornbeck Offshore Services, Inc. Firstly, VT Halter Marine delivered HOS Captain on July 10. Five days later, VT Halter Marine hosted the christening ceremony of HOS Crestview held at the Pascagoula facility and launched HOS Caledonia at the Halter Moss Point facility on July 15. Finally, delivery of HOS Clearview took place on July 28.

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014. Vessel Counts:  As of June 30, 2014, excluding two inactive non-core vessels and two HOSMAX OSV newbuild deliveries that occurred in July 2014, the Company's operating fleet consisted of 56 new generation OSVs and four MPSVs. The forecasted Upstream vessel counts presented in this press release reflect the anticipated fiscal 2014 OSV and MPSV newbuild deliveries discussed below. The Company's active Upstream fleet for fiscal years 2014 and 2015 is expected to be comprised of an average of 58.0 and 67.6 new generation OSVs, respectively.

Eastern Shipbuilding Group, Inc. announced the launching of the HOS BLACK ROCK (Hull 207) on Friday March 28, 2014 for Hornbeck Offshore Services, LLC. The HOS BLACK ROCK is Eastern’s third vessel in Hornbeck Offshore’s HOSMAX 310 class series. The launching event was held at Eastern’s Allanton facility with hundreds of Eastern Employees and Guests attending despite rainy weather. Attending from Hornbeck was Bill Krewsky, Director of Engineering and Project Management. Bill spoke about the continued long term commitment, partnership and future of the two companies.

OSVDPA seeks to start training and certifying DPOs by the end of this year. A new organization, the Offshore Service Vessel Dynamic Positioning Authority, Inc. (OSVDPA), held its first board meeting Thursday, March 12, charting the course toward a new dynamic positioning operator (DPO) certificate specially designed for the offshore service vessel industry. Incorporated as a non-profit, the OSVDPA is seeking to improve the safety of the maritime industry by improving the quality and quantity of certified DPOs. The Authority’s training and certification system will seek to emulate the structure of existing DPO certification methods with some enhancements. Specifically, the Authority’s system is unique in its change of emphasis from measuring sea-time to assessing competence.

Covington, LA. headquartered Hornbeck Offshore Services, Inc. has announced its financial results for the fourth quarter ended December 31, 2013 with a year-on-year almost quarterly doubling of net income. The Company recorded net income for the fourth quarter of 2013 of $22.2 million, or $0.61 per diluted share, compared to net income of $11.3 million, or $0.31 per diluted share, for the year-ago quarter; and net income of $59.2 million, or $1.61 per diluted share, for the third quarter of 2013.

Eastern Shipbuilding Group, Inc. announce that on Thursday October 10, 2013, the M/V HOS Red Rock (Hull 202) was delivered to Hornbeck Offshore Services, LLC. The HOS Red Rock was launched on April 19, 2013. Hornbeck’s first vessel, the HOS Red Dawn (Hull 201), was delivered on June 21, 2013 and is currently servicing offshore drilling operations in the U.S. Gulf of Mexico. Hornbeck’s third vessel the HOS Renaissance (Hull 203) and is currently at Eastern completing final outfitting, regulatory and DP-2 trials. Delivery of the HOS Renaissance is scheduled for November 2013.

Ongoing infrastructure and newbuild activity not expected to let up. Modern, sophisticated and quality tonnage arrives at just the right time. Vessel builders are ramped up for strong demand from the Gulf of Mexico, where oil drilling is very soon expected to return to pre-Macondo levels. Utilization rates for offshore vessels are rising in the GoM, along with associated dayrates. Three Louisiana leaders--Edison Chouest Offshore in Cut Off, Hornbeck Offshore Services Inc. in Covington and Harvey Gulf International Marine in New Orleans--are engaged in aggressive newbuild programs.

