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Thursday, January 18, 2018

Gulfmark Americas News

Alabama Shipyard to Build GulfMark PSV's

BAE Systems' Alabama Shipyard contracted to build Platform Supply Vessels for GulfMark Americas. GulfMark Americas, Inc. has selected BAE Systems’ shipyard in Mobile, Alabama to build two new platform supply vessels that will serve offshore drilling operations. The contract reflects continued growth in U.S. commercial shipbuilding for BAE Systems and a major step forward in the company’s support to the oil and gas industry. Each of the GulfMark vessels will be qualified under the U.S. Jones Act and will measure 288 feet long and 62 feet wide. The selection also includes options to build two additional platform supply vessels in the future. The design for the BAE Systems-built Green DP2 vessels will be provided by MMC Ship Design & Marine Consulting, Ltd.

BAE Systems Starts Construction on GulfMark PSV

BAE Systems’ shipyard in Alabama has begun construction on the first of two platform supply vessels (PSVs) for GulfMark Americas, Inc. Executives and employees from both companies gathered recently at the BAE Systems’ facility in Mobile to oversee the initial cutting of steel for the vessel’s first module, which is expected to be delivered in the second half of 2014. The BAE Systems-built 300-Class Green DP2 vessels are designed by MMC Ship Design & Marine Consulting, Ltd. of Poland and will be based on similar PSVs currently under construction for GulfMark abroad. The new vessels will be U.S. flagged and will support the anticipated future demand in the Gulf of Mexico offshore market, as well as other areas around the world.

BAE Systems Lays Keel for Dump Scow

Steve Becker, vice president of Great Lakes Dredge & Dock Company, joins Victor Rhoades (seated), director and general manager of BAE Systems Southeast Shipyards, at a recent keel laying ceremony for the first of two dump scows under construction at BAE Systems’ Mobile, Alabama facility.

BAE Systems has completed another milestone in the construction of the first of two dump scows for Great Lakes Dredge & Dock Company. When complete, both vessels will be used to support dredging operations in the United States. Employees and executives from both companies recently gathered at the foot of the 98 ton keel block as Steve Becker, vice president of Great Lakes Dredge & Dock, drove the ceremonial wedge and welded his initials in the keel of the first vessel, Hull 107.

BAE Yards Busy with PSV Newbuilds, Ship Repairs

BAE Systems’ Mobile shipyard is adjacent to the 42 foot deep ship channel on Mobile Bay with direct access to and from the GOM.

BAE Systems continues to support the offshore energy market as it expands new construction efforts and maintenance, repair, overhaul and conversion operations at its shipyards in Mobile, Ala., and Jacksonville, Fla. Earlier this year, BAE Systems began construction on the first of two platform supply vessels for GulfMark Americas, Inc. The 300-Class DP2 vessels are designed by MMC Ship Design and Marine Consulting, Ltd. of Poland and will be based on similar platform supply vessels currently under construction for GulfMark abroad. The green vessels will be U.S.

Keppel Delivers Sea Cheyenne for Gulfmark

Keppel Singmarine Pte Ltd (Keppel Singmarine), a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has delivered an Anchor Handling Tug/Supply (AHTS) vessel to Gulfmark Offshore Inc (Gulfmark) on schedule. The 140-ton bollard pull vessel was christened Sea Cheyenne by Rex Carroll Ross, wife of Rex Ross, Director of Gulfmark Offshore, at a naming ceremony on October 27, 2007. This is the third of eight vessels which Keppel Singmarine is building for the company since 2003. The design of the vessels is developed by Marine Technology Development (MTD), the ship design and development arm of Keppel O&M. Gene Leech, Executive Vice-President of Gulfmark Offshore, said, “Keppel Singmarine has once again delivered their vessel to us on time and to our full satisfaction.

