Tidewater Marine Buys T1 Vessels From Halter Marine For $33 Million
Tidewater Inc.'s marine subsidiary, Tidewater Marine Service, Inc., will purchase 11 offshore oil field support vessels from Halter Marine, Inc. at a price of approximately $33 million.
Announcement of the acquisition was revealed by Sam S. Allgood, an executive vice president of Tidewater Inc. and president of Tidewater Marine Service, Inc., and Harold P. Halter, chairman of Halter Marine.
Mr. Allgood said that eight of the vessels are available for immediate delivery and the balance will be completed during the first quarter of 1983.
The new equipment will enable Tidewater to increase its equipment inventory and expand its fleet at an attractive price during a period of depressed conditions in the domestic offshore marine industry. "Tidewater's primary commitment to its vessel charterers is to offer the most modern and versatile fleet serving the offshore oil and gas industry," Mr. Allgood said.
Four of the new vessels will be 192-foot-long towing-supply vessels that develop 4,600 continuous horsepower in twin engines and a speed of 13 knots.
The remaining units are 180-footlong supply vessels with 2,250 continuous horsepower in twin engines and a speed of 12 knots.
All 11 vessels will have a minimum of 4,000 cubic feet of bulk capacity and each vessel also has liquid mud capacity.
The new vessels will make a total of 375 vessels in worldwide service for Tidewater Marine.
Mr. Allgood added that the company currently has 18 other vessels under construction at a cost of about $82 million. Ten of these vessels will be delivered during the company's fiscal year which ends March 31, 1983, and the balance in fiscal year 1984.
An additional 15 replacement vessels also are currently planned for delivery in fiscal years 1985, 1986 and 1987, he said.
In addition to its marine fleet, Tidewater is active in the air and natural gas compression business, including the construction and operation of compressor stations and natural gas plants, and also in oil and gas exploration and production. The company also maintains interests in the real estate and insurance businesses.
Other stories from January 15, 1983 issue
- Aalborg Vaerft Conducts Tank Tests Of New Cruise Liner Model page: 6
- Thomas Marine Delivers Two 38-Foot Police Patrol Boats page: 8
- Todd Pacific Delivers Guided Missile Frigate Reid To The U.S. Navy page: 8
- Kone And Far East-Levingston In Joint Venture For Crane Manufacturing In Singapore page: 10
- CSSRA Urges Adoption Of Canadian Building Policy page: 10
- Leevac Corporation Names Terry Hardouin Planning Manager page: 10
- Tidewater Marine Buys T1 Vessels From Halter Marine For $33 Million page: 11
- A.S.N.E. PUTTING FIRE POWER TO SEA page: 12
- Elliott Awarded Additional Contract For Thruster Unit page: 15
- Roger Ffooks Appointed European Representative For J.J. Henry Firm page: 15
- Battleship New Jersey Is Recommissioned page: 16
- Norshipco's Floating Drydock Titan' Aids In Tunnel Construction Project page: 16
- Aeroquip Names Manager, Contract Administration, For M a r i n e / M i l i t a r y Products page: 17
- Two Ro/Ro's For Saudi Arabia Dedicated At Kockums, Four-Ship Order Valued At $250 Million page: 17
- Navy Civil Engineering Lab Completes Studies On Future Pier Designs page: 18
- New Marine Insurance Brochure Available From Skuld In Norway page: 18
- Dravo Appoints Three Senior Officials In Its Marine Construction Organization page: 19
- $32.6-Million Title XI Sought For Purchase And Rebuilding Of RO/RO page: 19
- SKF Couplings Described In Free 26-Page Full-Color Brochure page: 19
- Joseph Farrell Selected As New AWO President page: 20
- Navy Awards $1.87-Million Crane Contract To Clyde page: 20
- Ship Model Basin Dedicated At N.Y. State Maritime College page: 20
- New Ferry Contract For Over $1-Million Awarded To Offshore Shipbuilding page: 21
- Lykes Ship Sends Data By Satellite-Phone Hookup page: 21
- Oceans '83 Conference Issues Call For Papers page: 21
- Nichols Brothers Yard Starts Work On 265-Foot Split-Hull Hopper Dredge page: 21
- Ehrenfried Of Metritape Presents Paper At SNAME New England Meeting page: 21
- MAN-B&W Diesel Holds Symposium For West Coast Marine Industry Leaders page: 22
- Bruce D. Smith Elected President Of COMSAT Technology Products page: 22
- MacGregor To Equip 30 Barges, 3 Ships Building In Japan For Paraguay page: 22
- Barber President Named Commissioner Of Pilots page: 35
- Bates To Retire As ACL Chairman At End Of '83, —Koch Named Successor page: 35
- $ 5 . 4 - M i l l i o n Navy Contract A w a r d e d Tracor For SSBN Sonar Systems Services page: 36
- Romanelli Joins Fairhaven M a r i n e As Vice President page: 36
- Kelly Named Vice President Of Lykes Pacific Division page: 37
- M a r A d Offers Report On Shipboard Fuel Handling And Conditioning page: 37
- New 15-100 H.P. Barge Spotters Described In Free Literature page: 37
- Lockheed To Build Prototype Vehicles To*' Destroy Naval Mines page: 38
- Coast Guard Publishes Revised Navigation Rules page: 39
- Johnson & Towers Named Alco Diesel Distributor —Literature Offered page: 39
- ASNE Southern New England Discusses Sub Combat Systems page: 41
- MarAd Approves Crowley Acquisition Of Delta Steamship Stock For $96 Million page: 42
- LTI Introduces New System For M o v i n g Ship Sections —Literature A v a i l a b le page: 43
- SNAME-Philadelphia Section Hears Paper On Marine Epoxy Resin Chocks page: 44
- Trellclean Conducts Technical Briefing And Hull-Cleaning Demonstration page: 44
- Uniflite Announces Three Executive Appointments page: 45
- Deep-Notch Tug And Barge Delivered To Energy Transportation page: 45
- Jackup Rig "Sam Noble" Is Christened At Levingston page: 46
- New USCG Pollution Prevention Requirements Effective October 2 page: 46
- Stone Manganese Offers Technical Reports On Fuel Economy And Propellers page: 48
- Burton Delivers 224-Foot Seiner, Sixth Of Seven Foir Van Camp page: 48
- Pan-American Naval Engineers To Hold 1983 Meeting in D.C. page: 48
- Paceco Delivers Railmounted Transtainer Crane To U.S. Army page: 53
- Hoffert Manufacturing Awards Caribbean Cruise At SNAME Exposition page: 58
- Nome Seeks $38.5-Million For Proposed Year-Round Port page: 58
- Bay Shipbuilding Retains W i l l i am Thompson As Washington Representative page: 59
- Bulk Carrier Karnataka Undergoes Repairs, Modernization At HUD page: 59
- Dravo Launches Coastal Hopper Barge For C.G. Willis page: 59