JUNE 2021
U.S. Coast Guard photo by Petty Officer 2nd Class Brendan Freeman
NEWS LOG
NEWS BITTS
Deadly liftboat accident in the Gulf of Mexico
Divers transport hose to the Seacor Power fuel tank to start removing fuel.
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n April 13, 19 people aboard the 265-class liftboat Seacor Power left Port Fourchon, La., heading for a Talos Energy shallow water platform. They didn’t make it. A small but intense low-pressure system, known to meteorologists as a wake low, passed through the area, creating hurricane-force winds of 8090 mph and seas offshore of 7' to 9'. Though bad weather had been forecasted, the intensity of the storm took everyone by surprise, Seacor Power capsized in heavy weather about eight miles off the Louisiana coast. As WorkBoat went to press, of the 19 people onboard the liftboat that left Port Fourchon, six are dead, six have been rescued, and seven are still missing. On May 3, salvage crews started removing fuel from Seacor Power’s fuel tanks, approximately eight miles off Port Fourchon. The liftboat is owned by Seacor Marine. Salvage crews are using a method called hot tapping, which allows for drilling into the fuel tanks and making a hose connection without ruining the integrity of the tank or causing pollution impacts. Divers are performing this process above and below the water, connected to an air hose. Weather is key to a safe evolution, and if weather conditions exceed approximately 15-mph winds, four-foot seas, and the current is faster than 1.25 mph, work ceases until there are safer conditions. 18
NAVAL ARCHITECTURE FIRM PURCHASED
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ouston-based S&B Infrastructure Ltd. has acquired Technology Associates Inc. (TAI). New Orleansbased TAI is known for its innovative maritime solutions and technical expertise, company officials said. TAI will continue its operations as TAI Engineers LLC. The acquisition allows S&B to also position itself as a leading government and commercial engineer of world-class vessels, S&B officials said.
Seacor Power is a three-legged liftboat with a 49'×29'×5' working pad. It has a cargo deck capacity of 491 LT and a clear area of 11,000 sq. ft. It is outfitted with two cranes, port and starboard, each 185-ton capacity with 120' boom. — Ken Hocke
Gulf Island Shipyards sold to Bollinger for $28.6 million
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TIDEWATER MISSES ON FIRST-QUARTER REVENUES
n April, Houston-based Gulf Island Fabrication Inc. announced the sale of assets and certain vessel construction contracts of its shipyard division to Bollinger Shipyards LLC for approximately $28.6 million. The sale includes Gulf Island’s shipyard division property and assets in Houma, La., (Gulf Island Shipyards), including all four of the division’s drydocks — a 15,000-short-ton drydock, a 4,000-short-ton drydock, a 3,000-shortton drydock and a 1,500-short-ton drydock. In addition, the transaction includes the long-term contracts and all related obligations for the construction of three research vessels for Oregon State University and five towing, salvage and rescue ships (T-ATS) for the U.S. Navy. Bollinger has agreed to provide employment to most of the shipyard division’s employees associated with the acquired contracts. Gulf Island said the sale will transform the company into a more focused, specialty fabrication business, positioning it for profitable growth in existing and new higher-margin markets. The deal also removes future risks associated with existing, long-term contracts that represent more than 90% of the company’s current backlog that extends through 2024. The transaction will also strengthen liquidity.
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idewater Inc., Houston, announced in May first-quarter revenue of $83.5 million compared with $116.4 million for the three months ending March 31, 2020. Revenue missed analysts’ consensus estimate by $5.5 million. Tidewater’s net losses for the three months ending March 31, 2021, were $35.3 million, or 87 cents a share, compared with $18.4 million, or 46 cents a share, for the three months ending March 31, 2020. Included in the net losses for the first quarter were severance expenses of $100,000.
CORRECTION
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n WorkBoat’s April 2021 edition, David LeBlanc was listed in the Outboard Directory as the director of sales and product development for Cox Powertrain Ltd. LeBlanc’s correct title is regional sales director for Diesel Outboards, an Oxe distributor in the U.S.
Go to workboat.com/news for the latest commercial marine industry news.
Net cash proceeds from the sale are anticipated to be approximately $15 million. The wind down of the shipyard division operations is expected to occur by mid-2022.
www.workboat.com • JUNE 2021 • WorkBoat
