Adriatic Marine Buying Six OSVs (USA)

LA-based Adriatic Marine LLC has entered into a contract with Harvey Gladiator LLC, a wholly-owned subsidiary of Harvey Gulf International Marine LLC, for the purchase of six 205’ DP-1 Offshore Supply Vessels (OSVs).

The transaction is expected to close in the early fourth quarter of 2013.  The purchased vessels are a subset of a larger acquisition by Harvey Gulf of substantially all of the assets of Abdon Callais Offshore LLC.   With the acquisition of the six 205’ OSVs, Adriatic Marine will have a fleet of seventeen DP-1/DP-2 OSVs, ranging in length from 170’ to 205’ and having an average age of four years, making the fleet one of the newest and most sophisticated in the Gulf of Mexico.

Adriatic Marine also has five 200’ DP-2 OSVs and one 260’ DP-2 OSV on order, with all deliveries expected to be completed within two years.    Additionally, Adriatic Marine owns and operates a fleet of ABS-classed, ocean-going deck barges, the oldest of which was built in 2011.  Adriatic Marine has ordered two new 72’-wide barges and two new 100’-wide barges to add to its fleet, with deliveries commencing in October 2013.

Adriatic Marine is a marine transportation company providing offshore supply services in the Gulf of Mexico since 2007.

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September 22, 2013