Is Harvey Gulf Marine becoming a steamroller in the GoM?

Offshore
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So the GOL rumor in now confirmed…looks like the Guidy’s Wall Street pals are setting the company up to blow past HOS for the #2 position in the GoM. If only they weren’t such neanderthals when it came to their mariners

[B]Harvey Gulf in new $540 million fleet expansion[/B]

MAY 3, 2013 — Harvey Gulf International Marine CEO Shane Guidry today announced the execution of three agreements for vessels totaling $540 million, taking the company’s total capital expenditures since August 2008 to $1.7 billion.

Harvey Gulf’s newbuild binge now includes to STXCV offshore construction vessels

The first agreement is between Harvey Gulf International Marine and Eastern Shipbuilding Group. It covers the construction of two STXCV 340 ft x 73 ft x 29.5 ft heavy lift construction vessels.

To be named the Harvey Sub-Sea and the Harvey Blue-Sea, both vessels will have the following features:

A two hundred fifty (250) metric ton active heave compensated crane for deep water lowering.

Twelve thousand (12,000) square feet of usable deck space.

Accommodations for 120 crew members in single and double occupancy quarters, along with three lounges, two gymnasiums, three conference rooms and a 48 person theater.

A heli-deck rated for a Sikorsky S-92 helicopter.

The two vessels are in addition to a STXCV 310 Light Construction Vessel, the Harvey Deep-Sea, set for delivery from Eastern Shipbuilding in July 2013.

ANOTHER NEWBUILD FOR TY OFFSHORE

The second agreement is between Harvey Gulf International Marine and TY Offshore for the construction of the sixth dual fuel offshore vessel to be owned and operated by Harvey Gulf International Marine. This addition will enable Harvey Gulf to become the largest owner/operator of clean burning LNG Offshore Support Vessels in the world.

ACQUISTION FROM GULF OFFSHORE LOGISTICS

The last agreement is the signing of an asset purchase with Gulf Offshore Logistics of Lafayette, Louisiana for eleven DPS-2 offshore supply and fast supply vessels.

Mr. Guidry commented, “I am very pleased with the transactions I signed today, especially the acquisition agreement with Joel Broussard, of Gulf Offshore Logistics. Joel’s company philosophy of safety first is one we both share. The Gulf Offshore Logistics acquisition will complement our existing fleet of vessels, but most importantly it will bring additional diversity to Harvey with the addition of fast supply vessels. The two heavy construction vessels will allow my company to maintain its position as the largest United States flag owner of vessels with the ability of deploying over one hundred thirty-five (135) metric tons to water depths of three thousand five hundred (3,500) meters with lifting hook heights of forty (40) meters above the main deck. My commitment to our clients, the environment and our industry is clear. We are the only company in America building offshore supply vessels utilizing liquefied natural gas (LNG) as the fuel source regardless of the fact that these vessels have a construction cost of twenty percent higher than a conventional offshore supply vessel.”

“On May 4, 2013, I will open a sales and engineering office in Houston, Texas to help support my company’s growth,” continued Mr. Guidry. “At Harvey Gulf, we take time to clearly listen to our client’s needs, demands and desires and that’s what we buy or build.” said Mr. Guidry. The Houston team will be designing new vessel concepts while supporting new build growth and client needs."

With the vessels reported in today’s announcement, Harvey Gulf International Marine will own 46 deep water, DPS-2 vessels with an average age of less than five years old.

Now, I wonder if they’re gonna be smart and build those new vessels with ice class hulls?

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I wonder what GOL is gonna do with the rest of their boats

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Wonder where all the people to crew these things are gonna come from?

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While spending all this money on new builds why not allocate some money to their websites? Maybe it’s just me but HOS and HGIM have pretty cheesy sites…Hell even GCaptain has a more professional appearance. Just sayin

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Those two subsea construction boats are similar specs to the big one OC is working on. At 340 feet with a 250 metric ton heave comp crane, I believe there is almost no chance of getting them under the 6000 ITC rule. This will make it interesting to see what happens with the tonnage and crewing. I keep hearing rumors of the 10,000 ITC but I have not heard of anyone actually having it in there hand yet. At some point the coast guard is going to have to tell them "look guys vessels like this are not OSV’s so don’t even ask to class them as such. If not we are going to wind up with a 50,000 ITC OSV with a drilling derek on it.

