Hornbeck lands contracts to build supply vessels

PASCAGOULA — Hornbeck Offshore Services Inc. of Covington, La., has executed definitive contracts for the construction of 16 high-specification offshore supply vessels (OSV) in connection with its latest new-build construction program announced Nov. 7.

This is the company’s eighth new-build vessel program since its inception in 1997, and its fifth new-build program involving state-of-the-art, technologically advanced new generation OSVs.

Hornbeck has separately contracted with VT Halter Marine Inc. of Pascagoula and with Eastern Shipbuilding Group Inc. of Panama City, Fla., for the construction at each yard of eight 300 class vessels with options to build additional such vessels should future market conditions warrant.

Hornbeck’s first decision with respect to the exercise of options will need to be made in September 2012. Delivery dates for option vessels will be approximately 26 months following the option exercise.

The aggregate cost of the first sixteen vessels under this program is expected to be approximately $720 million, excluding construction period interest.

VT Halter Marine will construct the eight vessels based on the Super 320 design that it developed for Hornbeck. These DP2 OSVs are designed to have 6,200 long tons of deadweight capacity, 11,863 square feet of deck area and a fire-fighting class notation. The Super 320 design is based on a larger version of the HOS Coral, an existing 290 class DP-2 OSV, which the company has successfully operated since her delivery in early 2009.

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