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March 15, 2006

Harvey Gulf in $200 million construction program

Harvey Gulf International Marine, Inc., Harvey, La., says it has committed to investing well over $200 million in new build construction projects.

Vessels under construction for the company at Eastern Shipbuilding, Panama City, Fla., include three 280 ft offshore supply vessels, a 16,500 bhp towing/anchor handling tug and a 265 ft dive support/well intervention vessel/

The first of the 280 ft OSV's, the Harvey Spirit has an expected delivery date of September 2006 and will start a 2 year charter with a major U.S. Gulf of Mexico operation as soon as Harvey Gulf takes delivery.

Harvey Gulf says its 280 ft class of OSV's will have more clear deck space (202 ft x 52 ft) than any vessel of similar class and will offer 11,000 barrels of Liquid Mud, 12,000 cubic feet of Bulk capacity and are ABS Certified DP2.

The other two vessels of this class are being built under a new contract signed in January and have anticipated delivery dates in April and July 2007.

The 16,500 hp offshore towing/anchor handling tug is being built under a contract signed with Eastern last month and has an expected delivery date of September 2007.

It will be a sister vessel to what Harvey says is "the strongest tug already operating in the U.S. Gulf of Mexico, our M/V Harvey War Horse."

Anticipated bollard pull will be 170-plus tons. The vessel will be equipped with Dynamic Positioning Class 1 capabilities, shark jaws, bow thrusters, Kort nozzles and an open stern for anchor handling.

The 265 ft dive support/well intervention vessel Harvey Discovery is scheduled for delivery from Eastern next month when it is to begin a three year charter with Saipem Americas working on subsea construction projects.

The vessel is ABS Certified Dynamic Positioning Class II.

It is equipped with a 75 ton crane and moon pool and will also have multi-industry capabilities. It can also be used as an OSV (with its liquid mud and dry bulk capacities) to support drilling rig operations should it be called upon for those duties.

Meantime, Harvey GulfŐs 13,500 hp offshore tug, Harvey Titan, is presently undergoing conversion work that, says Harvey, will make it the first U.S.-flag tug to have Dynamic Positioning Class 1 capability. The conversion work should be completed this month.

The DP1 capability will greatly enhance the vessel's station keeping ability during connecting, holding and disconnecting from rigs during strong loop current and marginal weather conditions

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