This seems like an awfull lot of debt that Shane Guidry is taking on lately, as long as there is a boom for several years he will probably be all right. A slight dip in the market and he will be in trouble.

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I would think they would have to operate them as Subchapter I- Cargo and Miscellaneous Vessels. As you said they are not OSVs. In that case crewing them with 6000 ITC OSV licenses obviously would not fly.

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Edited post- too harsh when looking back

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[QUOTE=ChiefRob;108054]Those two subsea construction boats are similar specs to the big one OC is working on. At 340 feet with a 250 metric ton heave comp crane, I believe there is almost no chance of getting them under the 6000 ITC rule. This will make it interesting to see what happens with the tonnage and crewing. I keep hearing rumors of the 10,000 ITC but I have not heard of anyone actually having it in there hand yet. At some point the coast guard is going to have to tell them "look guys vessels like this are not OSV’s so don’t even ask to class them as such. If not we are going to wind up with a 50,000 ITC OSV with a drilling derek on it.[/QUOTE]

I would not be so sure about them not getting them under 6000grt but the USCG is supposed to be developing super large OSV rules and super large OSV licenses and anyway, I would not be surprised one bit if the delivery of these vessels doesn’t coincide with the issuance of those rules which will be only slightly more demanding than the present large OSV rules ie. not demanding at all! Remember the USCG is OMSA’s friend and never takes a stand in opposition to the GoM operators. If they ever have, maybe someone here can tell us?

I am just glad that each one of these huge new subsea vessels will put that much more pressure for the friggin Norwegians to pack up and leave OUR waters even if it does make a trashbag South Louisiana moron like Shane Guidry even more wealthy than he already is. What a fucking miserable business this whole mess is! Why does it have to be an HGM to build these ships for Christ’s Sake?

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[QUOTE=ChiefRob;108054]This seems like an awfull lot of debt that Shane Guidry is taking on lately, as long as there is a boom for several years he will probably be all right. A slight dip in the market and he will be in trouble.[/QUOTE]

It isn’t the Guidry’s money at all. It’s belongs to that Wall Street Private Equity Fund known as the Jordan Company that bought that huge equity stake in HGM in 2008.

Fuck, all the major offshore families (sorry, companies) now have some serious access to capital and never have to risk their private fortunes if they have no desire to.

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[QUOTE=c.captain;108064]I would not be so sure about them not getting them under 6000grt but the USCG is supposed to be developing super large OSV rules and super large OSV licenses and anyway, I would not be surprised one bit if the delivery of these vessels doesn’t coincide with the issuance of those rules which will be only slightly more demanding than the present large OSV rules ie. not demanding at all! Remember the USCG is OMSA’s friend and never takes a stand in opposition to the GoM operators. If they ever have, maybe someone here can tell us?

I am just glad that each one of these huge new subsea vessels will put that much more pressure for the friggin Norwegians to pack up and leave OUR waters even if it does make a trashbag South Louisiana moron like Shane Guidry even more wealthy than he already is. What a fucking miserable business this whole mess is! Why does it have to be an HGM to build these for Christ’s Sake?[/QUOTE]

The tonnage I am basing my guess off of, is the “Cade Candies” that boat is only 305 feet with a 150 ton heave comp crane. It was 5600 ITC. When you compare that to the Chloe, or DMT Emerald which are 290, with only a 100 ton crane at 4500 ITC. So If there was a 1000 tons difference between those two. Stretching out to 340 feet and another 100 tons of crane capacity tends to make me think the 6000 ITC mark is way out of reach.