Leevac Shipyards Jennings LLC, of Jennings, LA, a subsidiary of Leevac Shipyards, LLC signed contracts with Hornbeck Offshore Services, LLC, an affiliate of Hornbeck Offshore Services, Inc. (NYSE:HOS) of Covington, La., for the construction of two  STX Marine SV 310 Multi-Purpose Supply Vessels; 302 x 76 x 26-ft,, 12,070 BHP diesel electric powered MPSV’s. “These will be the twenty-third and twenty-fourth vessels to be built by Leevac for Hornbeck” said Christian Vaccari, President and CEO of LEEVAC.

Cargotec's MacGregor has received €37 million order from Hornbeck Offshore Services Inc. to deliver four 250-ton active heave-compensated (AHC) subsea cranes for four multi-purpose supply vessels (MPSV).  The cranes will be delivered between fourth quarter 2014 and third quarter 2015. The order is booked in the second quarter 2013 order intake. "MPSVs are specialized vessels that are principally used to support complex deepwater subsea construction, installation, maintenance, repair and other sophisticated operations," said Frode Grøvan, Sales and Marketing Director for MacGregor Advanced Load Handling.

Cargotec's MacGregor contracted by Hornbeck Offshore Services Inc. to deliver 4 AHC cranes for 4 multi-purpose supply vessels (MPSV). The cranes will be delivered between fourth quarter 2014 and third quarter 2015, and the value of the order is EUR 37-million for the four 250-tonne active heave-compensated (AHC) subsea cranes. "MPSV's are specialized vessels that are principally used to support complex deepwater subsea construction, installation, maintenance, repair and other sophisticated operations," says Frode Grøvan, Sales and Marketing Director for MacGregor Advanced Load Handling.

Hornbeck Offshore Services, Inc. announced  results for the first quarter ended March 31, 2013. First quarter 2013 revenues increased 23.0% to $147.5 million compared to $120.0 million for the first quarter of 2012 and increased 10.7% compared to $133.2 million for the fourth quarter of 2012. Operating income was $47.4 million, or 32.1% of revenues, for the first quarter of 2013 compared to $28.6 million, or 23.8% of revenues, for the prior-year quarter; and $32.5 million, or 24.4% of revenues, for the fourth quarter of 2012.

Hornbeck Offshore To Issue $450,000,000 Of 5.000% Senior Notes Due 2021. Hornbeck Offshore Services, Inc. (NYSE: HOS) (the "Company") announced today that it has agreed to sell $450,000,000 in aggregate principal amount of its 5.000% Senior Notes due 2021 (the "Senior Notes") pursuant to exemptions from registration under the Securities Act of 1933, as amended (the "Securities Act"). The closing is expected to occur March 28, 2013, subject to customary closing conditions. The Company intends to use net proceeds from the Senior Notes offering to fund all of its obligations under its pending cash tender offer (the "Tender Offer") for any and all of its outstanding 8.000% senior notes due 2017 (the "8.000% Notes") and related consent solicitation.

Chairman, President and Chief Executive Officer, Hornbeck Offshore Services, Inc. While this month’s selection for our INSIGHTS feature needs no introduction to maritime and energy insiders everywhere, Todd Hornbeck’s professional journey is worth pausing to reflect upon. Hornbeck, Chairman, President and Chief Executive Officer of Hornbeck Offshore Services, Inc. (NYSE:HOS), founded the company in 1997. Until 2002 Mr. Hornbeck served as the President and Secretary of the company, when he was appointed Chief Executive Officer and then, Chairman of the Board in 2005.

Eastern Shipbuilding Group, Inc. Signs Two Option HOSMAX310 OSV’s with Hornbeck Offshore Services, Inc. Eastern Shipbuilding Group, Inc. has announced that Hornbeck Offshore Services, Inc. has exercised two of its twenty-four option, 302’x64’x26’ HOSMAX310 Offshore Support Vessels. Eastern is now under contract to construct ten of these vessels for Hornbeck. The two additional option vessels are being built to the STX SV310 design from STX Marine. These vessels have been designated as the HOSMAX series by Hornbeck and are  USCG…

VT Halter Marine, Inc. (VT Halter Marine), a subsidiary of VT Systems, Inc. (VT Systems), today announced that Hornbeck Offshore Services, Inc. (NYSE: HOS) has exercised the options for two additional Offshore Supply Vessels (OSV), valued at a total of US$89m with deliveries expected in the fourth quarter of 2014 and first quarter of 2015. VT Halter Marine announced on 18 November last year that it had secured the contract to construct eight 319ft long Offshore Supply Vessels (OSV) for about US$353m with options for up to 24 additional identical vessels. These vessels are constructed in its yards at Moss Point Marine and Halter Moss Point with deliveries of the first and eighth vessels planned for in October 2013 and September 2014 respectively.