Keppel Delivers Sea Cheyenne for Gulfmark

Keppel Singmarine Pte Ltd (Keppel Singmarine), a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has delivered an Anchor Handling Tug/Supply (AHTS) vessel to Gulfmark Offshore Inc (Gulfmark) on schedule. The 140-ton bollard pull vessel was christened Sea Cheyenne by Rex Carroll Ross, wife of Rex Ross, Director of Gulfmark Offshore, at a naming ceremony on October 27, 2007. This is the third of eight vessels which Keppel Singmarine is building for the company since 2003. The design of the vessels is developed by Marine Technology Development (MTD), the ship design and development arm of Keppel O&M. Gene Leech, Executive Vice-President of Gulfmark Offshore, said, “Keppel Singmarine has once again delivered their vessel to us on time and to our full satisfaction.

BAE Systems Starts Construction on Dump

BAE Systems Mobile Shipyard

BAE Systems has begun construction on the first of two dump scows for Great Lakes Dredge & Dock Company. Employees and executives from both companies gathered yesterday for a ceremony to mark the start of construction for the first module, which will weigh approximately 87 tons. When complete, the entire first vessel will weigh about 1,600 tons and measure 295 feet long and 62 feet wide, with a draft of 17 feet. The second vessel, which is scheduled to start in January, will be of the same dimensions and capacity. Both 7,500-cubic-yard, split bottom dump scows will be used to support U.S.

Keppel Singmarine Wins AHTS Contract

AHTS Coloso built and delivered to Gulfmark Offshore earlier this year. Keppel Singmarine, a builder of offshore support vessels, won a $230 million contract to build six new Anchor Handling Tug/Supply (AHTS) vessels for Gulfmark Offshore. Two of these six 10,700 bhp AHTS vessels of 2,700 dwt each will be built in the Keppel Nantong Shipyard. This is the first contract for Keppel’s newly acquired shipyard in China. The first vessel is expected to be delivered in the third quarter of 2007, with the final delivery in the third quarter of 2008. Customized to Gulfmark’s requirements, the six vessels were designed by Keppel’s Marine Technology Development (MTD) and are being built to meet the growing demand of Gulfmark Offshore’s customers in Southeast Asia.

GulfMark Options to Build Second Aker Vessel

GulfMark Offshore, Inc. has exercised an option to build a second Aker PSV09 design vessel. This vessel, which will be an identical sister ship to the Aker PSV09 currently under construction in Norway, is a 4,850 deadweight ton, diesel electric powered platform supply vessel. The purchase price for this vessel is approximately $30 million, with delivery currently expected during the third quarter of 2007. GulfMark will be the majority investor in a joint venture for the construction of the vessel. GulfMark has elected to purchase 100 percent of the first Aker PSV09 and has the right to purchase this vessel upon pre-agreed terms. Including this vessel…

GulfMark Offshore Reports 3Q Profit Surge

According to the Houston Chronicle, GulfMark Offshore Inc., said stronger daily rates for its services and increased use of its fleet sent third-quarter profit up sharply. Net income more than tripled to $39.9 million, or $1.91 per share, from $13 million, or 63 cents per share, a year ago. The recent quarter included a 32-cent boost from the sale of a vessel. Excluding the sale, earnings would have been $1.59 per share. Revenue rose to $75.8 million from $53 million a year ago. Rates for the company's vessels appreciated 45 percent for its North Sea based fleet, compared with the prior year, and rose 22 percent for its Southeast Asia-based fleet. Rates rose a more modest 5 percent for its Americas-based vessels.

