Harvey buys Bee Mar OSV's

Harvey Gulf buys Bee Mar OSV Fleet!!!

I was just notifed by a reliable source on the Brimstone. I backed this up with a phone call to a good friend employed at Bee Mar that it is all true. No details as to the particulars of the transaction. Also seems certain all crews are part of deal. So at least no one gets laid off.

See this? http://gcaptain.com/harvey-gulf-expands-fleet-purchase/?48361

New Orleans-based Harvey Gulf International says that on June 4, 2012 the company signed an agreement with Bee Mar, LLC to purchase all of Bee Mar’s vessels and assets.

The purchase will include Bee Mar’s relatively new fleet of 10 ABS certified DP-2 platform supply vessels including five 210-ft “Busy Bee” class PSV’s and five of the larger 234-ft “Bumble Bee” class PSV’s built in 2009 at Bollinger Shipyards in Louisiana. Both the Busy Bee class and Bumble Bee class tout greater cargo carrying capacity than most vessels of comparable size with a total deadweight capacity of 2,700 and 3,000 LT’s, respectively.

The purchase increases Harvey Gulf’s fleet to a total of 32 vessels, with 24 deepwater OSV’s and 8 deepwater towing vessels. Upon closing, Harvey Gulf will have operations in the U.S. Gulf of Mexico, Alaska, Mozambique Africa, Israel and Saudi Arabia.

Tradewinds reports that the purchase price is in the range of $300 million.

Still have to be the most utt bugly supply boats to work in the GoM

Didn’t Boysie Bollinger originally build the first 5 of these boats on spec but nobody wanted them at the time so he set up his own boat co. You know the plan always had to be to sell when the price was acceptable.

That’s what I’ve heard. Have had three different captains come aboard our boat in Fourchon looking to jump ship over the past year. Maybe the crews will be a little happier. Then again it is Harvey Gulf. Good luck fellas.

Yeah they ain’t to aesthetically pleasing and are definitely old school designed.

[QUOTE=Fraqrat;71261]Yeah they ain’t to aesthetically pleasing and are definitely old school designed.[/QUOTE]

Now here is “old school”

Imagine what the inside of that old crab cart smelled like with no A/C.

$300 million is a lot of money for those boats. They must have some good contracts!!

What does Bee Mar have in Mozambique?

I agree that 300 mil is a little high for those boats.

[QUOTE=AHTS Master;71353]I agree that 300 mil is a little high for those boats.[/QUOTE]

How much the Guidry’s get when they sold to those investment bankers a few years ago? $500M wasn’t it but then the Guidry’s kept a bunch of shares as well. No question Boysie Bollinger is chucking happily to himself right now. He probably just made a 100% return on his investment. As good a businessman as his old Bayoo friend Gary C. Can you imagine that all these guys are at least “damned near” billionaires now! (Gary Chouest and family are certainly worth $10B+ easily)

What kind of equipment does Bee Mar have in Mozambique?

[QUOTE=DRG;71445]What kind of equipment does Bee Mar have in Mozambique?[/QUOTE]

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