Discussing potential M&A activity in the offshore sector, VesselsValue’s Robert Day considered the options available for known consolidation-seeker Harvey Gulf International Marine
Harvey Gulf has made no secret that it wants to merge or go into business with others, VesselsValue offshore analyst Robert Day told delegates at this year’s Offshore Support Journal Conference & Awards.
If Harvey Gulf was to merge with Solstad Offshore, the new fleet would have the greatest fleet number-to-value ratio, he explained.
“However, if that was not the route that Harvey Gulf wanted to go down, they could actually look at merging with Bourbon [Offshore]. That would give them the overall highest number of vessels,” noted Mr Day.
But what would happen if Harvey Gulf were to merge with the new Tidewater-Gulfmark entity?
“I don’t think the world is truly quite ready for that, yet,” Mr Day added.