Hornbeck Offshore delays MPSV pair

Hornbeck Offshore delays MPSV pair

US offshore operator Hornbeck Offshore has reached an agreement with Eastern Shipbuilding to postpone the delivery of two MPSVs on order as part of its latest newbuild program.

Delivery will be delayed to the first and second quarters of 2018 without incurring any additional costs. Additionally, the payment terms for the remainder of the contract were adjusted to shift $43.3m of milestone draws from the remainder of 2016 and 2017 into 2018.

Hornbeck Offshore’s latest newbuild program saw them order a total of 24 vessels, with 20 now in service.

The company posted second quarter revenues of $53.7m, down 30% from the first quarter of 2016.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

Related Posts