Marine Log - July 2008 - (Page G10) GULF COAST HEADLINER SHE’S A KNOCKOUT: Rigdon Marine’s Knockout makes a big splash at Bollinger Shipyards in Lockport, La. GULFMARK’S SPLASHY DEAL s the impending marriage between GulfMark Offshore, Houston, Tex., and Rigdon Marine, New Orleans, La., one made in heaven? The two operators’ portfolios seem to mesh well, with Rigdon Marine’s concentration in the Americas and GulfMark’s operations in Brazil, India, the Mediterranean, Mexico, North Sea, Southeast Asia and West Africa. Once the deal is sealed, the two companies will have a combined fleet of 90 vessels and another 16 vessels under construction (see accompanying table) for delivery up until 2010. The acquisition of Rigdon Marine would give GulfMark immediate access to the Jones Act, deepwater U.S. Gulf of Mexico market. GulfMark president and CEO Bruce I Streeter said the addition of Rigdon Marine would “complement and expand the strong asset base of GulfMark.” Continued Streeter, “In addition to the domestic U.S. vessel operations and customer base, we will add operations in Trinidad and a vessel working in support of seismic services worldwide. Our Americas operations will now encompass the U.S., Mexico, Trinidad and Brazil.” Under the terms of the deal, GulfMark will acquire 100% of the outstanding equity interest of Rigdon Marine and its holding company for a package of $150 million in cash, about 2.1 million shares of GulfMark common stock, plus assumption of some $268 million in debt and another $19 million in expenditures to complete the vessels under construction. GulfMark expects to finance the cash portion of the consideration with cash on hand and borrowings under its current $175 million revolver. The package is valued at about $550 million. Under the merger, GulfMark will also add Larry Rigdon to its board of directors. LAST OF TEN FROM BOLLINGER Overall, the combined companies are building 16 vessels, including six platform supply vessels, six anchor handling tug supply vessels and five fast supply/crew boats. One of those newbuilds, the platform supply vessel Knockout, will be delivered next month by http://www.eagle.org
Table of Contents Feed for the Digital Edition of Marine Log - July 2008 Marine Log - July 2008 Contents Editorial Second Thoughts Update Inside Washington Coastal Shipping Communications Paints & Coatings WISTA’s Jeanne Grasso Showcase Newsmakers Tech News Contracts Events Website Directory ML Buyer's Guide ML Marketplace Tech Talk Gulf Coast Headliner Marine Log - July 2008 Marine Log - July 2008 - (Page Intro) Marine Log - July 2008 - Marine Log - July 2008 (Page Cover1) Marine Log - July 2008 - Marine Log - July 2008 (Page Cover2) Marine Log - July 2008 - Marine Log - July 2008 (Page 1) Marine Log - July 2008 - Marine Log - July 2008 (Page 2) Marine Log - July 2008 - Contents (Page 3) Marine Log - July 2008 - Editorial (Page 4) Marine Log - July 2008 - Editorial (Page 5) Marine Log - July 2008 - Second Thoughts (Page 6) Marine Log - July 2008 - Second Thoughts (Page 7) Marine Log - July 2008 - Second Thoughts (Page 8) Marine Log - July 2008 - Update (Page 9) Marine Log - July 2008 - Update (Page 10) Marine Log - July 2008 - Update (Page 11) Marine Log - July 2008 - Inside Washington (Page 12) Marine Log - July 2008 - Coastal Shipping (Page 13) Marine Log - July 2008 - Coastal Shipping (Page 14) Marine Log - July 2008 - Coastal Shipping (Page 15) Marine Log - July 2008 - Coastal Shipping (Page 16) Marine Log - July 2008 - Coastal Shipping (Page 17) Marine Log - July 2008 - Coastal Shipping (Page 18) Marine Log - July 2008 - Communications (Page 19) Marine Log - July 2008 - Communications (Page 20) Marine Log - July 2008 - Communications (Page 21) Marine Log - July 2008 - Communications (Page 22) Marine Log - July 2008 - Paints & Coatings (Page 23) Marine Log - July 2008 - WISTA’s Jeanne Grasso (Page 24) Marine Log - July 2008 - Showcase (Page 25) Marine Log - July 2008 - Newsmakers (Page 26) Marine Log - July 2008 - Tech News (Page 27) Marine Log - July 2008 - Contracts (Page 28) Marine Log - July 2008 - Events (Page 29) Marine Log - July 2008 - Website Directory (Page 30) Marine Log - July 2008 - ML Buyer's Guide (Page 31) Marine Log - July 2008 - ML Marketplace (Page 32) Marine Log - July 2008 - ML Marketplace (Page 33) Marine Log - July 2008 - ML Marketplace (Page 34) Marine Log - July 2008 - ML Marketplace (Page 35) Marine Log - July 2008 - Tech Talk (Page 36) Marine Log - July 2008 - Tech Talk (Page Cover3) Marine Log - July 2008 - Tech Talk (Page Cover4) Marine Log - July 2008 - Gulf Coast Headliner (Page G1) Marine Log - July 2008 - Gulf Coast Headliner (Page G2) Marine Log - July 2008 - Gulf Coast Headliner (Page G3) Marine Log - July 2008 - Gulf Coast Headliner (Page G4) Marine Log - July 2008 - Gulf Coast Headliner (Page G5) Marine Log - July 2008 - Gulf Coast Headliner (Page G6) Marine Log - July 2008 - Gulf Coast Headliner (Page G7) Marine Log - July 2008 - Gulf Coast Headliner (Page G8) Marine Log - July 2008 - Gulf Coast Headliner (Page G9) Marine Log - July 2008 - Gulf Coast Headliner (Page G10) Marine Log - July 2008 - Gulf Coast Headliner (Page G11) Marine Log - July 2008 - Gulf Coast Headliner (Page G12) Marine Log - July 2008 - Gulf Coast Headliner (Page G13) Marine Log - July 2008 - Gulf Coast Headliner (Page G14) Marine Log - July 2008 - Gulf Coast Headliner (Page G15) Marine Log - July 2008 - Gulf Coast Headliner (Page G16) Marine Log - July 2008 - Gulf Coast Headliner (Page G17) Marine Log - July 2008 - Gulf Coast Headliner (Page G18) Marine Log - July 2008 - Gulf Coast Headliner (Page G19) Marine Log - July 2008 - Gulf Coast Headliner (Page G20) Marine Log - July 2008 - Gulf Coast Headliner (Page G21) Marine Log - July 2008 - Gulf Coast Headliner (Page G22) Marine Log - July 2008 - Gulf Coast Headliner (Page G23) Marine Log - July 2008 - Gulf Coast Headliner (Page G24) Marine Log - July 2008 - Gulf Coast Headliner (Page AdAlert)
For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.