An engineer buddy of mine at Jackson Offshore told me that they were told not to send in any requisitions. Financial Trouble? Has anyone heard anything?
I heard the same thing. A friend of mine said he was in their office and overheard the office staff discussing how tight things were.
I heard they were hurting too. A friend of mine was in their office last week and overheard the office staff talking about it. Anybody else heard anything? I was thinking about applying but not if they are already going under.
I heard the same thing. I have a friend that was in their office a week or so ago and he heard the office staff talking about how tight things are and that they have not been paid by the charterer. Sounds like they are living paycheck to paycheck.
I also heard things were really tight over there. I know a new hire Captain over there who is scared to death. He said he NEVER would have left his previous company if he had known how bad it was at Jackson.
It’s True. Things are bad. We haven’t gotten supplies in over a month. We heard it is because the charterer hasn’t paid the bill.
Why start all the drama!!
[QUOTE=Curt12;153707]Why start all the drama!![/QUOTE]
What drama? Sounds like a dwcnet question for down here right now?
[QUOTE=Curt12;153707]Why start all the drama!![/QUOTE]
You heard it here first folks… Jackson offshore is officially going under!
[QUOTE=Ea$y Money;153739]You heard it here first folks… Jackson offshore is officially going under![/QUOTE]
I hardly believe that. The new 300ft “Breeze” OSVs they have is on contact with Shell at the Jack/St Malo and they have 2 other big boys with DP3 coming out from BAE anytime now. I’m actually thinking about going to try to go work over there if they insure I get an AB spot of one of those
[QUOTE=bcoogan23;153745]I hardly believe that. The new 300ft “Breeze” OSVs they have is on contact with Shell at the Jack/St Malo and they have 2 other big boys with DP3 coming out from BAE anytime now. I’m actually thinking about going to try to go work over there if they insure I get an AB spot of one of those[/QUOTE]
Your facts are a little off. They’re 260’s and DP-2 not 300’s and DP-3. They are however on long term contracts and have 3 more big boats coming out after the Breeze. Matter of fact, I heard the 2nd vessel is going on sea trials next week. All boats are on long term charters, wouldn’t worry about them going out of business. If so, would like someone to clarify this with facts and not speculation.
Friend of mine just got hired there. Said new builds have 5 year contracts with majors like Chevron. Pay is pretty competitive. A tad higher than GM. Forgot to ask about benefits.
I wouldn’t rely on hear say of “oh this boat has a 2 year this boat has a 5 year long term contract,” it’s much easier for a major to buy/get out of a osv contract than you may think. It’s being done with a few rigs at the moment…
[QUOTE=Saltine;153763]Your facts are a little off. They’re 260’s and DP-2 not 300’s and DP-3. They are however on long term contracts and have 3 more big boats coming out after the Breeze. Matter of fact, I heard the 2nd vessel is going on sea trials next week. All boats are on long term charters, wouldn’t worry about them going out of business. If so, would like someone to clarify this with facts and not speculation.[/QUOTE]
Oh whoops. I swear I read somewhere that the two new ones about to be done were gonna be DP3 and 260 is close enough to 300 lol.
[QUOTE=FourchonShuffle;153767]I wouldn’t rely on hear say of “oh this boat has a 2 year this boat has a 5 year long term contract,” it’s much easier for a major to buy/get out of a osv contract than you may think. It’s being done with a few rigs at the moment…[/QUOTE]
I’d say it is not so much of the operators wanting to be out from under these commitments but more on the order of “the price is way down and so is our cash flow so why don’t we share the pain a little with you giving us a break on the rates?” Now the Jackson boats are all way behind schedule being delivered so it is quite possible that the charterers already have what they need to get out of the charters but why turn away a brand new boat which meets your needs as long as you can trim the cost of it? When the boat owners get squeezed by the operators, you know that they will be forced to cut all the costs they can and one of the easiest ways to is to trim the wages of the crews who can’t go anyplace else.
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[QUOTE=bcoogan23;153770]Oh whoops. I swear I read somewhere that the two new ones about to be done were gonna be DP3 and 260 is close enough to 300 lol.[/QUOTE]
DP3 literally requires two entirely separated enginerooms. Hard to do on a supplyboat.
[QUOTE=c.captain;153771]I’d say it is not so much of the operators wanting to be out from under these commitments but more on the order of “the price is way down and so is our cash flow so why don’t we share the pain a little with you giving us a break on the rates?” Now the Jackson boats are all way behind schedule being delivered so it is quite possible that the charterers already have what they need to get out of the charters but why turn away a brand new boat which meets your needs as long as you can trim the cost of it? When the boat owners get squeezed by the operators, you know that they will be forced to cut all the costs they can and one of the easiest ways to is to trim the wages of the crews who can’t go anyplace else.
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DP3 literally requires two entirely separated enginerooms. Hard to do on a supplyboat.[/QUOTE]
Plus, let’s keep in mind the amount of posts the guys starting the “drama” in this thread have. Things are tight for everyone, some more than others. I have never in my life heard of a company not sending supplies because the charterer didn’t pay the bill. I’m sure they’ve been asked to lower their rates somewhat but who in this market hasn’t been asked to do so?
Too many people on here stirring the pot with hearsay, rumors and misinformation.
And with the term “buy out” this goes hand in hand with a negotiation clause set forth in the contract
[QUOTE=FourchonShuffle;153775]And with the term “buy out” this goes hand in hand with a negotiation clause set forth in the contract[/QUOTE]
You’re absolutely right but the original comments were they were in financial trouble. I’m sure if Chevron could backout there would be a fairly hefty penalty payout.
[QUOTE=Saltine;153774]Plus, let’s keep in mind the amount of posts the guys starting the “drama” in this thread have. Things are tight for everyone, some more than others. I have never in my life heard of a company not sending supplies because the charterer didn’t pay the bill. I’m sure they’ve been asked to lower their rates somewhat but who in this market hasn’t been asked to do so?
Too many people on here stirring the pot with hearsay, rumors and misinformation.[/QUOTE]
“That’s the trouble with quotes posted on the internet… no one knows if they are authentic” - Abraham Lincoln
Did you guys hear? Hornbeck is going out of business and the rumor is that McAllister tugs will be buying them!!! :o