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Hvide Marine Inc News

21 Apr 2014

Time Charter of DP-1 Research Vessel Fixed

Photo courtesy Marcon

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.

07 Dec 2001

2002 International Golden Compass Award Recipients Announced

Seafarers’ House at Port Everglades, Fla., has announced the recipients of its 2002 International Golden Compass Award. Alan Kehrer, director of cruise marketing for Port Everglades, and the late Carl Thorsen of Eller & Company, will both be honored for their joint efforts and accomplishments to develop Port Everglades as one of the world’s leading cruise ports. A gala dinner to present the awards will be held in Fort Lauderdale on April 13, 2002. Kehrer began his professional career in 1963 with American Export Lines. In 1972, he joined the Business Development staff of Port Everglades. When Port Everglades began its business diversification plan in 1976, Kehrer emerged as its Manager of Passenger Development.

07 Apr 2000

Who's News

The world's marine insurers collectively lost $3 billion in 1999, Norway's Central Union of Marine Underwriters (CEFOR) said. Cefor's calculation uses the collective experience of marine insurers in Norway - one of the world's major marine insurance markets - and extrapolates the results to the global industry. Cefor's md said that not even in their previous worst case estimates did CEFOR anticipate anything like this. The principal reason for the losses is continuing reduction in insurance premium rates, said Formso. On CEFOR's current estimates, rates in 2000 have dropped to 31 per cent of their 1994 levels. Hvide Marine Inc. Hvide Marine Inc. said last Monday that chairman and CEO Jean Fitzgerald has been hospitalized with a heart condition and was to undergo surgery.

27 Jul 1999

Hvide Marine Sells Six Vessels to Tidewater

Hvide Marine Inc. signed an agreement in principle with Tidewater Inc. for the sale of six offshore support vessels for $22 million. The price includes the assumption by Tidewater of Hvide's remaining obligations for the cost of construction of three of the vessels that have not yet been delivered. The transaction, which has been approved by the Board of Directors of both companies, is subject to customary conditions, including the negotiation of definitive agreements, and is expected to close in early July. The six vessels being sold to Tidewater are part of the company's Seabulk Offshore fleet and include three vessels currently in operation - one 205-ft. platform supply vessel and two tractor tugs - and three 152-ft crewboats currently under construction.

03 Apr 2000

Hvide CEO Hospitalized

Hvide Marine Inc. chairman and CEO Jean Fitzgerald has been hospitalized with a heart condition and was to undergo surgery Monday. Hvide, which provides marine support and transportation services, said Fitzgerald will be out of the office for at least four to six weeks. During his absence, president and COO Eugene Sweeney will assume responsibility for day-to-day operations and board member James Gaffney will serve as interim chairman.

25 May 2000

News

ConAgra Inc., the second largest U.S. food manufacturer, has agreed to sell American Commercial Lines LLC (ACL) its large U.S. inland barge fleet and operations. Financial terms of the deal, which ConAgra said was part of ongoing series of strategic divestments, were not announced. ACL will acquire 930 owned and chartered barges, nine chartered towboats and one dry dock, the companies said in a joint statement. The deal includes Peavey Barge Lines, Brown Water Towing Inc. and Superior Barge Lines, Inc. The transaction is subject to regulatory approval but is expected to be completed in the next 30 days, the companies said. Greg Heckman, president and CEO, ConAgra Trade Group, said, "Our decision to sell the barge company is a strategic one.

03 Aug 2000

Repair Market Gains Muscle

Shipyards around the world are facing increasingly stringent environmental rules and regulations, adding additional expense to a business sector with an already reputed thin bottom line. Nonetheless, to stay in business shipyards must continuously enhance their capabilities and compliance, in order to successfully woo and complete lucrative jobs. U.S. shipyards have aggressively been augmenting traditional repair expertise with the tools and systems needed to prosper in 2000 and far beyond. The ensuing editorial updates significant activities and enhancements at U.S. ship repair yards. Detyens Shipyards based in North Charleston, S.C., is continuing its upbeat course of developing trusted relationships with customers along the U.S. East Coast — specifically with Hvide Marine, Inc.

11 Jan 2001

People & Company News

D.F. International logistics service provider D.F. Young, Inc. has announced the relocation of its headquarters office from New York City to Jersey City, N.J. in the first quarter of 2001. The company is leasing 14,000 sq. ft. at 1 Journal Square in Jersey City, after operating from downtown New York for most of its 97-year history. "When this company was started in 1903, all the shipping companies and banks were located in downtown Manhattan," said Thomas Mosimann, president of D.F. Young. "But the port has moved, and most of the other forwarders have followed it to New Jersey over the last 10 to 15 years. D.F.Young already has its Marine Department located in Port Elizabeth, N.J., as well as offices across the U.S. in Jamaica, N.Y.