The coast guard is starting to get wise to that class of vessel. I hear they had a real hard time getting the last couple to pass, mostly because of P.O.B capacity, no real OSV capability’s, plus the major stability issues with subsea cranes. That was on the vessels with 150 ton cranes. The 250 ton cranes are a whole new ball game, especially with active heave comp capability, and 3400 meters of subsea wire on board. Just the wire weight on a empty hook at 3400 meters will probably be 75 to 80 tons if not more.

I know the red and white fleet is already worried about the tonnage and crewing on the two they are building, because of the above issues.

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[QUOTE=c.captain;108064]

I am just glad that each one of these huge new subsea vessels will put that much more pressure for the friggin Norwegians to pack up and leave OUR waters even if it does make a trashbag South Louisiana moron like Shane Guidry even more wealthy than he already is. What a fucking miserable business this whole mess is! Why does it have to be an HGM to build these for Christ’s Sake?[/QUOTE]

HOS is building a couple similar, OCLLC is building two more similar, and I hear oceanerring is lookng for another one similar to the Ocean Alliance. This is all good news as far as I am concerned. I don’t think these boats are being built on speculation, there has to be some big time contracts in play for all this cash to be being thrown around.

I agree HGIM will have to change it’s ball game to operate vessels like this.

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[QUOTE=ChiefRob;108069]I know the red and white fleet is already worried about the tonnage and crewing on the two they are building, because of the above issues.[/QUOTE]

That’s all fine and good but the USCG Authorization Act for FY 2010 authorized the Coast Guard to develop and implement rules for OSVs over 6000grt and to create a license class for mariners to operate those new class of vessel. Now, I would be stunned beyond words if the CG took a stand that super large OSV’s were in fact ships and demanded that they be manned as ships. OMSA WOULD HOWL AT THE MERE THOUGHT THAT UL MARINERS WILL BE REQUIRED AND MANNING WITH THE SCALE OF A UL SHIP! Of course, that is what I hope for but I ain’t holding my breath.

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[QUOTE=c.captain;108071]That’s all fine and good but the USCG Authorization Act for FY 2010 authorized the Coast Guard to develop and implement rules for OSVs over 6000grt and to create a license class for mariners to operate those new class of vessel. Now, I would be stunned beyond words if the CG took a stand that super large OSV’s were in fact ships and demanded that they be manned as ships. OMSA WOULD HOWL AT THE MERE THOUGHT THAT UL MARINERS WILL BE REQUIRED AND MANNING WITH THE SCALE OF A UL SHIP! Of course, that is what I hope for but I ain’t holding my breath.[/QUOTE]

I agree the mud boats will never change. However there is atleast a glimmer of hope on the construction side, we will know for sure in about 18 months.

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HOS is building four total now. They just announced exercising options for two more in their Q1 2013 results announcement.

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I know that Chouest is building two construction vessels at its Larose yard. the first hull is in final stages sporting a large bulbous bow. any Chouest employees have additional info??

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All I have heard is it is coming out in July. Not for sure about the size and ITC of the vessel. Don’t qoute me but I believe the Master that is taking it over has a 6,000 ITC. I have never sailed with the Master I heard that is taking it over but know of him. Then again you know how scuttlebutt is in the industry.

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[QUOTE=CaptDag;108088]I know that Chouest is building two construction vessels at its Larose yard. the first hull is in final stages sporting a large bulbous bow. any Chouest employees have additional info??[/QUOTE]

Interesting!!! I know that Chouest owns those two brand new 150 ton McGregor heave comp cranes that are sitting on the dock at Fourchon heavy lift. I wonder if these two boats and the cranes are destin for each other?

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I haven’t seen the cranes any where on the dock for these Harvey boats. I’ve seen them do incline testing next door already. I thought the crane would have to be in place but I guess not.

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I heard that boat in Larose is a 280’ class mud boat and they’re slapping a crane on it.

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What is the straight story on Harvey?

one posts say the are paying close to top money, others say expect a pay cut. There are some posts saying that they are “hard to work for” but I haven’t seen any that actually say what is supposedly wrong with them.