Hornbeck Offshore stalls MPSV duo delivery

By Vessels

U.S.-based offshore vessel operator Hornbeck Offshore has made an agreement with a shipyard to postpone the delivery of two multi-purpose supply vessels (MPSVs).

Hornbeck postponed the delivery of the final two 400 class MPSVs, that are being built at Eastern Shipbuilding, for the first and second quarters of 2018 without any additional cost to the company.

Hornbeck Offshore stalls MPSV duo delivery

400ES Class MPSV - Image courtesy: Hornbeck

The vessels were ordered under the company’s fifth newbuild program involving new generation OSVs. In February 2016, Hornbeck upgraded two out of four remaining 310 class MPSV newbuilds to 400 class.

In addition, the payment terms for the remainder of the contract were adjusted to shift $43.3 million of construction milestone draws from the remainder of 2016 and 2017 into 2018.

The company’s fifth OSV newbuild program consists of 24 vessels; four 300 class OSVs, five 310 class OSVs, ten 320 class OSVs, three 310 class MPSVs and two 400 class MPSVs.

As of August 3, 2016, the company has placed 20 vessels in-service under this program. The remaining two 310 class MPSVs are set to be delivered in the third quarter of 2016.

Source: Offshore Energy Today