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Harvey Gulf Secures PSV Extensions, Fuel Contract

(Photo: Harvey Gulf)

U.S. based offshore vessel owner Harvey Gulf International Marine announced Monday it has signed two 18-month contract extensions for two of its liquefied natural gas (LNG) powered platform supply vessels (PSV), Harvey Liberty and Harvey Freedom. The extensions will keep both vessels under charter well into 2022.

"Each vessel will produce EBDITA returns on a annual basis north of 50% to the company," Harvey CEO, Shane Guidry told Marine Link.

Harvey also announced it signed a long term contract to supply diesel fuel to a super major for its new fuel dock in Port Fourchon, La.

Guidry, said, "At Harvey, we have a safety record that no boat company can match. We have a 99.2%operational success rate annually. That's an average of only 2.92 days of annual unplanned repairs. No other company even comes close to these results. And we do this year over year. Our LNG vessels DP on location longer than our peers during critical times, such as high currents and heavy seas. They're also the most fuel efficient and fastest PSVs. So, when you add all this up, they are still the most sought after vessels in the world. We are very thankful to our client for these contract extensions.

"I'm also looking forward to becoming America's and Port Fourchon's only facility selling both LNG, and diesel fuel for marine use. We want to thank the clients that have already committed to purchasing fuel from us. We will deliver fuel in the specifications requested, at a cheaper price, and are set up to take fuel back from our term customers.

Today, Harvey operates in seven countries, and the company is looking to continue this growth and actively seeking opportunities for mergers and acquisitions.

May 11, 2020

 

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