Harvey Gulf to enter international markets
Harvey Gulf International Marine says that they have been able to achieve success in the turbulent offshore market by constantly reinvented itself to fit the industry demands.
“We are extremely happy with our recent execution in Nigeria, Guyana, Suriname, Mexico and Trinidad while continuing to pursue and acquire work domestically in California, which is like its own country. This was done in conjunction with maintaining our presence and exceptional service and safety record in the U.S. Gulf of Mexico. In 2019, Harvey Gulf made a commitment to its customers and partners to go global, and we executed successfully with profitable results and incident-free operations. Harvey Gulf did not wait for the market to turn and simply curb losses in a domestic downturn but rather looked to global markets to grow and expand the company for the future. A proactive business plan produced positive earnings before interest, taxes, depreciation and amortization (EBITDA) while many of our competitors were barely breaking even or having negative EBITDA quarter over quarter,” says CEO Shane Guidry.
The global expansion has benefited the bottom line for Harvey Gulf over the past year, with the company deploying nearly 25% of its active vessels into the global market. Even despite the recent expansion, Guidry believes there is further global expansion in 2020 and beyond.
Maritime Business World