A Hornbeck Offshore Services subsidiary has made $8.4m on a US government contract, with the ability to make more than $30m more.
The US Navy’s Military Sealift Command exercised an option on the 5,400-dwt offshore supply vessel HOS Red Rock (built 2013) for one year for worldwide work supporting Navy operations.
According to the US Department of Defense, the deal with Hornbeck Offshore Operators includes three one-year extensions and one 11-month option.
If all are exercised it would bring the total contract to $39.5m.
“Work will be performed worldwide and is expected to be completed, if all options are exercised, by February 28, 2026,” the Department of Defense said.
Hornbeck Offshore Services was one of five bidders on the contract.
The company, now traded over-the-counter following a 2020 bankruptcy filing that saw it taken off the New York Stock Exchange, has maintained a low profile following its 2021 restructuring.
But it has crept up the offshore fleet league tables, adding three offshore supply vessels (OSVs) at a Maritime Administration auction in 2021, before adding another 10 high-specification OSVs from Edison Chouest Offshore last January.
The company added another six OSVs from Edison Chouest last month. The company said it intends to take delivery of the ships over the next 12 to 15 months.
Chief executive Todd Hornbeck said the move “continues our growth strategy for the benefit of our employees, oilfield and non-oilfield customers and other constituents”.
The moves made Hornbeck Offshore Services the second biggest owner of offshore PSVs behind New York-listed Tidewater.
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