I wanted to find out what the guys on the water had to say about Hornbeck collapsing under debt pressure.
Dude, you are looking in the wrong place for insider news. The rumors can fly fast and loose but in the end the guys on the boat will always be the last ones to know. The first inkling will be if they’re told to tie up the boats and take their gear…that would be the definitive indication that things have gone bad in a big way.
[QUOTE=SeasonedInvestor;54025]I wanted to find out what the guys on the water had to say about Hornbeck collapsing under debt pressure.[/QUOTE]
Take your sentence and remove the word ‘Hornbeck’ and insert almost ANY tug and barge company. I believe each company who has gone on a double hull buying spree in the last 10 years is susceptible to the pressure.
Regarding Hornbeck, I personally feel they have made serious judgement mistakes in their doublehull (NON ATB) decision. All the companies around the country have invested in ATB’s but Hornbeck (and to a lesser extent Vane Bros.) have chosen to remain ‘old school’ and keep the wire. Seems silly to me.
yep, we are the very last to know.
[QUOTE=cappy208;54030]Take your sentence and remove the word ‘Hornbeck’ and insert almost ANY tug and barge company.[/QUOTE]
Any tug and barge company? Hell, insert any damn smaller company name you want. It’s the big boys that are posting record profits, the rest of us are fighting over the scraps and the least little wrong move carries some potentially devastating effects.
If you were the “Seasoned Investor” you purport to be, you wouldn’t need to ask this type of question.
I’m no financial whiz but I knew I didn’t like what I was seeing. I decided to sit this roller coaster out. I pulled my money out of stocks and put it in bonds months ago. My 401k hasn’t increased in value, aside from continued contributions, but it hasn’t lost any value either.
I think they got a few long term contracts for their big boats and hired a bunch of people not to long ago. Also they have a lot of work down in Brazil and Mexico. As far as their Tug and Barge side I could not tell you anything.
Doug, I go on Motley Fool a lot. There is very good investment advise on that site. They don’t hit the nail on the head everytime, but who does?
I am always interested in investing in offshore service companies as well as oil field service companies. It just makes sense to invest in businesses you understand. Several years ago HOS intrigued me so I started doing my due diligence. In my opinion HOS is a cash cow for the CEO and his buddies, the individual stockholder gets the leftovers after they give themselves all the cream. This is NOT unusual nowadays with rubber stamping hand picked board of directors but I prefer to look elsewhere when investing my hard earned money.
I went “all-in” with Hornbeck the first time around. The more things change, the more they stay the same I guess.
I feel Hornbeck is an alright pick. The thing to understand about the big operators is that they can move their fleet any where in the world. And for the most part the day rates and crew cost are cheaper overseas then in the US. The only real benefit to working in the GOM in the political stability we have verses most the rest of the world.
But the real strong OSV operator when it comes to stocks is Seacor. Wish I has a few thousand shares when they paid $5 per share in dividends last year.
I would say that is doubtful if you read up on their latest financial reports which are provided on their website. Getting ready to send a few more boats to Brazil on long term contract which will put the majority of their “New Breed OSV’s” on long term charter which is damn good in this market. Rates on those vessels are hovering in the $20,000 - 21,000/day and one of the MPSV’s just signed a multiyear charter but not sure with what company.
I’m not saying they are making money hand over fist but I don’t think they are on the verge of collapsing either.
You’re welcome. BTW Edmonton Asian Escort how far back do you suggest answering Edmonton Escort some of these posted problems? Edmonton Escorts See a lot of unanswered ones going way back. Edmonton Asian Escorts
I read that the Centerline or Strongline, or maybe even both, signed a contract with MSRC. Dont know what the Iron Horse or Achiever is doing.
[B]Got the following along with 7 employee (crew) reviews of company from Glassdoor.com This site also has several other maritime companies/reviews/salaries… [/B]
By ALAN SAYRE , 08.04.11, 04:33 PM EDT NEW ORLEANS – Offshore vessel provider [B]Hornbeck Offshore[/B] Services Inc. posted its second consecutive quarterly loss Thursday, blaming it on the moratorium-driven slowdown in Gulf of Mexico petroleum activity. [B]…[/B] – Read More
From: Forbes (via Google News) – in the last 2 weeks
[B]Hornbeck Offshore[/B] Services Inc. (NYSE: HOS) closed Friday’s trading session at $23.11. In the past year, the stock has hit a 52-week low of $15.16 and 52-week high of $31.77. [B]Hornbeck Offshore[/B] Services (HOS) stock has been showing support around $22.39 [B]…[/B] – Read More
From: Market Intelligence Center (via Google News) – 3 days ago
[B]Hornbeck Offshore[/B] Services (NYSE:HOS) closed Friday’s seesaw trading session at $24.21. In the past year, the stock has hit a 52-week low of $15.16 and 52-week high of $31.77. [B]Hornbeck Offshore[/B] Services (HOS) stock has been showing support around [B]…[/B] – Read More
From: Market Intelligence Center (via Google News) – in the last 2 weeks
Yeah that was pure genius, on the part of management. They needed some work for those things. Now they are fitted with skimmers and can just sit on standby and make up some much needed revenue.
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I think they intended to post that on the thread by a guy looking for a tug job…
… hey I like a little Chinese every so often myself. What can be wrong with that?!
Last Chinese girl I dated gave me lead poisoning
[QUOTE=cappy208;54649]… hey I like a little Chinese every so often myself. What can be wrong with that?![/QUOTE]