so Fraq, what is HOS’s amortization schedule for each vessel of theirs? On a $35M newbuild, for the boat to be fully paid off in 5 years, it needs to earn $7M a year above all operating expenses (including G&A) as well as any interest paid on notes. $7M a year is just short of $20k/day just going to the paying it off every single day for 5 years.
985-727-2000 you wanna asked for a fella named Jim Harp. He’s the only guy that can give you that info… If he were so inclined. Good luck with that…
[QUOTE=Fraqrat;161537]985-727-2000 you wanna asked for a fella named Jim Harp. He’s the only guy that can give you that info… If he were so inclined. Good luck with that…[/QUOTE]
then how on earth can you tell us all this equipment is fully amortized? You’re either regurgitating HOS propaganda or you are just pulling this out of your ass…
I know for a fact that they have crew that “look over” a few boats that are tied up. They aren’t just sitting there by themselves with no crew, the boats are being looked after
Not looking for a fight. Your comment was about the original article, which I read correctly, though I can see how some might find it disingenuous since “newest generation” doesn’t necessarily include vessels from the latest build program. I like HOS as a company/stock; they seem to have a handle on managing the current situation. I’d still be hesitant to say all the newbuilds are “paid for.” That’s not entirely accurate either. There is a difference between fully funded, like that program, and paid for. The former involves debt, the latter insinuates no debt. Either way, I agree there is no need for doom and gloom in the near term.
I never insinuated new boats were fully paid for. The article was discussing stacked “new gen” vessels. The 18 in question do not include brand new Hosmax vessels. I have no desire to argue about it either.
Scooter if you are looking for how the vessels are being paid for our CFO is the best guy to ask. Maybe you can try and buzz in on the next earnings call.
There are two BRAND new HOS MAX vessels that are on shore power at HOS Port…aI have a former shipmate on one of them - The HOS Black Foot.
We put these boats on shore power all the time in between charters or when on down time. It doesn’t mean they are stacked.
I helped pull the HOS Voyager out of stack in 2012 and they sure did have crew taking care of the stacked boats, and it took WAY more than a couple hours to get it back in service.
That particular class vessel is a different story all together.
[QUOTE=Fraqrat;161545]I never insinuated new boats were fully paid for. The article was discussing stacked “new gen” vessels. The 18 in question do not include brand new Hosmax vessels. I have no desire to argue about it either.[/QUOTE]
the article specifically states “new gen” and I am saying you are talking out your ass when you claim them to be fully amortized. You offer no proof whatsover to your farcical claim other than for us to believe you yet then you say we need to speak to someone higher up. Why do you make such a claim when you have no way to prove it?
You asshat my first response at 1100 on 5-2-15 I posted it was older vessels. My next response at 1336 on 5-2-15 reiterated my earlier point in reference to the older stacked vessels. Yesterday at 1500 Traitor Yankee further confirmed we were discussing older vessels which are the one that are stacked. Then you asked today about amortization of $35mill boats which are the new Hosmax vessels not the “new generation” 18 that are stacked. So I’m not talking out of my ass and you shipmate are confused about what was being discussed. As for the other issue I’m not authorized nor am I inclined to discuss company business with you. If you want that info you can get it from the people whose job it is to discuss it with the general public.
[QUOTE=Fraqrat;161547]We put these boats on shore power all the time in between charters or when on down time. It doesn’t mean they are stacked.[/QUOTE]
Exactly, its better to be on shore power than running off your generators and putting hours on them. It takes our boat 10 mins to swap from shore power from our generators.
The term “new gen” isn’t the same as HOSMAX. Those “new gen” vessels average 12 years old, I would say yes, they’re all paid for. As for as new builds on shore power, there’s been a couple on shore power. Why? They have been working on projects while they have down time, the crews were not reduced.
[QUOTE=c.captain;161536]so Fraq, what is HOS’s amortization schedule for each vessel of theirs? On a $35M newbuild, for the boat to be fully paid off in 5 years, it needs to earn $7M a year above all operating expenses (including G&A) as well as any interest paid on notes. $7M a year is just short of $20k/day just going to the paying it off every single day for 5 years.[/QUOTE]
I’d say $20k/day is on the low side for when those vessels brand new.
Most of the GoM companies have them paid for in no more than 7 years. Most of them in 5.
I’m not aware of any Big Orange 312’s that have hit the water without a long term contract ? Please specify which were built on Spec?
I’d say that $35m doesn’t come close to buying a 300’ HOSMAX… ,probably closer to $60m
http://www.marinelog.com/index.php?option=com_k2&view=item&id=3070:hornbeck-orders-two-more-from-eastern-shipbuilding&Itemid=231
Doing the math given by this article when they signed the contract for these vessels indicates about $45 million a pop.
[QUOTE=St@nley68;161614]I’d say that $35m doesn’t come close to buying a 300’ HOSMAX… ,probably closer to $60m[/QUOTE]
$60m is far too much. I have heard around $40m.
[QUOTE=JayNola;161629]http://www.marinelog.com/index.php?option=com_k2&view=item&id=3070:hornbeck-orders-two-more-from-eastern-shipbuilding&Itemid=231
Doing the math given by this article when they signed the contract for these vessels indicates about $45 million a pop.[/QUOTE]
Thanks. That’s closer to what I’ve heard.
[QUOTE=John Galt;161633]$60m is far too much. I have heard around $40m.
Thanks. That’s closer to what I’ve heard.[/QUOTE]
So only 2 1/2 times as expensive as one of these