Hornbeck Offshore Services Inc. announced today that the previous cash tender offer (the "Offer") for any and all $300,000,000 aggregate principal amount of its 6.125 percent Senior Notes, due 2014 (CUSIP 440543 AB 2), (the "2004 Notes"), expired as scheduled at 11:59 p.m. Eastern time on March 29, 2012 (the "Expiration Time"). Including the tendered 2004 Notes the Company had announced receiving on March 15, 2012, the Company accepted and made payment for $252,205,000 in aggregate principal amount of 2004 Notes validly tendered pursuant to the Offer. The Company also announced that, on April 30, 2012, it will redeem the entire balance of $47…

COVINGTON, La., April 21, 2011 /PRNewswire via COMTEX/ -- Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today that it will release its first quarter 2011 financial results at approximately 6:00 a.m. Eastern on Thursday, May 5, 2011. In conjunction with the release, the Company has scheduled a conference call, which will be broadcast live over the Internet, on Thursday, May 5, 2011 at 10:00 a.m. Eastern (9:00 a.m. Central). Thursday, May 5, 2011 at 10:00 a.m. Eastern (9:00 a.m.

Hornbeck Offshore Services, Inc. (NYSE:HOS) announced today results for the first quarter ended March 31, 2011. First quarter 2011 revenues decreased 16.1% to $72.3 million compared to $86.2 million for the first quarter of 2010 and decreased 25.7% compared to $97.3 million for the fourth quarter of 2010. Operating income was $0.7 million, or 1.0% of revenues, for the first quarter of 2011 compared to $15.7 million, or 18.2% of revenues, for the prior-year quarter; and $18.7 million, or 19.2% of revenues, for the fourth quarter of 2010.

Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today that John T. Rynd and Kevin O. Meyers, Ph.D. have been appointed to its Board of Directors (the "Board"), effective June 23, 2011. Mr. Rynd and Dr. Meyers were appointed to fill the vacancies created by a prior resignation and the Board's decision to increase the number of its directors from seven to eight members. In addition, at the Company's Annual Meeting on June 23, 2011, the shareholders reelected Todd M. Hornbeck and Patricia B. Melcher to the Board. John T. Rynd. Since June 2008, Mr. Rynd, 54, has served as the Chief Executive Officer and President, and as a director, of Hercules Offshore, Inc. (NASDAQ: HERO), a publicly traded global provider of offshore contract drilling, liftboat and inland barge services.

Hornbeck Offshore Services, Inc. has announced the execution of definitive contracts for the construction of sixteen high-specification offshore supply vessels ("OSV"), in connection with its latest newbuild construction program announced on November 7, 2011. This is the Company's eighth newbuild vessel program since its inception in 1997, and its fifth newbuild program involving state-of-the-art, technologically advanced new generation OSVs. The Company has separately contracted with VT Halter Marine, Inc. of Pascagoula, Mississippi and with Eastern Shipbuilding Group, Inc. of Panama City, Florida for the construction at each yard of eight 300 class vessels with options to build additional such vessels should future market conditions warrant.

STX Marine (STXM) is pleased to congratulate Eastern Shipbuilding Group on the award by Hornbeck Offshore Services Inc. for the design and construction of eight STXM designed offshore support vessels. The SV300 and SV310 series vessels are derived from well proven designs recently delivered to the US Gulf Coast and they will have a deadweight of approximately 5500 LT and 6070 LT respectively. The vessels shall be designed to meet the requirements of the DP2, FiFi 1 and ENVIRO notations from ABS as well as be in accordance with the latest applicable Marpol and IMO regulations.