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Hvide Marine 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.

12 Jul 1999

J. Erik Hvide Steps Down From Helm At Hvide Marine

On June 2, J. Erik Hvide, chairman and CEO of Hvide Marine has decided to step down from his position effective immediately. Hvide's decision, formally stated at Hvide Marine's Board of Directors meeting was furthered by two factors - Mr. Hvide's own personal reasons and the company's declining profits. Hvide, who has been with the company that bears his name for the past 29 years, took the small-family-owned operation started by his father, Hans J. Hvide in 1958, to a leading international provider of marine support and transportation services. The former head executive was a key player in crossing Hvide Marine over to a publicly-traded company in 1996, as well as skyrocketing the company's profits from $40 million to $400 million over the past five years.

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.

09 Jun 2000

Business Briefs

Hvide Marine Incorporated (HMI) and subsidiary Sun State Marine Services, Inc., recently christened the first in a series of new cargo ships at its U.S. shipyard facility in Green Cove Springs, Florida. Constructed entirely on-site by Sun State Marine Services, Inc., the 190-foot 'landing craft' type freight vessel is specially designed and ideally suited for conducting trade with Bahamian and Caribbean markets that have minimal or unimproved facilities. "The landing craft has a reinforced hull that allows use of unimproved landing sites such as beaches or boat ramps by actually grounding the forward part of the vessel," noted Robert J. Coppedge, vice president of Sun State Marine Services, Inc.

09 Jun 2000

Kurz Joins Hvide As CEO

In the latest of various corporate changes that have occurred at Fort Lauderdale, Fla.-based Hvide Marine, the company has elected Gerhard E. Kurz as CEO and a member of its Board of Directors. He replaces James J. Gaffney, who had been serving as interim chairman and will now hold the position of non-executive chairman of the board. Jean Fitzgerald, who managed to bring Hvide to new levels by taking the fledgling company out of Chapter 11 bankruptcy, took on Hvide's reins as chairman and CEO following the resignation of longtime CEO, Erik Hvide last year. Fitzgerald, who recently underwent successful heart surgery, will continue to serve Hvide as a consultant and member of its Board.

25 May 2000

The Strong Get Stronger

Consolidation in the maritime industry is not something new. In the past five years, oil majors such as Exxon and Mobil, and BP, Amoco and Arco have all consolidated. Shipyards haven't been immune to mergers, either; as Halter was purchased by Friede Goldman; and Litton Ingalls consolidated with Avondale. But, when equipment manufacturers begin to consolidate, the effects aren't quite as obvious. In the past five years, Caterpillar acquired MaK and, more recently, Sabre. And Rolls-Royce has joined the buying frenzy with such zeal and aggression, it's almost easier to list companies not owned by the propulsion giant. Part of the ambiguity of the merger between equipment manufacturers is, typically, the existing product line is still maintained; just owned and distributed by the new company.

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.

17 Jul 2000

Hvide Marine Certified For Safety

Hvide Marine's subsidiary, Hvide Marine Towing, has been granted certification in the American Waterways' Operators' (AWO) Responsible Carrier Program. RCP is a voluntary program outlining strict standard of conduct and compliance for the towing and barge industry, addressing quality and safety systems for operations and management. Certified since 1997, Hvide Marine Towing's certification verifies the harbor and offshore towing company's continued compliance with the safety standards outlined by the RCP Code.

10 Aug 2000

Hvide And Tesoro Commence Double Hull Service

Hvide Marine and Tesoro Maritime have begun a new double-hull petroleum transport service in Alaskan waters. The 46,000-ton HMI Cape Lookout Shoals - one of Hvide's new U.S.-flagged Lightship-class double-hull tankers - began charter the first week of August. Operating under a three-year contract with Gold Star Maritime, which is a subsidiary of Tesoro Maritime Company, the vessel will service a trio of refineries owned and operated by Tesoro. The refineries are located in Nikiski, Alaska on Cook Inlet; Anacortes, Wash.; and Kapolei, Hawaii. The tanker, which will for the most part be employed in northern waters, will have a typical itinerary that includes transporting Cook Inlet crude from the Drift River Loading Platform to the Kenai Pipe Line Company dock…

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.

05 Dec 2000

Hvide Marine Elects New General Counsel

Hvide Marine has appointed Alan R. Twaits as senior vice president, general counsel and secretary with responsibility for all legal activities of the company, its subsidiaries and affiliates. Twaits replaces Ronald J. Bjelland, who was appointed earlier this year and has since left the company due to health reasons. Prior to joining Hvide, Twaits was senior vice president, general counsel and secretary at Premier Cruise Lines. He has also held positions with Carnival Corp., Trusthouse Forte and Crowley Maritime Corp. As Hvide's general counsel, Twaits will have a significant role in installing and monitoring the company's Maritime Compliance Program.

