Gulf Island Shipyards Sues Hornbeck Offshore

October 8, 2018

Gulf Island Shipyards (GIS) has sued Hornbeck Offshore over what it says is the wrongful termination of two shipyard construction contracts for the final two vessels in the company's fifth offshore support vessel (OSV) newbuild program earlier this year.

Hornbeck, supplier of offshore transport services, including supply vessels, tankers and barges, primarily to support offshore, said in an SEC filing: "During the first quarter of 2018, the company terminated the two contracts because of GIS’s performance issues. In the lawsuit, GIS alleges claims for delay, hindrance, disruption and wrongful termination of the construction contracts and seeks various remedies."

It added, "The company intends to vigorously defend GIS’s claims, considers them to be without merit, and will respond to GIS’s lawsuit in due course."

GIS is an American manufacturer of specialized structures and marine vessels used in the energy sector.

A release from Hornbeck said that the company remains in discussions with the surety of the shipyard contracts to facilitate the completion of the construction of the vessels at a completion yard under the surety's performance bonds.

Related News

VARD to Build Hybrid Ocean Energy Construction Vessel for Island Offshore Ulstein Verft Begins Outfitting Olympic's Next CSOV Kongsberg Thrusters for Six Tunisian PA Tugs CMM Secures Funding to Facilitate Construction of Ethanol-Powered PSV Fleet Bollinger Names Andy Naquin Sales VP