28 Feb 2001

Hvide Marine To Be Renamed Seabulk International

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.

08 Mar 2001

Port Everglades Towing Celebrates 43 Years of Service

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.

08 Mar 2001

Hvide to Be Renamed Seabulk International

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.

06 Aug 2007

Anderson Nominated for FMC Commissioner

The President intends to nominate A. Paul Anderson, of Florida, to be a Commissioner of the Federal Maritime Commission, for the remainder of a five-year term expiring 06/30/12, and to designate him Chairman. Mr. Anderson currently serves as a Commissioner of the Federal Maritime Commission. Prior to this, he served as Vice President of Public Affairs and Government Relations at J.M. Family Enterprises. Earlier in his career, he served as Director for Public Affairs, Assistant to the President and Marketing Manager of Hvide Marine, Inc.

30 Apr 2001

ABS Elects Kurz And Kwok To Board Of Directors

Gerhard E. Kurz, president and CEO, Seabulk International, Inc. and Joseph Kwok, COO, Neptune Orient Lines Ltd. were elected to the ABS Board of Directors, by the ABS Council, following the recent Annual Members Meeting of the classification society in New York. Kurz is responsible for the revitalization of Seabulk International, Inc. (formerly Hvide Marine Inc.), and Kwok is COO of the NOL group of companies and also its CEO of chartering. He is responsible for the entire group's fleet operations. Also elected to the ABS Council at the Annual meeting were Choo Chian Beng, chairman and managing director, Keppel FELS; Mustafa A. Jalali, president and CEO, Aramco Services Company; Dr. Frank F.H. Lu, chairman, Taiwan Navigation Co.; and A.P. (Paul) Revere, president, Sea River Maritime.

24 Aug 2001

Tugz Given Green Light To Enter FL Market

Tugz International L.L.C., an affiliate of the 101-year old The Great Lakes Towing Company, and a member of The Great Lakes Group, announced Tuesday that the Broward County (Florida) Board of County Commissioners, by a 6-3 vote, awarded Tugz a tugboat and towing service franchise for Port Everglades, Florida. This action put an end to the 43-year monopoly on tug service in the port previously held by Seabulk International, Inc., formerly known as Hvide Marine, Inc. "We are really excited about the opportunity to serve this growing, dynamic port," said Tugz President, Ronald C. Rasmus. "The Z-Drive tractor tugs we are providing for Port Everglades…

24 Aug 1999

Not Dead in the Water

While Z-Drive can still be considered a "revolutionary" design trait of today's tugboats, engineers aren't resting on their laurels. New technical standards being introduced are testimony to designers' creativity and imagination; and the functionality is improved, as well. The use of tugs with either Z-drive or VSP propulsion have led to much faster, safer and more efficient ship-assist operations, without fail, says Robert Allan, of the marine engineering firm, Robert Allan Ltd. In fact, he adds, some tug companies with Z-drive tugs have had insurance premiums lowered because of the reduced risk of them damaging an attended ship with better tugs. But in no way have tugs evolved to their highest achievable level. The birth of such innovative designs was not unexpected, says Allan.

27 Aug 1999

Halter Begins Construction of Three Second Generation Hvide SDM

Halter Marine, Inc. has begun construction of three second generation Ship Docking Modules (SDM) at its Lockport, La. shipyard for Hvide Marine, Inc. The new tugs, designated SDM Mark II, follow the three original Halter-built SDMs, New River, St. Johns and Escambia. Two of the new vessels, Suwanee River and Peace River, are scheduled for delivery in 1999, and Kissimmee River, the third Mark II, will be delivered in 2000. The patented, double-ended 90 x 50 ft. SDM design, which requires only two crew members to operate, was conceived by Erik Hvide, chairman and president of Hvide Marine and refined by the Elliot Bay Design Group, Seattle, Wash. The design is critical to maneuvering large ships in and out of narrow ports and harbors.

31 Aug 1999

Hvide Marine Announces 4Q and Full Year Results

Hvide Marine Inc. reported net income in the fourth Quarter ended December 31, 1998 totaled $1.9 million, compared with $9.8 million in the year-earlier period. Revenues for the quarter grew to $105.9 million from $67.4 million a year ago, as a result of increases in fleet size. For the full year, income before an extraordinary item totaled $22.5 million versus $27.6 million before an extraordinary item in 1997. After a loss related to the early extinguishment of debt, net income in 1998 was $21.7 million compared with $25.5 million in 1997. Revenues of $401.9 million in 1998 were up from $210.9 million in 1997, reflecting the growth in the company's fleet from 220 vessels to 282 vessels.

