Hos Port News

It could be argued that no other sector of the maritime market has experienced a design innovation revolution quite like the Offshore Service Vessel (OSV) market. Driven by demands to supply people, gear and goods to offshore installations that are increasingly further from shore in deeper waters, today’s OSV is a far cry from those built only a decade ago. Maritime Reporter examines some of the recent innovations in design and function. Deepwater operations are increasingly demanding more personnel offshore, often for longer periods of time, placing a greater emphasis on crew accommodation.

Accommodations, Features and Comfort combine with Safety. All are key for Offshore Housing missions. Deepwater operations are increasingly demanding more personnel offshore, often for longer periods of time, placing a greater emphasis on crew accommodation. Now, accommodation and special features join safety as the key components for a new range of comfortable, large-scale offshore housing vessels. Emerging in this range is Hornbeck Offshore Services’ HOS Achiever. On its own, the vessel presents as a relatively normal offshore multipurpose vessel.

Deepwater operations are increasingly demanding more personnel offshore, often for longer periods of time, placing a greater emphasis on crew accommodation. Now accommodation and special features join safety as the key components for a new range of comfortable, large-scale offshore housing vessels. Emerging in this range is Hornbeck Offshore Services’ HOS Achiever, a ship perceived as relatively normal offshore multipurpose vessel. What’s unique about HOS Achiever, though, is what she accomplishes.

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.

Hornbeck Offshore Services, Inc. (NYSE:HOS) has introduced the HOS Centerline, a Jones Act qualified, 370-ft multi-purpose support vessel (MPSV) to its fleet. This HOS 370 design, with an 8,000+ deadweight-ton capacity represents the largest and most diverse DP-2 classed offshore supply vessel available today. The HOS Centerline is the only vessel in the world to have received certifications by the United States Coast Guard allowing operations as a supply vessel, industrial/construction vessel and as a petroleum and chemical tanker. The HOS Centerline was added to Hornbeck's fleet in February 2009 and achieved its multi-certifications under Subchapters “L’, “I”, “D” and “O” in October, 2009.

•    Hornbeck Offshore Services, Inc. (NYSE: HOS) announced results for the third quarter ended September 30, 2008. Third quarter 2008 revenues increased 15.2% to $109.1 million compared to $94.7 million for the third quarter of 2007. Operating income was $52.6 million, or 48.2% of revenues, for the third quarter of 2008 compared to $44.9 million, or 47.4% of revenues, for the prior-year quarter. Net income for the third quarter of 2008 was $33.5 million, or $1.24 per diluted share, compared to $28.9 million, or $1.09 per diluted share in the year-ago quarter. EBITDA for the third quarter of 2008 was $65.5 million compared to third quarter 2007 EBITDA of $54.3 million.