HOS in a good position


#201

[QUOTE=KPChief;187025]Looks like at Loyang? Curious how old are these photos?[/QUOTE]

The Pacific Silver pictures are from Nov. 2004 and taken at Loyang.
The two first pictures are from Jan. 2014 and taken at their own yard at Tuas South.

I have worked with this company’s vessels since they were buying old European boats, up to last year.
Sad to see them in trouble and their fleet sold off on the cheap: http://splash247.com/pacific-richfield-to-offload-40-ahts-vessels-in-distressed-sale/


#202

Ok, it is starting. Solstad has gained a new major investor a few weeks ago
Today Rem Offshore has been absorbed into Solstad, which is now partly owned and controlled by Aker, a company owned by Kjell Inge Roekke: http://splash247.com/rem-and-solstad-to-merge/

This is not the end of it for the Norwegian Offshore companies. We will likely see more mergers/takeovers in the Norwegian Offshore Industry in the near future.

As most will know he also owns Philly Shipyard and a few other US companies within Offshore, Shipping and Fisheries.
Maybe he will come after some of the Bayou boys as well?


#203

It is not only in Norway and the Bayous that there are problems.

Swiber Holdings, an Offshore Construction Company based in Singapore is finished: http://splash247.com/swiber-goes-into-liquidation/

Other Offshore companies in Singapore and beyond is likely to suffer the same faith if the oil price doesn’t rise soon.


#204

Given a choice, I would take KIR over the bayou boys every time. I would like to see KIR invest in the US flag Gulf of Mexico, and bring in the Norwegian way of doing things.


#205

[QUOTE=tugsailor;187965]Given a choice, I would take KIR over the bayou boys every time. I would like to see KIR invest in the US flag Gulf of Mexico, and bring in the Norwegian way of doing things.[/QUOTE]

Not only KIR is out looking for good deals in the Offshore business.
Kristian Siem (of Subsea 7 fame)with the backing of an American hedge fund is actively looking: http://www.smp.no/meninger/kommentar/2016/07/25/Sjøslag-om-rederiene-13087040.ece

Jon Fredriksen is also out hunting: http://www.smp.no/naeringsliv/2016/07/29/Fredriksen-viser-interesse-for-offshore-rederi-13103635.ece

Would you invite the last one into the GoM as well? (Siem has been there for many years and in many roles)


#206

OSM is one of the world’s biggest Crewing and Ship Managers, with 30 offices in 13 countries, incl. USA (Houston & Fort Lauderdale) and abt. 500 vessels under management, incl. Offshore vessels of all kinds and their own training centers.
Don’t know if this includes any US flag ships, but it certainly involve foreign flag vessels working in the GoM from time to time.

The CEO of OSM is shearing his views on the future of Shipping and Offshore vessel management in today’s Splash 24/7: http://splash247.com/osm-shippings-new-reality-demands-fresh-strategies-from-owners/

Most of this may not apply to the business that interest forum members, as the Bayou boys and US Shipping companies are not following the model outlined here, although Crowley is getting into the Shipmanagement business world wide in a big way, I believe.

PS> For US Shipping read; US flag Shipping. Lots of US based Ship Owning companies are using 3rd party Ship management companies, as they are pure financiers.


#207

[QUOTE=ombugge;187963]It is not only in Norway and the Bayous that there are problems.

Swiber Holdings, an Offshore Construction Company based in Singapore is finished: http://splash247.com/swiber-goes-into-liquidation/

Other Offshore companies in Singapore and beyond is likely to suffer the same faith if the oil price doesn’t rise soon.[/QUOTE]

Maybe not entirely gone?: http://splash247.com/swiber-makes-stunning-liquidation-u-turn-goes-into-judicial-management/


#208

Bourbon Offshore is predicting that the market for Offshore vessels has bottomed out: http://splash247.com/bourbon-offshore-predicts-market-bottom/

This presumably applies to the worldwide market and may not be true for the GoM. Bourbon doesn’t have much activity there, I belive.


#209

How about that HOS stock? I’m telling you that selling short is the way to go. It’ll bottom out in 6-12 months. It’s almost a good buy, but my position is still short. Read/listen to the latest quarterly report. Three more vessels slated to be stacked and with that comes layoffs (25-30 crew). Burning through that cash and delaying the final new builds. Save save save


#210

Yea their stock has fallen hard… it’s under $6. To be in such a good position, they’re hurting bad!


#211

I keep telling y’all you should wear a mask when buying the stock at this price. It’s like having a winning lottery ticket you have to wait a couple a tree maybe two years to cash in. Buy a shit load at 10% book value and forget you have it. A few years from now sell it for $50 and go on a nice vacation. Or pay off your house in cash. Or buy a big Prevost RV for cash.


#212

It may be time to go shopping.


#213

[QUOTE=ombugge;188027]Not only KIR is out looking for good deals in the Offshore business.
Kristian Siem (of Subsea 7 fame)with the backing of an American hedge fund is actively looking: http://www.smp.no/meninger/kommentar/2016/07/25/Sjøslag-om-rederiene-13087040.ece

Jon Fredriksen is also out hunting: http://www.smp.no/naeringsliv/2016/07/29/Fredriksen-viser-interesse-for-offshore-rederi-13103635.ece

Would you invite the last one into the GoM as well? (Siem has been there for many years and in many roles)[/QUOTE]

One more player is entering the game: http://splash247.com/wilhelmsen-targets-offshore-norwegian-private-tie/

It is not a “Norwegians only” game. Picking up an entire company with top of the line boats for a “song” could (or should?) attract others with deep pockets.
Cheaper than to buy such boats piecemeal, but be prepared to spend some money on interests and maintenance while you wait for the market to turn. When it does you sit on a fleet that is able to compete at the high end all over the world, incl. GOM, USEC, Alaskan Arctic etc.


#214

#215

HOS take your health insurance yet, or did your little survey save yall? What a load of crap!


#216

[QUOTE=Fraqrat;189404]https://flic.kr/p/KtSiGG[/QUOTE]

Sorry, don’t know that face so whatever was the punchline may have been lost on me. Some film star or something?

I do appreciate that you finally admit that Norwegian Marine technology is superior, however.
It shouldn’t take much effort though, just look around the GoM and you can see where the big sophisticated CSVs come from, or at least where they are designed. The same applies worldwide.


#217

Maersk Supply is selling off 20 of their older vessels to none Offshore use. (or at least not the same functions)
The first two have been sold: http://sysla.no/2016/08/24/maritim/maersk-har-solgt-de-to-forste-av-tyve-skip_147286/


#218

[QUOTE=ombugge;189504]Sorry, don’t know that face so whatever was the punchline may have been lost on me. Some film star or something?[/QUOTE]

It is Brian Williams. The news anchor who has lied about how he has gotten his news stories.


#219

[QUOTE=Emrobu;189507]It is Brian Williams. The news anchor who has lied about how he has gotten his news stories.[/QUOTE]

Thanks.
I don’t do lies, only facts.


#220