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Offshore Transport Services News

08 Oct 2018

Gulf Island Shipyards Sues Hornbeck Offshore

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…

02 Mar 2015

Hornbeck Completes $114M Sale of OSVs to U.S. Navy

    The HOS Arrowhead in 2010 (Photo courtesy of Military Sealift Command)

Hornbeck Offshore Services has closed the sale of three 250EDF class OSVs to the U.S. Navy, the company announced today. The three vessels were sold for cash consideration of $114 million, the company reported. This is expected to result in a gain on sale of assets of approximately $33.0 million ($20.8 million after-tax or $0.57 per diluted share). The HOS Arrowhead, the HOS Eagleview and the HOS Westwind have been supporting the Navy's submarine fleet on the east and west coasts since they were constructed in 2008 and 2009.

17 Dec 2012

Offshore Get-together in Flushing Port

Dutch Blue in Tema, Ghana

Last December 12th, Holland Offshore’s newbuild Dutch Blue arrived in Flushing, the Netherlands, towing the pontoon NP 328 which transported 6 hulls owned by Ruyven. This trip has been the maiden voyage of the Dutch Blue; a towing / support vessel built under Dutch flag regulations and owned by Holland Offshore, part of the Holland Shipyards Group. The vessel has a length of 52,8 m, a width of 13,2 m, a bollard pull well over 50 tons and is propelled by means of two Wärtsillä 8L20 main engines, which deliver a combined 4300 hp capacity. The vessel has a complement of 37 persons.

05 May 2006

Hornbeck Reports 1Q Results

Hornbeck Offshore Services Inc. on reported that first-quarter earnings nearly tripled as rates for offshore transport services rose. Net income rose to $14.9 million, or 54 cents per share, from $5.2 million, or 25 cents per share, in the year-ago period, which included a charge of $1.1 million, or 5 cents per share, related to early debt repayment. Analysts polled by Thomson Financial expected 49 cents per share. Revenue rose 61 percent to $61.1 million from $37.9 million last year, beating the average Wall Street estimate of $57.3 million. Offshore vessels, which transport oil products, accounted for $38.5 million of the total, an increase of 62 percent from a year ago. The average daily rate for the vessels rose 57 percent to $18,175 from $11,577.