New Seabulk Site
Seabulk International has launched its new web site at www.seabulkinternational.com. The site is designed to complement the company's recent name change from Hvide to Seabulk International and the rebranding of its three primary business segments under the Seabulk umbrella - Seabulk Offshore, Seabulk Tankers and Seabulk Towing. On the occasion of the launch, Seabulk President and CEO Gerhard E. Kurz said, "This enhanced site incorporates interactive options and real-time data to reinforce and strengthen our global one-on-one communications with customers, investors, career-seekers and other interested parties." The site offers users a searchable fleet list for the company's entire 206-vessel fleet.
Seabulk Earns ISM Certification
Seabulk International, Inc. announced that its U.S.-based offshore energy support subsidiary, Seabulk Offshore, Ltd. (SOL), has been certified by the American Bureau of Shipping to be in compliance with the International Management Code for the Safe Operation of Ships and for Pollution Prevention (International Safety Management (ISM) Code). The Document of Compliance certification is valid for five years with an annual audit. SOL, with primary offices in Houston, Texas; Lafayette and Amelia, La., services oil and gas exploration facilities primarily in the Gulf of Mexico, operating a fleet of 60 vessels including anchor-handling tug supply vessels, supply vessels and crew boats.
ShipServ’s e-procurement Solutions Expand
ShipServ announced that Chevron Shipping Company and Seabulk International have contracted to conduct their procurement business via ShipServ’s TradeNet trading platform. ShipServ established a foothold in North America, by adding a number of blue chip clients and breaking into new sectors such as LNG, cruise ships etc. Chevron Shipping, San Ramon, California, signed on its tanker fleet currently at 25 ships, including the, Northwest Swan, an LNG vessel operated by an affiliate of Chevron Shipping on behalf of the North West Shelf Venture Gas Project. Seabulk International, Fort Lauderdale, Florida, who operate one of the largest USA tanker fleets, will use TradeNet for all purchasing for their fleet of ten petroleum product and chemical tankers.
Seabulk Offshore Orders Two
Expanding its presence in the growing offshore West African market, Seabulk Offshore -- a subsidiary of Seabulk International, Inc. (Nasdaq: SBLK) -- announced that it has ordered two additional vessels for delivery in late 2004 and mid-2005, respectively. Built at a combined cost of approximately $23.4 million, the new vessels will work under long-term contracts for a major international oil company in offshore Angola. "West Africa is our biggest market and represents more than half of Seabulk Offshore's revenue," commented Larry D. Francois, President of Seabulk Offshore. The vessels, the Seabulk Advantage and the Seabulk Luanda, bring to five the total number of newbuilds currently under construction for Seabulk Offshore.
Seabulk Acquires Newbuild PSV
Seabulk International, Inc. has purchased and delivered o the Seabulk Africa, a newbuild UT-755L platform supply vessel (PSV) built at the Simek Shipyard in Norway. The 5,500-horsepower, 236-ft. vessel will join the Company's West African fleet, which presently comprises 42 vessels ranging from crewboats to sophisticated anchor handlers. PSVs are large, multipurpose vessels used to ferry equipment, supplies and personnel to offshore platforms and rigs engaged in the production of crude oil and natural gas. "This is a state-of-the-art vessel and the Cadillac of the industry," commented Hubert E. Thyssen, corporate vice president and senior vice president of marketing for Seabulk Offshore, the Company's offshore vessels subsidiary.
ABS Elects Kurz And Kwok To Board Of Directors
Gerhard E. Kurz, president and CEO, Seabulk International, Inc. and Joseph Kwok, COO, Neptune Orient Lines Ltd. were elected to the ABS Board of Directors, by the ABS Council, following the recent Annual Members Meeting of the classification society in New York. Kurz is responsible for the revitalization of Seabulk International, Inc. (formerly Hvide Marine Inc.), and Kwok is COO of the NOL group of companies and also its CEO of chartering. He is responsible for the entire group's fleet operations. Also elected to the ABS Council at the Annual meeting were Choo Chian Beng, chairman and managing director, Keppel FELS; Mustafa A. Jalali, president and CEO, Aramco Services Company; Dr. Frank F.H. Lu, chairman, Taiwan Navigation Co.; and A.P. (Paul) Revere, president, Sea River Maritime.
Seabulk Intl. Finalizes Sale of Inland Barge and Towboat Fleet
Seabulk International has completed the sale of the inland barge and towboat fleet of its Sun State Marine Services, Inc. subsidiary to Colonial Towing, which is a subsidiary of Colonial Group, Inc. of Savannah, Ga. The proceeds from this sale, which amount to approximately $3.8-million will be used by Seabulk to pay down debt.
