Harvey Gulf acquires six PSVs and five crewboats

5/20/2013

In May, Harvey Gulf International Marine announced three deals worth $540 million that involve 14 vessels. The New Orleans offshore service vessel operator is also negotiating to have 10 new crewboats built.

The three agreements will raise the total capital expenditures by Harvey Gulf to $1.7 billion since August 2008.

In the first agreement, Harvey Gulf awarded a contract to Eastern Shipbuilding Group, Panama City, Fla., for the construction of two STXCV 340'×73'×29'6" heavy lift construction vessels. The vessels, to be named the Harvey Sub-Sea and the Harvey Blue-Sea, will feature a 250-MT active heave compensated crane for deep water lowering. The vessels will also have 12,000 sq. ft. of usable deck space, accommodations for 120 crew in single and double occupancy quarters, three lounges, two gymnasiums, three conference rooms, and a 48-person theater.

The two vessels are in addition to a STXCV 310 light construction vessel, the Harvey Deep-Sea, due for delivery in July from Eastern. The two heavy construction vessels are due for delivery in 2016. 

Harvey Gulf also exercised an option with TY Offshore for the construction of a sixth dual-fuel offshore service vessel at TY in Gulfport, Miss.

The third and final deal was with Gulf Offshore Logistics, Lafayette, La., for the purchase of 11 DP-2 offshore supply and crew-suppliers. The purchase includes six PSVs that range from 250'/2,650 DWT to the two 295'/5,200-DWT Z-drives currently being built at Thoma-Sea Shipbuilders in Houma, La. The addition of GOL's five crew-suppliers/fast supply vessels will enable Harvey Gulf to break into the crewboat market. The crew-suppliers range in size from 180' to 225'.

 “The Gulf Offshore acquisition gets us into another piece of the market I am not in,” said Harvey Gulf CEO Shane Guidry. “I’ll get my feet wet, and I’ll build a bunch of them.”

Guidry was referring to current negotiations with TY Offshore to build 10 200' fast crewboats. Guidry said he has $100 million earmarked for the crewboats. The crewboats will have “more of a yacht feel,” and feature 80 comfortable, theater-style seats and all the modern crew and passenger comforts. The boats will be built at TY’s Trinity Yachts shipyard in New Orleans. The work could begin within 90 days if a deal is reached soon.

“We’ll make them more comfortable for the passenger, more so than anything that is out there now,” said Guidry. “We'll build crewboats and put yacht interiors in them. John [Dane of TY] is a great yacht builder so he’ll build a great crewboat.” 

The two heavy construction vessels to be built at Eastern will allow Harvey Gulf to maintain its position as the largest U.S.-flag owner of vessels with the ability of deploying over 135 MT to water depths of 3,500 meters with lifting hook heights of 40 meters above the main deck, Guidry said.

Harvey Gulf has also opened a sales and engineering office in Houston to help support the company’s growth.

When the deal closes in June, Harvey Gulf will own 46 deepwater, DP-2 vessels with an average age of less than five years old.


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