Page 1 of 2 12 LastLast
Results 1 to 12 of 22

Thread: Harvey Gulf buys ACO (Unconfirmed) -Update (Confirmed)

  1. #1
    Irishpirate78 is offline Just Browsing
    Join Date
    Sep 2013
    Posts
    1
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Harvey Gulf buys ACO (Unconfirmed) -Update (Confirmed)

    Listening to the radio this morning and I heard several boats talking about the Harvey/ACO buyout finally happened. Same thing being said by everyone around Fourchon. Anyone got the inside track to confirm?

  2. #2
    ryanwood86's Avatar
    ryanwood86 is offline Top Contributer
    Join Date
    Dec 2010
    Location
    Virginia
    Posts
    672
    Thanks
    106
    Thanked 216 Times in 122 Posts

    Default

    Yea I hear it was a done deal, just a little paperwork to get finished up and it looks like it got done. The DP 1 boats will be sold off.....maybe that's why the "action" on the Hornbeck DP1 boats dried up.

  3. #3
    rigdvr's Avatar
    rigdvr is offline Top Contributer
    Join Date
    Mar 2010
    Location
    Gautier MS
    Age
    38
    Posts
    705
    Thanks
    137
    Thanked 461 Times in 210 Posts

    Default

    Whoever theorized about Harvey posturing for a big payday via IPO is looking like a genius at this point. What else could explain some of the moves they are making? Just showing "market share" on paper.

  4. The Following 3 Users Say Thank You to rigdvr For This Useful Post:

    charlottehard (September 12th, 2013), threewhistles (September 9th, 2013), z-drive (September 8th, 2013)

  5. #4
    ryanwood86's Avatar
    ryanwood86 is offline Top Contributer
    Join Date
    Dec 2010
    Location
    Virginia
    Posts
    672
    Thanks
    106
    Thanked 216 Times in 122 Posts

    Default

    So now will there be an Infant Guidry of Galliano?

  6. The Following 4 Users Say Thank You to ryanwood86 For This Useful Post:

    boatengineer (September 8th, 2013), coldduck (September 8th, 2013), kzoo pilot (September 9th, 2013), Traitor Yankee (September 8th, 2013)

  7. #5
    Traitor Yankee's Avatar
    Traitor Yankee is offline Top Contributer
    Join Date
    Mar 2012
    Location
    MA
    Posts
    815
    Thanks
    1,336
    Thanked 859 Times in 356 Posts

    Default re: Harvey Gulf buys ACO (Unconfirmed) -Update (Confirmed)

    Quote Originally Posted by ryanwood86 View Post
    So now will there be an Infant Guidry of Galliano?
    my girlfriend has no idea why I am laughing, I tried to explain it, still looking at me funny. Only in the oil patch.

  8. The Following 2 Users Say Thank You to Traitor Yankee For This Useful Post:

    kzoo pilot (September 9th, 2013), ryanwood86 (September 8th, 2013)

  9. #6
    stick is offline gCaptain Crew
    Join Date
    Sep 2008
    Posts
    63
    Thanks
    0
    Thanked 12 Times in 4 Posts

    Default re: Harvey Gulf buys ACO (Unconfirmed) -Update (Confirmed)

    so I guess there is no reason to apply for employment with ACO unless you just hold a 100 ton

  10. #7
    BilgeRat42 is offline gCaptain Crew
    Join Date
    Jun 2012
    Location
    New England
    Posts
    31
    Thanks
    14
    Thanked 18 Times in 12 Posts

    Default re: Harvey Gulf buys ACO (Unconfirmed) -Update (Confirmed)

    Quote Originally Posted by ryanwood86 View Post
    So now will there be an Infant Guidry of Galliano?
    I'm looking forward to seeing "St. Joseph the Hustler" coming up the channel.

  11. #8
    z-drive's Avatar
    z-drive is online now Top Contributer
    Join Date
    Oct 2012
    Location
    Made up in push-gear
    Posts
    2,420
    Thanks
    921
    Thanked 1,432 Times in 820 Posts

    Default

    Quote Originally Posted by rigdvr
    Whoever theorized about Harvey posturing for a big payday via IPO is looking like a genius at this point. What else could explain some of the moves they are making? Just showing "market share" on paper.
    Inevitable! Then they will slash dayrates as the fat cats on the board will refuse to pay someone with a HS diploma excess of six figures when that money could be going in their pockets instead. Joe boss baby! Here's to hoping that wont happen but strange things can happen when you're suddenly public.
    Last edited by z-drive; September 9th, 2013 at 02:45 AM.

