Harvey Gulf to stretch Bee Mar OSVs, adds to TY newbuilds

SEPTEMBER 26, 2012 — New Orleans headquartered Harvey Gulf International Marine, LLC continues to expand its capacity. Today it closed its $234 million asset purchase for nine Bee Mar, LLC offshore supply vessels (see earlier story) and announced that, as well as renaming them consistent with other Harvey Gulf vessels, it has already begun seeking bids to stretch five of them to meet 250 ft OSV class specifications.
 
At the same time, Harvey Gulf also announced that it has exercised two of its four options to construct additional LNG-fueled OSV’s at TY Offshore (see earlier story) and added two additional options, which will eventually bring Harvey’s newbuild LNG OSVs fleet to 10 vessels.

Harvey CEO Shane Guidry commented, “It has always been our full intent to own and operate 10 LNG OSV’s making Harvey the largest owner/ operator of the greenest OSV fleet in America. As public companies throughout the world strive every day to return shareholder value, I have to do the same, but on a more manageable private level.”

With the Bee Mar acquisition and the agreement with TY, Harvey will own 26 deepwater offshore service vessels that can deliver 102,000 tons of deadweight cargo to the market daily, with seven more under construction, including six 300 ft class LNG-powered OSV’s.  Harvey has also expanded its operations to include the U.S. Gulf of Mexico, Alaska, Mozambique and Israel.