Hornbeck Offshore to Have 30 OSVs Stacked by End of Year
Hornbeck Offshore is about to have greater than 30 OSVs fleet stacked by year-end because the droop in oil costs continues to wreck havoc on the offshore market.
The firm, which owns and operates a fleet new era OSVs principally working within the U.S. Gulf of Mexico, revealed the brand new numbers in its Third Quarter outcomes launched Wednesday.
Hornbeck mentioned it now has 27 new era OSVs laid-up, with one other three pending for This autumn. By yr finish, the 30 stacked vessels will symbolize about half of the corporate’s OSVs. Hornbeck’s fleet at present consists of 59 OSVs, however that’s anticipated to extend to 61 vessels if scheduled deliveries in This autumn go based on plan.
Hornbeck final reported it had 18 new era OSVs stacked in its Q1 outcomes launched in April. At the time, the corporate mentioned the lay-ups had been a part of aggressive price chopping measures undertaken in response to tender market circumstances. Other measures included company-wide headcount reductions and across-the-board pay-cuts for shore-side personnel, the corporate mentioned in April.
Hornbeck reported that for the third quarter of 2015, revenues had been $116.3 million, a lower of $50.6 million, or 30.3%, from the identical interval final yr.
In 2016, the corporate says it expects to have a median of 30 new era OSVs stacked all through the yr.
Right now, Horneck is within the midst of its fifth OSV newbuild program, consisting of 24 vessels whole. Of these, 17 have already been positioned in service, with the seven remaining anticipated be delivered in This autumn 2015 and 2016. Hornbeck warned nonetheless that it has skilled deficiencies at two of the shipyards, which may probably influence their scheduled supply.
Weekly Insights from the Helm
Dive right into a sea of knowledge with our meticulously curated weekly “Dispatch” e-mail. It’s greater than only a publication; it’s your private maritime briefing.