Seabulk Towing Appoints Rogers as Senior Vice President of Marketing
Seabulk Towing, Inc., the Tampa-based subsidiary of Seabulk International, announced the appointment of Kenneth M. Rogers to the new position of Senior Vice President of Marketing. in the Gulf of Mexico and the Atlantic. Towing's development strategy. A graduate of the U.S. Carnival Corporation. Propeller Club of the United States.
Seabulk Signs Global E-Procurement Contract With SeaSupplier
SeaSupplier Ltd. (SeaSupplier), the marine e-procurement subsidiary of Stolt-Nielsen S.A. announced it has been chosen by Ft. Lauderdale, Fla., based Seabulk International to provide its total SeaManager e-procurement solution to Seabulk International's three global divisions: Seabulk Offshore, Seabulk Tankers, and Seabulk Towing . cost and time. Gerhard E. Kurz, President and Chief Executive Officer of Seabulk, commented, "This is a significant step forward in our ongoing efforts to lower costs and improve service and response time to our customers. We have evaluated several e-procurement solutions to streamline our purchasing process and reduce our costs.
Seabulk,Tesoro Extend Tanker Deal
Seabulk International, Inc. announced the extension of time charters with Tesoro Maritime Company on two of its U.S.- flag double-hull tankers through July 2010. began her original Tesoro charter in the summer of 2000, followed by her sister ship, the Seabulk Pride, in the summer of 2001. operated by Tesoro in Nikiski, Alaska on Cook Inlet; Anacortes, Washington on the Puget Sound, and at Kapolei, Hawaii. safety and environmental protection in sensitive Pacific coastal waters. Gerhard E. Kurz, chairman, president and chief executive officer of parent company Seabulk International, added, "These contract extensions are part of strategy of ensuring a reliable long-term source of future earnings.
Seabulk International Elects Thyssen as VP
Seabulk International, Inc. announced the election of Hubert E. Thyssen as Corporate Vice President, effective immediately. Thyssen, who joined the company in 1997 when it acquired the 36-vessel Care Offshore fleet of Nyon, Switzerland, will continue to serve in his capacities as Senior Vice President of International Marketing for the 133-vessel Seabulk Offshore fleet and as Managing Director of Seabulk Offshore's operations in West Africa, Europe and South America. "Hubert Thyssen is a well-known figure in the international oil services industry and a premier marketer," commented Chairman, President and Chief Executive Officer Gerhard E. Kurz.
Marine Software Delivers Marine Planned Maintenance System
U.K. 580 passenger capacity cruise liner, the MS Sage Rose. Marine Software imported all job descriptions, PM schedule and historical records from Saga Rose’s existing MS-DOS AMOS D system into their Marine Planned Maintenance for Windows system. only a short interval. Marine Software is able to import data from many existing DOS and windows systems. Rocksaw 1000hp rock-trenching tool. installation program for Seabulk International’s offshore support vessels, Seabulk Mallard, Seabulk Jasper, Seabulk Connecticut and Seabulk Washington.
Seabulk Agrees to Sell Product Tankers
Seabulk International, Inc., a wholly owned subsidiary of SEACOR Holdings Inc. announced that it has signed an agreement to sell the Seabulk Trust, a 48,000-dwt foreign-flag double-hull product tanker. Delivery of the Seabulk Trust to its buyer is expected in August. In a separate transaction, an agreement was signed to sell the Seabulk Reliant, a 48,000-dwt foreign-flag double-hull product tanker. Delivery of the Seabulk Reliant to its buyer is expected in September. Both vessels currently trade worldwide as part of the Dorado product tanker pool.
Marine Software to Supply Maintenance System for Hebridean Spirit
U.K. based software house Marine Software Ltd was commissioned by Hebridean Island Cruises to set up their Marine Planned Maintenance system for the M.V Hebridean Spirit from existing AMOS D data and was delivered as a complete working system. their various container and Ro-Ro managed Delmas vessels Patricia Delmas, Roland Delmas, Suzanne Delmas, Rokia Delmas, Catherine Delmas, Roxane Delmas, Veronique Delmas, Kamina Delmas and Kariba Delmas. This now takes the number of vessels operating Marine Purchasing to 13 and also compliments Marine Planned Maintenance and Marine Storekeeper already installed on these vessels. Flanders, Freeway and Ideway operating on the Felixstowe/Europort route. vessels.
