Laborde Marine reports management changes

DECEMBER 19, 2018 — New Orleans headquartered offshore service vessel operator Laborde Marine Management, LLC reports that Ashton P. Laborde has been appointed as President of the company effective January 1, 2019.

Mr. Laborde joined the Company in 2007 and most recently served as Director of Marketing. Throughout his career at Laborde Marine, Ashton has held various positions of increasing importance in operations.

Mr. Laborde received a Bachelor of Arts Degree in 2006 from Louisiana State University.

The company also announced that John Peter Laborde, III, has joined it as Director of Finance. John Peter recently received a Master's in Accounting and a Master's of Management in Energy from Tulane University.

Additionally, Tony Lusco will be promoted to the position of Vice-President of Operations, Robert Arceneaux will become the Director of Health, Safety and Environment, Jeff Fegenbush will become Director of Human Resources and Personnel, and Ray Hoover will join the Company as a Marine Manager.

Jimmy D. Skiles, who has served as Vice-President of Operations for the last 25 years, will be retiring as of December 31, 2018, but will continue serving as a marketing representative for select accounts.

Peter Laborde, a managing member of the company, commented, "We are pleased to have Ashton Laborde assume the reins of the day to day operations for Laborde Marine. Ashton has significant experience with the company and understands the vessel business very well. We are also pleased with the additional announcements which include several key new additions and promotions to add to Laborde Marine's capabilities. Finally, we wish Jimmy Skiles all the best for a happy and rewarding retirement. We are pleased that Jimmy will continue his association with the Company as a marketing consultant, after having served the Company well for the last 25 years."

Operations Update

Laborde Marine reports that, effective December 10, the company assumed the management of the two vessels owned by Hillman Maritime Services, LLC, of Lafayette, LA. Michael Hillman, owner of Hillman Maritime, commented, "I am pleased to turn over the day to day management of my vessels to Laborde Marine, which has an exemplary reputation for managing and operating vessels in an efficient manner. Laborde Marine's commitment to safety is unsurpassed in the offshore industry."

Additionally, effective December 9, 2018, the company bareboat chartered the vessel Cindy Jean Lab from PNC Equipment Finance, LLC. The 260 foot class offshore supply vessel will commence working in the U.S. Gulf of Mexico.

Peter Laborde commented, "We are pleased that PNC chose Laborde Marine to manage the refurbishment and recertification of the Cindy Jean Lab, and then chartered the vessel to us. We are excited to be able to put the vessel to work immediately."

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