GulfMark Offshore Reports 4Q Profit

GulfMark Offshore Inc., said fourth-quarter profit more than tripled as the company's fleet fetched higher average contract rates. Net income increased to $30.6m, or $1.42 per share, from $8.2 million, or 39 cents per share, in the 2005 quarter. The latest period includes a gain of $3.6 million, or 17 cents per share, on the sale of a vessel. Revenue increased 34 percent to $69 million from $51.6 million in the prior-year period. Higher daily contract rates in the North Sea and Southeast Asia drove sales growth, although a slight decline in daily rates for its Americas-based vessels partially offset the gains. Historically high oil prices over the past year have spurred increased drilling activity worldwide, as well as demand for drilling services. Source: Forbes

GulfMark Offshore Reports 1Q

GulfMark Offshore, Inc. (NYSE:GLF) announced results of operations for the three months ended March 31, 2009. Net income for the first quarter of 2009 was $14.2 million, or $0.56 per diluted share. Excluding special items, which net to $0.76 per diluted share and which are detailed further below, earnings per share for the first quarter of 2009 was $1.32 per diluted share. Revenue for the first quarter of 2009 was $108.8 million, an increase of 30.5% over the same period in the prior year. Operating income, excluding special items, was $43.2 million in the first quarter of 2009, an increase of 25% over the same period in 2008. GulfMark Americas, which was acquired on July 1, 2008, contributed revenue of $36.3 million during the first quarter and operating income of $15 million.

Gulf Offshore Selects CapRock VSAT

CapRock Communications announced a three-year contract with Gulf Offshore – a wholly owned subsidiary of GulfMark Offshore Inc. – to deploy its broadband maritime service, SeaAccess Communications, onboard its fleet operating in the North Sea and along the coast of Africa. SeaAccess’ VSAT (Very Small Aperture Terminal) services will enable GulfMark to extend its corporate IT network and applications to its vessels and provide onboard crew morale services. The GulfMark Group operates significant fleets in the North Sea, Southeast Asia and the Americas. Having evolved into a global marine transportation provider focused on the continuous development of its technologically advanced fleet, deploying the always-on VSAT service is a natural extension of its mission.

Seaspan Marine Names Reynolds President

Bart Reynolds (Photo: Seaspan)

Bart Reynolds has been hired to take over as president of Seaspan Marine, the company announced today. Appointed to lead Seaspan’s Marine Division, Reynolds joins the company with more than 20 years of experience in leadership positions and senior management. In the last 15 years, Reynolds has held positions in the offshore supply boat business in the United States, West Africa, the Mediterranean and Latin America, most recently serving as Vice President, Americas at GulfMark Offshore Inc. Prior to that, he worked at Tidewater Marine LLC as Area Manager, U.S. Operations.

GulfMark Files $250M Shelf Registration

GulfMark Offshore, Inc. (Nasdaq:GMRK) announced it has filed a $250 million shelf registration statement on Form S-3 with the Securities & Exchange Commission to register the offer and sale by the Company from time to time of up to $250 million of various securities, which may include common stock, warrants, debt securities, and or preferred stock. "We have no immediate plans to offer any of the securities for sale, but believe it is prudent to have registered securities available to fund future opportunities," said president and chief operating officer, Bruce Streeter. He added that the new shelf registration statement replaces the one filed in 2000 that expired. GulfMark Offshore, Inc.

GulfMark Offshore Announces Vessel Sales, Delivery and Acquisition

GulfMark Offshore, Inc. today announced the completion of the sale of the Highland Patriot, the Highland Sentinel, the delivery of the newbuild Sea Sovereign, and the acquisition of an option vessel, Hull 861B. The Highland Patriot, a 1982 built 233 ft. platform supply vessel operating in Southeast Asia and the Highland Sentinel, a 1979 built 266 ft. platform supply vessel operating in the North Sea were sold in September and October, respectively. Both are expected to be converted for seismic work. The combined sales price of the two vessels was approximately $18 million resulting in a pre-tax gain of approximately $10 million, of which approximately $6.6 million will be recognized in the 3rd quarter and $3.4 million in the 4th quarter of 2006.

