John R. Snyder Publisher & Editor Editorial
August 2000 Vol 105 No 8
New players and new ethusiasm for the new year
here are we going? That’s a pretty common question most people ask themselves when faced with the prospect of a new year. It was also a question that commonly popped up earlier this month at the International Workboat Show. The talk among most of the exhibitors—there were more than 1,000—was of “cautious optimism.” Many of the second-tier shipyards that were on hand talked about strong backlogs for 2013 and naval architects, such as Mike Carroll of STX Marine, could hardly contain their enthusiasm for the new projects they were working on. However, Carroll had to keep his enthusiasm at bay since he was under a “gag order” from his client. STX Marine, of course, already has plenty to talk about, including another dual fuel Platform Supply Vessel Blenkey for Harvey Gulf International Marine—the fifth— Nicholas ordered from TY Offshore, Pascagoula, MS. Editor NEW PLAYERS Clearly, deepwater and subsea work is driving business and it’s drawing new players to the market. One is Wes Bordelon, owner of Bordelon Marine, Lockport, LA, who talked about the addition of three DP2 Stingray 260 Class PSVs to his fleet. The boats are under construction at Bordelon’s own shipyard in Houma and are the company’s biggest vessels yet at 260 ft x 52 ft, with a clear deck area of 188 ft x 44 ft and liquid mud capacity of 9,600 bbl. It’s a big step up for Bordelon, which currently operates a fleet of 110 ft to 170 ft mini supply vessels and DP1 supply boats. The first of the class is due out in the first quarter of next year. You can read more about next year’s shipbuilding prospects for second-tier shipyards in “Shipyard Outlook” starting on page 22. Another new player is Lee Jackson, President and CEO of Jackson Offshore Operators, LLC, a minority owned business. I met Jackson at a breakfast hosted by Larry Rigdon at his beautiful New Orleans home on the final day of the Workboat show. The breakfast annually draws some of the heavy hitters from the Gulf and this year’s event was no exception. Rigdon is the entrepreneur’s entrepreneur. He was the Executive Vice President of Tidewater, Inc. until 2002, when he “retired.” Of course, he didn’t really retire when less than two months later, he started his own company, Rigdon Marine, which grew to operate a fleet of 20 diesel-electric PSVs and employ about 300 people. Rigdon worked with naval architect Guido Perla to introduce the GPA 654 PSV to the Gulf. When he sold Rigdon Marine to GulfMark Offshore in 2008 it had an enterprise value of $585 million. Now, Rigdon sits on the board of Terresolve Technologies, Inc., Cleveland, OH, a company that produces biodegradeable/ 2 MARINE LOG DECEMBER 2012
non-toxic hydraulic fluids, general purpose oils, greases, lubricants and engine oils. Jackson Offshore and Terresolve Technologies were the official sponsors of the breakfast. He’s also an advisor to Jackson. Right now, Jackson Offshore Operators LLC, owns two three-year-old high-speed crewboats, but is ready to move to the big time. It inked a deal with BAE Systems to build two Platform Supply Vessels, with options for two more. By the way, those new Jackson Offshore vessels are based on a Guido Perla Associates Inc.’s design. You can read more about the contract in this month’s Update section starting on page 6. At the breakfast, Jackson spoke enthusiastically about the new vessels, saying they would provide employment for 48 mariners and another 200 or so shipbuilders. Larry’s son Matt Rigdon is a Senior Vice President and a member of Jackson Offshore’s board. Matt worked at GulfMark Americas, Rigdon Marine and Bourbon Offshore. CLOSE TO THE EDGE One thing weighing on people’s minds is the so-called “fiscal cliff”—it’s the term used to describe when the terms of the Budget Control Act of 2011 kick in. If Congress does nothing (which they’ve been terribly good at doing for the last four years), when the clock strikes midnight on New Year’s Eve, it will mean the end of last year’s temporary payroll tax cuts, the end of certain tax breaks for business, the end of the Bush era tax cuts, higher taxes through the Alternative Minimum Tax and new taxes under the President’s healthcare plan. In other words, more taxes for everyone. On top of that, under the Budget Control Act, automatic spending cuts will go into effect across the board on over 1,000 government programs, including defense. The fear is that if we fall off the cliff, it could send the country right back into a recession. POST SANDY RESPONSE Also, this month, we cover some of the post-Sandy response by the maritime salvage sector, as well a new ferry service for Staten Island residents from New York Water Taxi. Salvors played a critical role in getting pumping capacity quickly to New York to dewater subway tunnels and commuter tunnels, as well as clearing the harbor of submerged containers containing both hazardous and non-hazardous materials.
Dec 2012 Marine Log Magazine