Hornbeck awards Bollinger contract to stretch six OSVs

HOSstretch SmallOCTOBER 10, 2012 — Covington, La., headquartered Hornbeck Offshore Services, Inc. (NYSE: HOS) has warded Bollinger Shipyards, Inc. a contract to convert six 200 class DP1 offshore supply vessels (OSVs), to 240 class DP2 OSVs.

Bollinger executive vice president Ben Bordelon said, "We are very pleased to announce the award of the HOS Super 200 conversion program. Our relationship with Hornbeck Offshore goes back many years and we are proud to be a part of their continued commitment to better service their clients with this advancement of their fleet."

Hornbeck announced its plans to convert the vessels last month, at the same time that it reported that it had exercised four more newbuilding options for 300 ft platform supply vessels, ordering two each from VT Halter Marine and Eastern Shipbuilding (see earlier story).

At that time Hornbeck did not disclose the name of the shipyard that would permorm the conversions but said that the vessels six of its ten Super 200 class DP-1 vessels, four of which had recently completed two-year charters with Petrobras in Brazil.

The six OSVs were built in 1999 and 2000 and were acquired by Hornbeck in 2007. Due to their 56-foot wide beams, the planned 40-foot mid-body extensions and DP-upgrades are expected to add approximately 600 tons to the vessels' 2,250 tons of current deadweight capacity and roughly double the vessels' current liquid-mud capacity to approximately 8,000 barrels.

Hornbeck said that based on preliminary estimates, it expected the yard to complete two of the six vessels in each of the following redelivery months: May 2013, August 2013 and December 2013, respectively. Hornbeck said project costs for the conversions were expected to total $50 and that it expected to incur approximately 762 vessel-days of total commercial downtime for the six vessels (127 vessel-days each).

Today, Bollinger said that, to meet the aggressive delivery schedule required by Hornbeck, it will carry out the conversions at two separate Bollinger facilities, Bollinger Larose, L.L.C. and Bollinger Morgan City, L.L.C. Both facilities have long standing business relationships with Hornbeck, and both facilities have serviced the super 200's for regulatory and routine maintenance over the years.


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