Bender Fights Bankruptcy

Bender Shipbuilding & Repair, based in Mobile, Alabama, said that a petition has been filed to put the company into involutary bankruptcy. The company had yet to be served, but it did say that it is in contractual disputes with two of the three creditors who filed the petition, including GulfMark Offshore Inc. Bender disputes GulfMark's claims and believes that the petition is invalid. "It is unfortunate that GulfMark has chosen to go this route," said Tom Bender, president and CEO of Bender, in a prepared release. "I am optimistic that the involutary petition will be dismissed quickly."

Rigdon to Remain in New Orleans

GulfMark Offshore’s previously announced agreement to purchase Rigdon Marine entails that the combined company will operate 90 vessels, with 16 more under construction for delivery through 2010. Houston-based GulfMark has minimal operations, making the retention of Rigdon Marine's GoM presence significant, Energy Current reported. Rigdon Marine employs over 300 personnel, and employment is expected to grow to over 400. Rigdon Marine expects to keep its operations based in . Source: Energy Current

EMC VSAT Service for Seven GulfMark PSVs

EMC has taken orders to supply VSAT equipment and services for seven platform supply vessels in the North Sea as part of a four-year fleet agreement with GulfMark (Norway). The scope of supply for each vessel includes a 60-inch Ku-band stabilized antenna and below-deck terminal interfaced with the ship’s network and third-party GSM voice system. EMC will also provide the satellite airtime for crew welfare and mission-critical voice and data communications. The installations will take place over the next 12 months as the vessels become available. “GulfMark’s vessels operate in an extremely demanding market segment with rigorous requirements for uptime, connectivity, bandwidth, data throughput and content,” said Gilles Gillesen, president of EMC’s commercial marine business unit.

GulfMark Offshore to Acquire Rigdon Marine

GulfMark Offshore, Inc. announced it had entered into a definitive purchase agreement to acquire Rigdon Marine Corporation (RMC), a major operator of technologically advanced offshore supply vessels. The purchase will add the RMC management team, an experienced group of mariners and a fleet of modern vessels designed to support the expanding demand in the deepwater . The combined company will initially operate 90 vessels with an additional 16 vessels under construction for delivery through 2010.

GulfMark Offshore Appoints CFO

GulfMark Offshore, Inc. announced that it has appointed James (Jay) M. Mitchell as Executive Vice President and Chief Financial Officer (CFO). Mr. Mitchell replaces Quintin Kneen who, as previously announced, will assume the role of President and Chief Executive Officer (CEO) on June 4. Mr. Mitchell brings over two decades of energy background to GulfMark, including past executive roles as a private company CEO and a public company CFO. His experience includes strategic planning, mergers and acquisitions, finance, accounting, treasury, taxation, risk management and investor relations. His most recent experience was as CEO of the privately held Flex Energy. Previously, Mr.

Drilling Deeper Into Gulfmark

With oil prices on a boil, Gulfmark Offshore, which provides offshore marine services to oil and Natural gas companies, has been a key beneficiary. The stock has doubled in the past two years. In February this year, the stock broke above its 50-day and 200-day moving averages and has rallied about 40% in the past 2 1/2 months, touching an all-time high last week. Currently, the stock is trading at $57.88, about 10.37 times its 2008 estimates. The company reports first quarter results before the market opens on April 30, 2008. Analysts expect the company to report earnings of $1.10 a share. In the last 60 days, analysts have revised up earnings estimates for Gulfmark Offshore by a penny to $1.10 for the first quarter and by 11 cents to $5.58 for the full year. Source:  RTT

Coast Guard Seizes 12,000 Pounds of Cocaine

Photo: USCG

The crew of the U.S. Coast Guard Cutter Steadfast returned home to Astoria, Oregon in late December after making several drug busts while on patrol in international waters off the coasts of Mexico and Central America. Over the course of a 50-day counterdrug patrol in the Eastern Pacific, Steadfast crewmembers interdicted five separate vessels engaged in suspected illegal drug smuggling. During the patrol crewmembers detected and boarded a low profile vessel, a custom fabricated boat specifically built to evade law enforcement.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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