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Hornbeck Offshore Services Inc. Jun 10 Product Image

Hornbeck Offshore Services Inc. Jun 10

  • Published: June 2010
  • Standard & Poors

Abstract
A young, technologically advanced offshore supply vessel (ODV) fleet; and Growing market, geographic, and business diversity. Limited, but improving, market diversity; Very cyclical pricing and utilization; and Weak market conditions for the marine transportation business. The ratings on Covington, La.-based Hornbeck Offshore Services Inc. reflect the risks posed by the company's niche position in the highly volatile offshore supply vessel (OSV) industry, aggressive growth strategy, and elevated debt leverage. The company's young, technically advanced OSV fleet, growing geographic and business diversification, and historically better-than-average performance of its deepwater market somewhat buffer the above risks. Standard & Poor's Ratings Services believes that the current six-month moratorium on deepwater drilling in the U.S. Gulf of Mexico will adversely affect utilization and dayrates...

Companies mentioned in this report are: Hornbeck Offshore Services Inc.
Action: Review

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Hornbeck Offshore Services Inc.

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