Harvey Gulf: Long-term thinkers

In an interview three years ago, Harvey Gulf has said it was committed to a long term policy it claims would sustain the firm in the best, and worst, of times. Owner Shane Guidry was asked in 2016 how hat panned out. As it turns out, Harvey Gulf has seen its share of the pain plaguing the entire sector. With its headcount down some 500 personnel, Harvey Gulf’s fleet of 59 vessels still has 34 on the water. True to its formula, 26 of the 34 are operating on time charters. That’s the way it will stay, he said. “We’re long-term thinkers and fortunately we don’t live for today and we don’t live to sell stock.” Last quarter, its EBITDA was more than Seacor, Tidewater, GulfMark, and Hornbeck combined. Returns were over 60 percent. That’s from understanding clients’ needs, and “getting down in the weeds” with crew members, and working with them to “understand what’s coming next, how we all survive together, in your personal lives and in the business,” insists Guidry. He is projecting the firm’s EBITDA will be over $160 million this year. Facing a much different landscape, he maintains that, aside from the necessary belt tightening, little has changed in terms of how the firm operates. Pressed to explain, Guidry responded: “You have to decide: do you want to live for today or tomorrow?” (Source: Marine Link 12/06/16) Gulf Coast Note: Harvey Gulf International Marine is a marine transportation company specializing in providing Offshore Supply and Multi-Purpose Support Vessels for deep water operations in the Gulf of Mexico. Its HQ is in New Orleans; and has an operations facility at Port Fourchon, La.