31 Aug 1999

Halter Begins Construction of Three Second Generation Hvide SDM

Halter Marine, Inc. has begun construction of three second generation Ship Docking Modules (SDM) at its Lockport, La. shipyard for Hvide Marine, Inc. The new tugs, designated SDM Mark II, follow the three original Halter-built SDMs, New River, St. Johns and Escambia. Two of the new vessels, Suwanee River and Peace River, are scheduled for delivery in 1999, and Kissimmee River, the third Mark II, will be delivered in 2000. The patented, double-ended 90 x 50 ft. SDM design, which requires only two crew members to operate, was conceived by Erik Hvide, chairman and president of Hvide Marine and refined by the Elliot Bay Design Group, Seattle, Wash. The design is critical to maneuvering large ships in and out of narrow ports and harbors.

02 Sep 1999

Hvide Christens Fourth Lightship Tanker

Hvide Marine Inc. christened HMI Ambrose Channel, the first all-new petro-chemical carrier built in the U.S. in nearly two decades and the fourth in a series of five double-hull lightship tankers being built for Hvide by Newport News Shipbuilding under the Double Eagle program. The christening ceremony took place at Newport News Shipbuilding in Newport News, Va. Named after the USCG lightship which formerly stood watch at the entrance to New York Harbor, HMI Ambrose Channel is jointly owned by wholly owned subsidiaries of Hvide and Newport News. She will be operated by Hvide Marine and marketed through Hvide's Ocean Specialty Tankers Corporation subsidiary in Houston.

02 Sep 1999

Hvide Christens Fourth Lightship Tanker

Hvide Marine Inc. christened HMI Ambrose Channel, the first all-new petro-chemical carrier built in the U.S. in nearly two decades and the fourth in a series of five double-hull lightship tankers being built for Hvide by Newport News Shipbuilding under the Double Eagle program. The christening ceremony took place at Newport News Shipbuilding in Newport News, Va. Named after the USCG lightship which formerly stood watch at the entrance to New York Harbor, HMI Ambrose Channel is jointly owned by wholly owned subsidiaries of Hvide and Newport News. She will be operated by Hvide Marine and marketed through Hvide's Ocean Specialty Tankers Corporation subsidiary in Houston.

10 Sep 1999

Hvide Marine Files Voluntary Chapter 11

Hvide Marine Inc. has submitted a voluntary Chapter 11 filing in the U.S. Bankruptcy Court in Delaware. This filing allows Hvide to operate its businesses in a regular fashion under court protection with adequate funding, while it continues discussions with representatives of specific major creditors and others on a restructuring plan that would deleverage its balance sheet, restore liquidity and enhance its competitive ability in the marketplace. To ensure liquidity throughout this period of reorganization, the company has secured a new $60 million debtor-in-possession (DIP) credit facility from its current bank syndicate, led by Citibank and BankBoston. The company expects to break off from Chapter 11 later this year or in early 2000.

09 Sep 1999

Hvide Marine Announces Voluntary Chapter 11 Filing

Hvide Marine Inc. has submitted a voluntary Chapter 11 filing in the U.S. Bankruptcy Court in Delaware. This filing allows Hvide to operate its businesses in a regular fashion under court protection with adequate funding, while it continues discussions with representatives of specific major creditors and others on a restructuring plan that would deleverage its balance sheet, restore liquidity and enhance its competitive ability in the marketplace. To ensure liquidity throughout this period of reorganization, the Company has secured a new $60 million debtor-in-possession (DIP) credit facility from its current bank syndicate, led by Citibank and BankBoston. Upon completion of this restructuring program, the Company expects to break off from Chapter 11 later this year or in early 2000.

15 Oct 1999

Hvide Files Reorganization Plan

Hvide Marine, Inc. has filed a proposed Plan of Reorganization that, if confirmed, would deleverage its balance sheet, restore liquidity and enhance the Company's competitive position in the marketplace. The Plan is a result from discussions with the Official Committee of Unsecured Creditors appointed in Hvide's Chapter 11 case, including representatives of the holders of about 63 percent of the company's $300 million of 8 3/8 percent senior notes would exchange their Senior Notes for 9,800,000 shares of common stock of the reorganized Hvide Marine, representing 98 percent of the new common equity. Holders of the Trust Convertible Preferred Securities would receive 200…