Harvey Gulf is placing a bet on the cruise sector's future use of LNG while looking to expand into international markets.
The US privately owned company's Quality Liquefied Natural Gas Transport signed a letter of intent with VT Halter Marine to build an 8,000-cbm bunkering vessel on speculation for passengerships.
"With the past and recent announcements by major cruise lines to build and deliver LNG-powered cruiseships in the US market, Q-LNG is committed to deliver the safest, most cost-effective solution to the cruise line industry," chief executive Shane Guidry said.
Harvey Gulf Marine International in November announced forming Q-LNG, 70% owned by Guidry and the rest owned by Harvey Gulf.
Q-LNG is contracted with VT Halter to build America's first offshore LNG articulated tug and barge (ATB) designed to carry 4,000 cbm of LNG.
The barge will 324 feet by 64 feet by 33 feet while the tug will be 128 feet long.
They will both meet US-flag, ASB Class and International Gas Code requirements, Q-LNG said.
"The new 8,000 cbm design captures all lessons and efficiencies learned from the first ATB," he said.
"Thus, Q-LNG will be able to deliver the follow-on design in a shorter period of time at a highly competitive price."
Guidry told TradeWinds that the market can’t handle more than two until 2023.
"We will add third in 2023 but are ready to advance the third one if the need arises," he said.
The cruise industry plans to add 23 LNG-powered vessels over the next six years.
Harvey looks to grow south of the border and elsewhere
Harvey Gulf also plans to expand its global footprint through opening more locations in South America and chasing mergers and acquisitions.
The New Orleans-based company said it will reflag its offshore supply and fast supply vessels to facilitate work in Mexico while opening offices in Mexico, Trinidad and Guyana through affiliate Harvey International Marine de Mexico.
"We’re also discussing several potential mergers and acquisitions that will give our company a larger global footprint to install our safety and operations culture, which has been unmatched for five years," Guidry said.
In the last five years, Harvey Gulf has operated in the US for more than 100 customers, in Mexico for Baker Hughes, Nalco, Halliburton and Schlumberger and in Israel for Noble Energy.
It has also had business in Kenya and Mozambique Africa for Anadarko, in Trinidad and Suriname for Shell, in Malaysia for Petronas, and the North Slope of Alaska for Shell, he said.
