Halter Marine Group Inc News

In 1993, Bouchard Transportation Co. christened the B. No. 230, which was the first double-hulled barge to enter service in the United States. Joined together for this milestone celebration was (pictured left to right): Mr. John Dane III, former President/CEO, Halter Marine Group Inc.; Mr. Gerhard Kurz, former President, Mobil Shipping and Transportation Company (MOSAT), a Mobil Oil-affiliated company; and Mr. Morton S. Bouchard Jr., former Chairman, BTC. The July 2018 edition of Maritime Reporter & Engineering News will feature a special “Bouchard Transportation Co.

Halter Marine Group Inc. launched a 329 ft. oceanographic survey ship for the U.S. Navy. The first ever in the Navy's history to be named through a contest, USNS Bruce C. Hezeen will collect data and physical samples from the world's oceans to provide the U.S. Navy with an understanding of its operating environment. Scheduled for delivery in December 2001, the vessel is the fifth of the T-AGS 60 class built at the Halter Moss Point.

Halter Marine Group, Inc. announced the company's net income for the quarter ended March 31, 1999 was $1.5 million on revenue of $238.3 million. This compares to net income of $539,000 on revenue of $189.4 million in the fourth quarter of fiscal 1998. For the fiscal year ended March 31, 1999, the company reported net income of $13.3 million on revenue of $998.1 million. For fiscal 1998, Halter Marine Group reported net income of $22.5 million on revenue of $670.2 million. Gross profit margins for the company's vessels, rigs and engineered products segments were 8.1 percent, 0.6 percent, and 20.3 percent, respectively, for the fourth quarter.

Shipbuilder Halter Marine Group Inc. confirmed it is in talks with an oilfield service company about a possible stock-for-stock merger. The company, which in January announced a sweeping restructuring to cut costs, said it cannot assure the talks will lead to a transaction. It also said it cannot guarantee a deal, if any, would represent a premium over current market prices. Halter Marine, which also builds offshore drilling rigs and engineered products serving the offshore energy industry, said it will not issue further comment until the talks are completed or are called off.

TDI-Halter, a Halter Marine Group, Inc. company, delivered Prisa 103, the last of three 180 x 75 x 15 ft. barges, to Sedco Forex, the drilling division of Schlumberger Limited. Prisa 101, 102 and 103 are part of an overall conceptual design approach, in which Sedco Forex permanently integrated the well intervention structure, equipment and systems to facilitate conventional light drilling and well re-entry with coiled tubing and other well intervention operations. This concept provides operators a cost-effective tool by utilizing specially-adapted multi-function service equipment, which is built-in to ensure flexibility, reduce overall non-productive time and optimize deployment of services by improving the logistics and reducing the running costs.

Halter Marine Group, Inc. announced the company's financial results for the quarter ended December 31, 1998 were a loss of one million dollars, on revenue of $279.2 million. This compares to net income of $8.8 million, on revenue of $180.6 million in the third quarter of fiscal 1998. For the nine months ended December 31, 1998, the company reported net income of $11.8 million, on revenue of $759.8 million. For the comparable 1997 period, Halter Marine Group reported net income of $22 million, on revenue of $480.8 million. The net loss for the quarter is primarily attributable to cost overruns on two drill barge contracts comprising a total of six barges. Results for the quarter also reflect the positive impact of $6.9 million in income tax benefit that was recorded during the period.

Halter Marine Group, Inc., Gulfport, Miss. has signed a contract with Great Lakes Marine Leasing, LLC, to build a 740 ft. self-unloading dry bulk cargo barge for service on the Great Lakes. The barge, which will be named Great Lakes Trader, will be operated by Van Enkevort Tug and Barge out of Escanaba, Mich. The barge will be built and launched in two halves at Halter's Gulf Coast Fabrication, Inc. in Pearlington, Miss. and towed to New Orleans where the two halves will be joined in Halter Gulf Repair's large floating drydock. Final outfitting will be completed at Halter Gulf Repair by the owner. At 740 ft. overall length with a 78 ft. beam and 45 ft. depth, it will be the largest vessel ever constructed by Halter. It will be the maximum size permitted through the St.

