Adriatic Marine acquires three OSVs

Adriatic Marine LLC has entered into a contract with C & E Boat Rental LLC to take over operations of one 220’ DP-2 and two 170’ DP-1 Offshore Supply Vessels.

Adriatic Marine will also take delivery of another 220’ DP-2 OSV presently under construction for C & E Boat Rental in Bayou La Batre, Alabama with an expected delivery date of September 2014. This transaction is scheduled to close in the next 30 days.

With the addition of the 220’ OSV and the two 170’ OSVs, Adriatic Marine will have a fleet of 21 DP-1/DP-2 OSVs, ranging in length from 170’ to 220’ and having an average age of four years, making its fleet one of the newest and most sophisticated in the Gulf of Mexico. Adriatic Marine also has three 200’ DP-2 OSVs with methanol capabilities, seven 220’ DP-2 OSVs and two 260’ DP-2 OSVs on order, with deliveries commencing in July 2014. Upon taking delivery of all vessels presently under contract, Adriatic Marine’s fleet will expand to 33 OSVs.

Additionally, Adriatic Marine owns and operates a fleet of ABS-classed, oceangoing deck barges, all of which were built within the last three years. Adriatic Marine has ordered two additional 100’ x 260’ x 16’ deck barges and two 72’ x 260’ x 16’ deck barges to add to its fleet, with deliveries commencing in October 2014.

Press Release, April 29, 2014

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