rss icon Subscribe
desktop mobile

Gulfmark Must Choose: Size or Specialty

(Source: VesselsValue)

MarineLink

Coming hot off the heels of July's announcement of a merger deal between offshore services firms Tidewater and Gulfmark, rival Harvey Gulf offered its $836 million fleet in a competing deal to merge with Gulfmark.

Now Gulfmark is left to weigh its options.

"With a combined fleet size of 274 vessels, a merger between GulfMark and Tidewater would lead to one of the largest OSV fleets in terms of overall size with an average age 10.7 years old," said Matthew Freeman, VesselsValue Director. "If a merger would materialize between Harvey Gulf and GulfMark, it would mean a smaller overall fleet size of 129 vessels but with an average age of 9.2 years old."

"The Harvey Gulf fleet consists of 57 OSVs and six OCVs (a sector that GulfMark does not currently have a presence in), so the main questions here are size over specialty and what the future holds," Freeman said.

Tidewater, Harvey Gulf and GulfMark Fleets
Owner Number of Vessels Average Age Total Market Value
Tidewater Marine 208 10.2 $1.058 billion
Harvey Gulf Marine 63 7.2 $836 million
GulfMark Offshore 66 11.2 $342 million
Owner Number of Vessels
Average Age Total Market Value
Tidewater and GulfMark 274 10.7 $1.4 billion
Harvey Gulf and GulfMark 129 9.2 $1.179 billion

Aug 7, 2018

 

Mergers & Acquisitions

ZEABORN Combines E.R. Schiffahrt and Rickmers

web PANO_20161021_090250_2.jpg

The ZEABORN Group announced it has combined its two recently acquired Hamburg-based ship

Unifeeder Becomes Part of the DP World

Unifeeder vessel Vera Rambow in Rotterdam. Photo: Unifeeder

Following last week annoucement of acquisition, Unifeeder Group has announced the signing of the

Euronav Updates on Gener8 Merger

Image: Euronav

The acquisition of Gener8 resulted in the recognition of a gain on bargain purchase on business

Finance

Top U.S. Trade Official Sees NAFTA 'breakthrough' in Days

File Image: CREDIT Port of Boston

U.S. Trade Representative Robert Lighthizer on Thursday said he hopes there will be a breakthrough

Blockchain Benefits Still Murky for Most Commodities Trading

© Riza / Adobe Stock

Commodity firms and banks have been diving into blockchain pilot schemes over the last two years

New Fuel Rules Push Shipowners to Go Green with LNG

El Coquí, one of the world’s first ConRos powered by LNG (Photo: Crowley)

Tough new rules on marine fuel are forcing shipowners to explore liquefied natural gas as a

Maritime Apps