Another one bites the Dust

With yet another acquisition announced a few weeks ago, the Harvey Gulf Fleet grew a little more. Abdon Callais the largest 100 ton boat company on the bayou, with the largest 100 ton boats you really can build, sold its entire fleet and operations to HGIM. HGIM announced they planned to keep and stretch the DP-2 vessels and sell off the DP-1 vessels of the fleet, six of those already having been sold to Adriatic Marine. While press releases are one thing, paint on the boats is the cold hard truth. As seen below with the Harvey Wave.



With rumors of the expansion of HGIM funded by everyone from the mob, the “unions”, to space aliens. I will be sticking to my guns that it is primarily money from an investment firm, as of yet anonymous, and they are working to quickly increase market share in hopes of going public. With the current industry boom it’s a bet that could very well pay off, however a hiccup in drilling could make the over 1 billion dollars in debt a very big monkey on HGIM’s back.

About newenglandwaterman

1600 Master Near Coastal, Master of Towing Vessels, and a whole binder full of other pieces of paper. You can find me at the controls, hooked up and hard over, when I'm not at home playing with the dogs
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