Hornbeck Offshore, one of the largest operators of offshore supply vessels in the U.S. Gulf of Mexico, revealed Thursday that the company has now stacked a total of 18 new generation OSVs, part of aggressive cost cutting measures undertaken by the company in response to tough market conditions. The number of stacked vessels is up 12 OSVs since last reported, the company … [Read more...]
Hornbeck Completes Sale of OSVs to U.S. Navy
Hornbeck Offshore Services, Inc. (NYSE: HOS) announced Monday that it has closed the sale of three offshore supply vessels to the U.S. Navy. The type 250EDF OSVs - the HOS Arrowhead, the HOS Eagleview and the HOS Westwind - have been chartered to the U.S. Navy since their construction in 2008 and 2009, supporting the U.S. Navy's submarine fleet on the east and west coast of … [Read more...]
Maersk Announces Layoffs
The offshore sector took another hit today as Maersk Supply Service and Maersk Drilling both announced major layoffs at their corporate headquarter in Denmark. Maersk Supply says they will be laying off 20 of their employees and Maersk Drilling will be reducing head count by 90. “We are facing challenging market conditions in the coming years. Oil prices have dropped … [Read more...]
Hornbeck Confident New Rigs Will Get Absorbed in Gulf of Mexico
Hornbeck Offshore (NYSE: HOS), a Gulf of Mexico-focused operator of offshore support vessels reported a strong second quarter today with a 25 percent jump in upstream revenue to $171.1 million over the previous quarter while diluted earnings per share were up 174 percent. HOS attributes the revenue jump to "the full or partial-period contribution of 13 vessels that were … [Read more...]
WATCH: HOS Black Watch Christening and Launch Ceremony
On Friday June 6, the HOS Black Watch was launched at Eastern Shipbuilding's Allanton facility in Panama City, Florida. The HOS BLACK WATCH is the fourth of six Eastern Shipbuilding vessels designated as the HOSMAX 310 series by Hornbeck Offshore Services and is a diesel-electric powered, twin Z-drive propelled OSV. The high-tech vessels feature four Caterpillar 3516C … [Read more...]
SPOTD: Supplying the Lewek Falcon in Green Canyon
"Doing groceries, bunkers and water at the Lewek Falcon" Image shot by Benjamin Moll from Green Canyon 609 in the Gulf of Mexico from the HOS Beaufort The Lewek Falcon is a 93 meter ultra-deepwater subsea construction vessel/AHTS owned by EMAS. … [Read more...]
Hornbeck Offshore Invests in Hot MPSV Market, Sees Growth in the Gulf of Mexico
Hornbeck Offshore CEO and Chairman Todd Hornbeck expressed optimism today during his company's 2013 earnings call. He noted an increase of $43.7 million in upstream operating income reflecting a 48 percent increase over last year's figures. "Overall, the top-line story was strong and consistent marketing conditions for our vessels," noted Hornbeck. Conditions were … [Read more...]