Seabulk Offshore adds to fleet
Seabulk International, Inc. (Nasdaq: SBLK) today announced that it had taken delivery of two newbuild vessels for its international offshore fleet -- the Seabulk Angra and Seabulk Advantage -- bringing to nine the number of new vessels added in the last two years.
The Seabulk Angra is a 5,500-horsepower, 236-foot UT-755L platform supply vessel built at the Promar shipyard outside Rio de Janeiro. It will join its sister vessel, the Seabulk Brasil, on a two-year time charter, with options, for Petrobras, the Brazilian national oil company, ferrying equipment and supplies to offshore drilling rigs in the Campos Basin.
Offshore Brazil is a new market for Seabulk and a promising area for significant new offshore oil and gas discoveries.
The Seabulk Advantage is a 4,800-horsepower, multi-purpose offshore supply vessel equipped with a four-point-mooring system and purchased from Jaya Shipbuilding & Marine, Pte. of Singapore. It will work offshore Angola on a five-year time charter, with options, for a major international oil company.
Seabulk currently has five vessels working in Angola, which is fast becoming a major supplier of crude oil exports.
Seabulk Offshore has two additional offshore vessels scheduled for delivery in 2005 and four in 2006.
With operations in more than 25 countries, Seabulk Offshore is the largest subsidiary of Seabulk International, Inc., accounting for about half the company's total revenue. Seabulk Offshore's global fleet of 110 vessels serves customers in North and South America, West Africa, the Middle East, and Southeast Asia.
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