Harvey Gulf to Acquire ACO's Offshore Vessels and Related Assets

MarineLink.com
Thursday, September 12, 2013
Photo: Abdon Callais Offshore, LLC

Harvey Gulf International Marine, LLC and Abdon Callais Offshore, LLC (ACO) have executed a definitive agreement whereby Harvey Gulf is to purchase substantially all of ACO’s assets and business. Purchase includes 48 offshore supply vessels (OSVs), of which four are currently under construction.

With its roots in the Callais family tracing back to 1945 and under the later leadership of Harold J. Callais followed by his sons, ACO has long been recognized in the industry as a high quality marine transportation company providing multiple sized, technologically advanced OSVs and related services to oil and gas exploration and production companies and service providers primarily working in the U.S. Gulf of Mexico market.

ACO has one of the youngest and largest fleets operating in the U.S. Gulf of Mexico with a focus on providing a wide variety of cargo and personnel transportation services to both shallow water and deepwater locations. Of ACO’s 48 vessel fleet, 92% is dynamically positioned (DP1 or DP2) and 58% is of 205 feet in length and longer.

This acquisition expands Harvey Gulf’s vessel classes and allows Harvey Gulf to broaden its service offering to customers in the U.S. Gulf of Mexico. The transaction is expected to close in Q4 2013.

Mayer Brown LLP has served as legal advisor to Harvey Gulf in connection with the transaction.

Raymond James & Associates, Inc. has served as financial advisor, and Baldwin Haspel Burke and Mayer, LLC has served as legal advisor, to ACO in connection with the transaction.

harveygulf.com
 

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Egypt Picks Jordan LNG Cargo Winners

Egypt has picked Shell, Vitol and Trafigura in a tender to supply four cargoes of liquefied natural gas (LNG) via Jordan's Aqaba import terminal, trade sources said.

Cameroon Awards Kribi Deepwater Contract

Cameroon has awarded a contract for its Kribi port to a consortium led by French logistics group Necotrans, the two parties said. The deepwater port will allow

USCG Rescues Unconscious Boater

The Coast Guard rescued an individual from a marsh flat in Barataria Waterway located approximately six miles north of Grand Isle, Tuesday. Coast Guard Sector

Shipbuilding

China Shipping Line to Buy 10 Vessels

China Shipping Container Lines Co is planning to buy around 10 ultralarge container ships for around $1.5 billion, despite the shipping industry struggles with a capacity glut, reports WSJ.

Subsea 7 Bags $150 million Offshore UK Contract Maersk

Offshore contractor Subsea 7 has been awarded a $150 million subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the development of the Culzean field in the UK North Sea.

Huntington Ingalls Cites Interest in Building US Icebreakers

Huntington Ingalls Industries Inc, which builds aircraft carriers and U.S. Navy warships, on Tuesday said it was keen to bid to build new icebreakers for the U.

Ship Sales

China Shipping Line to Buy 10 Vessels

China Shipping Container Lines Co is planning to buy around 10 ultralarge container ships for around $1.5 billion, despite the shipping industry struggles with a capacity glut, reports WSJ.

CMES Establishes Subsidiary for Valemax

China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set

Russian JV Close Acquisition of Prime Shipping

The Russian Joint Venture between Rosneft, Sberbank Investments and Pietro Barbaro S.p.A. closed the acquisition of the Pietro Barbaro Group shipping assets

News

Twelve Syrians Drown Trying to Reach Greece

At least 12 people believed to be Syrian refugees drowned as two boats sank after leaving southwest Turkey for the Greek island of Kos on Wednesday, a senior Turkish naval official said.

Egypt Picks Jordan LNG Cargo Winners

Egypt has picked Shell, Vitol and Trafigura in a tender to supply four cargoes of liquefied natural gas (LNG) via Jordan's Aqaba import terminal, trade sources said.

Cameroon Awards Kribi Deepwater Contract

Cameroon has awarded a contract for its Kribi port to a consortium led by French logistics group Necotrans, the two parties said. The deepwater port will allow

Vessels

China Shipping Line to Buy 10 Vessels

China Shipping Container Lines Co is planning to buy around 10 ultralarge container ships for around $1.5 billion, despite the shipping industry struggles with a capacity glut, reports WSJ.

CMA CGM's Profits Jump 67% in Q2

French shipping giant CMA CGM, reported a 66.7% jump in net profit to $156m in the second quarter of 2015. The result compared to a $94m net profit in the same period a year earlier.

CMES Establishes Subsidiary for Valemax

China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set

Mergers & Acquisitions

Cosco CSCL Merger Talks Continue

The closed-door talks on what is believed to be merger discussions between Cosco and China Shipping continue, reports local media.   According to JoC, the Chinese

Euronav Acquires $ 750 mi Facility

The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB

Russian JV Close Acquisition of Prime Shipping

The Russian Joint Venture between Rosneft, Sberbank Investments and Pietro Barbaro S.p.A. closed the acquisition of the Pietro Barbaro Group shipping assets

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.8074 sec (1 req/sec)