Hornbeck snaps up Aries OSV quartet for $36.6m

Hornbeck snaps up Aries OSV quartet for $36.6m

US offshore vessel owner Hornbeck Offshore Services revealed in its latest set of results that it has entered into an agreement with compatriot Aries Marine Corporation to acquire four high-spec OSVs for $36.6m.

The vessels are 100% US-flagged and made up of a pair of 280 class OSVs, built in 2014 and 2015, and a pair of 300 class OSVs, built in 2010 and 2011.

Hornbeck, which posted a net loss of $38.7m for the first quarter, is funding the acquisition with cash on hand and expects to close the deal by the end of next month.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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