  12. #9
    Saltine is offline Old Salt
    Join Date
    Mar 2010
    Posts
    294
    Thanks
    7
    Thanked 174 Times in 82 Posts

    Default re: Harvey Gulf buys ACO (Unconfirmed) -Update (Confirmed)

    Quote Originally Posted by ryanwood86 View Post
    Yea I hear it was a done deal, just a little paperwork to get finished up and it looks like it got done. The DP 1 boats will be sold off.....maybe that's why the "action" on the Hornbeck DP1 boats dried up.
    After talking to various sources the 200' DP-1 market has seen a decrease in day rates lately. They're down to the $10,500-13,000/day range whereas HOS was getting much higher for the vessels recently. In my opinion they were only taking jobs with super high day rates to have good numbers to show potential buyers. Day rates for mariners has affected this class of vessel more than anything else over the last year or so. They need 1600T guys, DP Certs, STCW, etc.... but you're pulling from the same pool of guys that are capable of working on a much bigger vessels for $800/day plus. To be profitable the licensed officers on these boats need to be in the $500/day range.

    I think its only a matter of time, middle of next year, that Harvey Gulf goes public. Too much money being spent on acquisitions, dock facilities and new builds for that size company.

  13. #10
    Capnklump's Avatar
    Capnklump is offline Old Salt
    Join Date
    Aug 2011
    Location
    Southwest Louisiana
    Posts
    229
    Thanks
    38
    Thanked 26 Times in 24 Posts

    Default

    Quote Originally Posted by Saltine

    After talking to various sources the 200' DP-1 market has seen a decrease in day rates lately. They're down to the $10,500-13,000/day range whereas HOS was getting much higher for the vessels recently. In my opinion they were only taking jobs with super high day rates to have good numbers to show potential buyers. Day rates for mariners has affected this class of vessel more than anything else over the last year or so. They need 1600T guys, DP Certs, STCW, etc.... but you're pulling from the same pool of guys that are capable of working on a much bigger vessels for $800/day plus. To be profitable the licensed officers on these boats need to be in the $500/day range.

    I think its only a matter of time, middle of next year, that Harvey Gulf goes public. Too much money being spent on acquisitions, dock facilities and new builds for that size company.
    I'm not saying they wont go public, but look how big Chouest has become, & still privately owned.. Of course Gary has not gone to the extent Shane has on "vessel" aquisitions. But there are many variables to consider.

  14. #11
    rigdvr's Avatar
    rigdvr is offline Top Contributer
    Join Date
    Mar 2010
    Location
    Gautier MS
    Age
    38
    Posts
    705
    Thanks
    137
    Thanked 461 Times in 210 Posts

    Default

    Quote Originally Posted by Capnklump

    I'm not saying they wont go public, but look how big Chouest has become, & still privately owned.. Of course Gary has not gone to the extent Shane has on "vessel" aquisitions. But there are many variables to consider.
    I don't believe Gary used investment firms to the extent Shane is either. I know of some limited deals that got him out of a hard spot but if I'm reading the releases right, Harvey is growing primarily of outside investors?

  15. #12
    z-drive's Avatar
    z-drive is online now Top Contributer
    Join Date
    Oct 2012
    Location
    Made up in push-gear
    Posts
    2,420
    Thanks
    921
    Thanked 1,432 Times in 820 Posts

    Default

    gCaptain Maritime Jobs
    Apples to oranges. Harvey is highly leveraged by outside investors; no reason to build market share and take on all that debt unless public is the goal.

  16. The Following 2 Users Say Thank You to z-drive For This Useful Post:

    Jemplayer (September 9th, 2013), Traitor Yankee (September 9th, 2013)

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Join us
Privacy Policy 2015 Unofficial Networks LLC

Content Relevant URLs by vBSEO 3.6.1