HOS is building 16 300’ boats, 8 at each yard mentioned but have OPTIONS for 48 more. I can’t even wrap my feeble mind around that but I doubt anyone would have gone for that if they had not done some homework first. It will be interesting to see how many options are exercised.
Your right Tcapt. several 310’s and 320’s as well in the current crop. F’ing staggering huh?
Just glancing at some fundamentals. HOS gross revenues for 2011 is in the 300 million range. Net earnings were negative. I don’t see how they could fund $3 billion in new builds. Nonetheless buy Chouest, which would probably sell in the tens of billions range.
Well - we ARE speculating for amusement, so no worries.
We are just so pleased to see the building boom because a lotta crews will be needed and a lot of older equipment will be headed for the heap. Way good.
Since all are sharing wages, I wonder how Oicur12’s wages fit into this discussion? I’m thinking top dollar $420 a day and two buckets of peanuts and red beans.!
I’m sure he’s getting top dollar from his handshake contract with the millionaire he drives for. Every time I have to pass a rig on the interstate I cringe wondering of its that whacko. I hope I don’t cut him off and he beats me up at the next rest area.
The better question to ask is - Why are they upping the pay?
Do the board of directors lay sleepless at night worring about weather “Joe Deck” has two or four electric snowglobes in his yard? Hell no they don’t.
There has to be an underlying reason why a company, any company would do this.
Because other companies pay more and they don’t want people leaving to go elsewhere.
There’s more than one new build program going on. These companies need to not only keep the people they have, but attract new people for the new boats. If they don’t, they have boats with no crews. What attracts people to those companies…?
[QUOTE=Capt. Phoenix;76150]Because other companies pay more and they don’t want people leaving to go elsewhere.[/QUOTE]
I don’t think that’s it, I think there is more to it.
If that’s the case I hope they all get into a giant dollar bill strip club battle… and go straight to the 10’s and 20’s!
Chouest isn’t like bouchard where they have to bribe people to work there. They are pumping out new boats, competing with the other big osv companies that are also building new boats AND competing with the drilling companies.
Actually Bouchard is an entity unto itself! This pay bump is pro active as you said, in order to not only keep vessel officers but to attract more good ones for growing fleets. Realizing that not everyone who is an opportunist is a keeper, they realize no amount of vetting will make everyone a keeper. But to attract movers and shakers takes greenbacks.
Yupper Rebel: you are seeing what happens in upper level license category for experience. It is a cyclical thing, that comes and goes. (Mostly goes it seems). But it is how it works.
[QUOTE=Rebel_Rider1969;76116]I bet the Big Picture on these companys is staggering.
I could not locate anything about ECO’s. pricetag on the new builds.?[/QUOTE]
That is because ECO is a private family owned business. They own several of there own shipyards, even 1 in Brazil . ECO very rarley buys boats from anybody else, and very rarely has them built any where but his own yards, unless your last name is Choest you will ahve a hard time getting any finicial information about. OC is another family owned private business that unless your last name is Candies you will have a very hard time getting any finicial information about.
It only makes since that if you have 4 vessels that came out in the last month plus another 40 plus in the next three years you have to keep your guys and attract the people to come work for CHOUEST. Meanwhile there is boats being built besides CHOUEST. Supply and demand my friend. I am not sure where all the qualified people are going to come from to man all these new vessels.
[QUOTE=ChiefRob;76176]That is because ECO is a private family owned business. They own several of there own shipyards, even 1 in Brazil . ECO very rarley buys boats from anybody else, and very rarely has them built any where but his own yards, unless your last name is Choest you will ahve a hard time getting any finicial information about. OC is another family owned private business that unless your last name is Candies you will have a very hard time getting any finicial information about.[/QUOTE]
First of all, “Edison Chouest Offshore” is a trademark. It’s not even a company per se. It’s almost like trying to find out how much Mickey Mouse makes per month. Good luck with that one.
We are in a price war… Let’s enjoy it.
Its all because of DP. DP operators with no MMC can go make 150,000 a year working even time. There is a severe shortage of operators. Also a lot of companies are starting to require two DPO’s on the bridge at a time. They used to be able to get away with the second guy not having a MMC. Now you have to have STCW to get DP.
Let’s…
[QUOTE=anchorman;76270]First of all, “Edison Chouest Offshore” is a trademark. It’s not even a company per se. It’s almost like trying to find out how much Mickey Mouse makes per month. Good luck with that one.[/QUOTE]
Ya, don’t the pay checks come from Galliano Marine Services or something like that?
[QUOTE=Jeffrox;76294]Ya, don’t the pay checks come from Galliano Marine Services or something like that?[/QUOTE]
Yes I think you are kind of correct, they have the crew boats under one name, half the supply boats under another name, other sppply boats under another name, the anchor handlers under another name, and so on and so on. It is all just a paperwork thing for liability reasons. They are all the same color, the same emblem on the stack, with the same family in control, regardless of what it says on a particular piece of paper work.