Seabulk Offshore S.A. Earns ISO 9002 Certification
Seabulk International, Inc. announced that its subsidiary, Seabulk Offshore S.A., (SOSA), which is already ISM-certified, has also successfully passed the Bureau Veritas annual audit for renewal of its certification as an ISO 9002-certified company. SOSA operates a fleet of 38 offshore energy support vessels in West Africa, South America and the Caribbean. activities in the deepwater market off the coasts of Nigeria, Angola, Gabon, Equatorial Guinea, Congo and Cameroon. support vessels with a fleet of 143 workboats in nearly all of the world's major offshore markets. Two other subsidiaries -- Seabulk Towing, with 31 vessels in seven southeastern U.S. American Waterways Operators' Responsible Carrier Program, an ISM Code- equivalent safety management system for the towing industry.
Seabulk International Appoints CFO
Seabulk International, Inc. announced the election of Vincent J. deSostoa as Senior Vice President and Chief Financial Officer, effective immediately. deSostoa, who most recently served as President and Chief Financial Officer of Zeosoft Corporation, will report directly to Seabulk's President and Chief Executive Officer, Gerhard E. Kurz. He will be responsible for all of the Company's financing activities, including its relations with investment bankers and lending institutions, as well as for the financial reporting function, risk management and information systems. "We are pleased to welcome Vince to the Seabulk management team," commented Kurz.
Seabulk Issues Second Quarter Guidance
depreciation, amortization and drydocking of approximately $16.2 million. amortization and drydocking of $16.6 million. $7,200 in West Africa, $3,600 in the Middle East and $5,200 in Southeast Asia. 30, 2003 and file its Form 10-Q on or about August 14, 2003.
Seabulk International Reports First Quarter Results
Seabulk International, Inc. reported net income of $1.6 million or $0.07 per diluted common share for the quarter ended March 31, 2003. In the year-earlier period, the Company had a net loss of $2.3 million or $0.22 per diluted common share. Revenues totaled $77.2 million compared with $83.2 million a year ago. Operating income was $10.0 million in the current quarter compared with $12.0 million in the prior year. "Lower interest costs, together with strong performances from our tanker and towing businesses, enabled us to post a profit for the quarter," commented Chairman, President and Chief Executive Officer Gerhard E. Kurz. "The lower interest costs are a direct result of our recapitalization last September.
Seabulk Orders Two Newbuilds
Expanding its presence in the growing offshore West African market, Seabulk Offshore -- a subsidiary of Seabulk International, Inc. has ordered two additional vessels for delivery in late 2004 and mid-2005, respectively. Built at a combined cost of approximately $23.4 million, the new vessels will work under long-term contracts for a major international oil company in offshore Angola. "West Africa is our biggest market and represents more than half of Seabulk Offshore's revenue," commented Larry D. Francois, President of Seabulk Offshore. The vessels, the Seabulk Advantage and the Seabulk Luanda, bring to five the total number of newbuilds currently under construction for Seabulk Offshore. Of the five, three are destined for West Africa and two for Brazil.
Seabulk International Posts Third Quarter Results
Seabulk International, Inc. 2001. current quarter were up 10% from $81.6 million a year ago. services business and its domestic tanker business. Revenues from Seabulk Offshore, which operates a fleet of 142 offshore energy support vessels, rose 31 percent year-over-year to $51.1 million from $39.1 million and accounted for 57 percent of total revenues. Operating income from Seabulk Offshore totaled $13.0 million, a nearly three-fold increase from $4.6 million a year ago. Utilization was 83% against 90% in the second quarter and 76% in the year-earlier quarter. quarter and 86 percent in 2000. second quarter and 85 percent a year ago. rates firmed while utilization remained steady. third quarter of 2000, when they operated an additional tanker which has since been scrapped.
Hvide 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 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.
Seabulk Holds Special Shareholder Meeting
Seabulk International, Inc. announced approval by its shareholders of the issuance of 12.5 million shares of common stock at $8.00 per share to a group of investors led by affiliates of DLJ Merchant Banking Partners III, L.P. and Carlyle/Riverstone Global Energy and Power Fund I, L.P. Proceeds from the transaction, totaling $100 million less applicable fees, will be used to pay down debt, provide working capital and for general corporate purposes. week. * add a number of minority shareholder provisions. recapitalization of the company and paves the way for the completion of the transactions contemplated in our announcement of June 13," commented president and CEO Gerhard E. Kurz.
10,850-HP AHTS Joins Seabulk Offshore Fleet
The Seabulk Offshore group of companies last week added a new UT-710 Anchor Handling Tug Supply Vessel (AHTS) to its fleet, making the 226-ft. Seabulk South Atlantic the fifth newbuild vessel in Seabulk's 2003 fleet renewal program. Built by Brevik Construction AS in Norway, the 10,850-hp Seabulk South Atlantic joins the Seabulk fleet on a five-year bareboat charter agreement that includes a purchase option at the end of the contract. Larry D. The Seabulk South Atlantic produces speeds up to 15.5 knots…