USA: Harvey Gulf Inks Long-Term Charters on Three LNG OSVs

Today, Harvey Gulf International Marine announced that it has signed long term charters for 3 of its LNG powered Offshore Supply Vessels, making Harvey Gulf the first company to build and contract Liquefied Natural Gas powered Offshore Support Vessels for Deepwater Exploration and Production in America.

The HARVEY ENERGY, HARVEY POWER and HARVEY LIBERTY will begin providing deepwater OSV services immediately upon delivery in 2013 and 2014.

Harvey Gulf also announced that it took delivery of its final Tiger-Shark Class 300’ Offshore Supply Vessel, the HARVEY CHAMPION, on August 8, 2012. Immediately following delivery, the CHAMPION began a multi-year charter for operation in the U.S. Gulf of Mexico.

Harvey Gulf’s CEO, Shane Guidry, says that he was able to appreciate, years before his competitors, the advantage of using LNG for his Vessels’ fuel source. According to Mr. Guidry “The operations savings, coupled the stringent emissions rules that begin in August and will increase over the coming years, will put our customers in the best possible position to operate. In additional running on cleaner and cheaper natural gas, customers will not have to depend on Scrubber Systems using particulate filters and Urea, which can increase the cost of fuel by as much as 30 percent.” Mr. Guidry also believes that LNG Vessels will assist in making it possible customers to drill in the Eastern Gulf in the near future, where permitting is likely to require the best available technology and practices for containment of emissions.

Harvey Gulf also announced that it contracted with a shipyard to construct a dry-dock measuring 320′ x 120′ x 12′, with 9000 Long tons of lifting capacity. Mr. Guidry commented “with a fleet of 32 deepwater vessels and 6 additional ones on the drawing board, the dock will lower our maintenance and repair costs and reduce vessel downtime by eliminating delays from limited availability of dry-docks for high deadweight capacity vessels.” When the dock delivers in 2013, it will be placed at one of the two terminals the company is building in Port Fourchon, Louisiana. Harvey Gulf will also provide dry-dock related services to other vessel operators.