22 Dec 2000

Great Boats of 2000

Every year, MarineNews chooses a handful of vessels delivered in the past 12 months and bestows upon them the distinction of “Great Boats.” The boats are chosen for innovations in design, construction and utilization. Following are the 17 vessels or groups of vessels chosen as the Great Boats of 2000. Crowley Marine Services delivered Alert, Attentive, and Aware, a series of three 140-ft., 10,000-hp Prevention and Response Tugs (PRTs), to Alyeska Pipeline Service Company in Valdez, Alaska. Specifically designed and developed for Alyeska, the boats will be used by Crowley in the Trans Alaska Pipeline System trade. Alert was deployed in February; Attentive was delivered in June, and Aware was delivered in July.

22 Dec 2000

Hvide to Add Two New Boats

Hvide Marine Incorporated has made an agreement to purchase two modern 152-ft. crewboats from Crewboats, Inc. The purchase price for the two vessels, which will join HMI's Seabulk Offshore fleet in the Gulf of Mexico, is $5 million. The company expects to take delivery of one vessel in December 2000 and the second in May 2001. "These are the 'hotshot boats' of the offshore industry," commented company president and CEO Gerhard E. Kurz, "and they command day rates of $3,500 and up in today's market, where focus is shifting to the deepwater and a premium exists for fast, reliable delivery of vital parts and supplies. Built by Breaux's Bay Craft…

19 Dec 2000

Hvide to Trade on Nasdaq Beginning January 2

Hvide Marine Incorporated (HMI) announced that its application for listing on the Nasdaq National Market has been approved. The Company's stock is scheduled to begin Nasdaq trading on January 2, 2001, under its current ticker symbol, HVDM. The company's warrants are unaffected and will continue to trade on the Over-the-Counter Bulletin Board. "This is good news for our investors and an important step forward for the company," said President and Chief Executive Officer Gerhard E. Kurz. "Listing on Nasdaq means a higher profile for HMI and enhanced visibility and liquidity for the stock, as well as immediate access to the best bid and ask prices. We anticipate a broader and more active following among investors as a result."

12 Dec 2000

Tugz Florida Franchise Is Pending

Following months of intense scrutiny, financial due diligence, background checks and equipment review, Ronald C. Rasmus, president of TUGZ International, LLC, is confident his firm meets or exceeds all requirements for securing a franchise permit to provide tugboat and towing services at Port Everglades, Fla. If the franchise is awarded, TUGZ will be the first tug company to compete against Hvide Marine at the Fort Lauderdale port, one of the busiest ports on the eastern seaboard. "Despite its size as Florida's largest port and 5,809 ship calls a year, Port Everglades remains the only major, diversified port in the United States that limits its tug service, by government franchise, to a single tug company," says Mr. Rasmus.

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.

30 Jan 2001

Hvide Completes Lightship Transaction

Hvide Marine Incorporated (HMI) received Hart-Scott-Rodino clearance and has completed the purchase of the remaining 24.25% equity interest in Lightship Tankers LLC previously held by Newport News Shipbuilding. The transaction, originally announced on December 22, is valued at $11 million and gives HMI 100% ownership of these five 1998- and 1999-built double-hull, state-of-the-art product tankers. The five Lightship tankers -- HMI Ambrose Channel, HMI Brenton Reef, HMI Cape Lookout Shoals, HMI Diamond Shoals, and HMI Nantucket Shoals -- are engaged in the domestic Jones Act trade, which limits the shipment of cargo between U.S. ports to U.S.-built, U.S.-crewed, U.S.-flagged and U.S.-owned vessels.

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.

22 Dec 2000

Tugz Florida Franchise Is Pending

Following months of intense scrutiny, financial due diligence, background checks and equipment review, Ronald C. Rasmus, president of TUGZ International, LLC, is confident his firm meets or exceeds all requirements for securing a franchise permit to provide tugboat and towing services at Port Everglades, Fla. If the franchise is awarded, TUGZ will be the first tug company to compete against Hvide Marine at the Fort Lauderdale port, one of the busiest ports on the eastern seaboard. "Despite its size as Florida's largest port and 5,809 ship calls a year, Port Everglades remains the only major, diversified port in the United States that limits its tug service, by government franchise, to a single tug company," says Mr. Rasmus.

22 Dec 2000

Tugz Florida Franchise Is Pending

Following months of intense scrutiny, financial due diligence, background checks and equipment review, Ronald C. Rasmus, president of TUGZ International, LLC, is confident his firm meets or exceeds all requirements for securing a franchise permit to provide tugboat and towing services at Port Everglades, Fla. If the franchise is awarded, TUGZ will be the first tug company to compete against Hvide Marine at the Fort Lauderdale port, one of the busiest ports on the eastern seaboard. "Despite its size as Florida's largest port and 5,809 ship calls a year, Port Everglades remains the only major, diversified port in the United States that limits its tug service, by government franchise, to a single tug company," says Mr. Rasmus.