Halter Marine, Inc., a subsidiary of Halter Marine Group, Inc., and Empresa Nacional Bazan de C.N.M., S.A., of Madrid, Spain, have formed Halter-Bazan, a joint venture to build Bazan-designed aluminum passenger/vehicle fast ferries at a Halter facility in the U.S. of an "Alhambra" Class fast ferry. Construction for an undisclosed customer is expected to begin in February 1999 on a 410 ft., 1,250 passenger/240 vehicle, diesel/waterjet, 40-knot monohull ferry. Completion is planned by year-end 2000. Halter-Bazan is negotiating an option for a second similar ferry for the same European operator. Bazan-built "Mestral" and "Alhambra" Class ferries are now operating on routes in Europe and South America.

Halter Marine Inc. of Halter Marine Group, Inc. Gulfport, Miss. has been awarded a $53.6 million contract from the U. S. Navy to build a T-AGS 60 class oceanographic research ship. The vessel will be the sixth of its class, all designed, built or under construction at Halter. The contract also includes spare parts and technical services. Construction will begin in approximately 60 days at Halter's Moss Point, Miss. shipyard and delivery is planned for Dec. 2001. In making the announcement, John Dane III, chairman, president and CEO of Halter Marine Group, Inc. said, "This contract is the result of the Navy exercising an option from a previous contract.

Halter Marine Group, Inc. announced the company's net income for the first quarter ended June 30, 1999 was $1.9 million on revenue of $192.1 million. This compares to net income of $6.1 million on revenue of $209.8 million in first quarter of fiscal 1999. The company's fiscal year ends March 31. "The company's first-quarter earnings represent continued improvement in Halter's operating results compared to our two most recent quarters," said John Dane III, chairman, president and CEO. "Gross margins in the company's vessels segment exceeded those of both the prior quarter and the year-ago quarter as the impact of our Project ABC business process improvement program continues to be realized.

TDI-Halter, a Halter Marine Group, Inc. company, Gulfport, Miss., delivered Prisa 103, the last of the trio of newly-built drilling barges to Sedco Forex, the drilling division of Schlumberger Limited. Measuring 180 x 75 x 15 ft. (54.8 x 22.8 x 4.5 m), Prisa 101, 102 and 103 are part of an overall conceptual design approach - an approach in which Sedco Forex has permanently integrated the Well intervention structure, equipment and systems to facilitate conventional light drilling and well re-entry with coiled tubing and other well intervention operations. Joining the first two member of the trio, Prisa 103, which began the tow to Venezuela this past March, is currently deployed in the country's Lake Maracaibo for a 10-year contract with PDVSA.

Friede Goldman International, Inc. and Halter Marine Group Inc. have announced the two companies have completed their previously announced merger and the name of the combined company is now Friede Goldman Halter, Inc. The new company will begin trading on the New York Stock Exchange on November 4, under the new symbol "FGH."

TDI-Halter, the Offshore Division of Halter Marine Group, Inc., recently completed the new construction of the first LeTourneau Super 116-C design jackup drilling rig for Perforadora Central, S.A. de C.V. The jackup was christened Tonala by Gabriela Alvarez-Morphy, wife of Patricio Alvarez-Morphy, president and CEO. Halter utilized its rig and marine shipyards for the construction of Tonala. The three 46 ft. diameter spudcans, built at the South Yard, and three 477 ft. long legs, fabricated at the Orange Yard, were built in Texas and transported by barge to the Pascagoula facility. The wingtank modules and accommodation block were built in Mississippi at Halter's Gulfport facility. The cantilever beams were fabricated by Superior Fabricators in Louisiana, and installed in Pascagoula.

Friede Goldman In Deal To Buy Halter Marine In a deal that will create the U.S.’ most prolific offshore building company, Friede Goldman International Inc. announced plans earlier this week to buy ship builder Halter Marine Group Inc. The agreement is valued at about $220 million calls for each Halter share to be exchanged for 0.4614 share of Friede Goldman.