Harvey gulf

Hgim bought beemar. Is Gol next?

good! I’ve applied to all three!!!

No, and what would give you that idea to begin with??? GOL also has a lot of older equipment, mostly in it’s small boat division. Harvey is after new equipment and I doubt they want the headache that comes with the older stuff much less a small boat division.

Beemar was set up by Bolinger from the begging to be sold. What surprised most of us was the selling price. 300 million is a hell of a lot for 10 Bolinger boats built on spec that are more then likely as bare bones as it gets. I would be surprised if Bolinger has 10 million into each boat.

From what I’ve read, they were 20-23 million each to build.

I find that hard to believe! That’s what most companies pay for an OSV (20 mil-30 mil and that’s for a 240’ and bigger not 220’). I am sure it cost them a lot less than that.

If what I hear is correct, Beemar was not actually sold, just their boats were (and the crews). I hear Beemar is building or will soon be building 4 285’ OSVs that will be on a long term contract with Anadarko. They will come with ROVs as well.

Haha. GOL getting sold is one of the longest running rumors in the gulf. We hear it at least once a year. From the owners mouth “if the money’s right everything I’ve got’s for sale” so it could happen if someone has deep enough pockets. Usually it’s C&G (ex partner) spreading the noise around.

Even if they cost that much to build, and that’s highly subject, to make a profit of $10 million per boat is one hell of a return!

I would love to see that kind of return on my 401k.

I hear Beemar is building or will soon be building 4 285’ OSVs

While I don’t discount that, Beemar was set up to by Bollinger to run those boats till a buyer could be found. Also I suspect they kept building the boats to keep the yard in Larose busy so he could keep it running until other contracts could be secured. Easier to get money from a bank for new projects when you can show that you currently have work and more coming in, even if it’s from a daughter company. Now all that yard is building are the new CG cutters.

That said maybe they found out there was money to be made in the boat business, especially when you build your own boats as all the big companies with staying power have proven like Tidewater, Chouest, and Otto Candies. They could also be running a business model where you get a few boats run them for 5 years or so and then sale them off to finance your new builds. Crew Boat International (CBI) has been doing this for decades. They build some crew boats run them for a while then sale them all together when either the market slows or they reach what ever age is decided to sale the boats at. CBI has done this three times that I know of to Tidewater, Seabulk, and LaBorde Marineat seperate times in the past.

Well the rumors are still flying. Maybe there is some negotiations going on. Who knows? If Harvey is willing to pay top dollar then maybe it’ll happen. I’ve had a good ride here at GOL and they’ve been good to me but I know it’s a business to make money. We will see I guess.