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Non-Tech : Hvide Marine HMAR - High Growth, Undervalued

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To: Douglas A. Sevy who wrote (76)12/3/1997 7:29:00 PM
From: bocaburgerman  Read Replies (1) of 547
 
Hi Everyone,
A tidbit I found. Looking forward to more good news.

Hvide Marine To Christen First Ship Docking Module(TM)

PR Newswire, Wednesday, December 03, 1997 at 17:53

FORT LAUDERDALE, Fla., Dec. 3 /PRNewswire/ -- Hvide Marine Incorporated
(NASDAQ:HMAR) will christen the first of its revolutionary Ship Docking
Module(TM) tractor tugs, the SDM(TM) New River, on Thursday, December 4 at
Port Everglades, Florida. The ceremony will take place at 11:30 a.m. at Berth
22 in Port Everglades. Emilie Shaw, the wife of Congressman E. Clay Shaw of
Fort Lauderdale, will be the vessel's sponsor.
Built by Halter Marine at a cost of approximately $4.75 million, the
SDM(TM) is the first major breakthrough in tugboat design in 100 years. It is
the first vessel of its kind that can generate 100% of its power in any
direction -- forward, backward or sideways -- making it exceptionally
maneuverable and ideally suited for docking ships in confined areas like Port
Everglades. Because of its rounded shape and 50-foot beam, the 4,000-
horsepower SDM(TM) has been likened to a "floating saucer." The SDM's(TM)
twin Z-drives are set fore and aft and offset from center. Capable of
rotating 360 degrees, they give the SDM(TM) its exceptional maneuverability
and power, which in turn makes for lower operating costs, since the SDM(TM)
only requires a two-person crew. The Z-drives on the New River are shielded
in specially designed "manatee guards" to protect against harming the gentle
sea cows which frequent the waters in and around Port Everglades on a seasonal
basis.
The New River is the first of three SDMs(TM) on order from Halter Marine.
Following her christening, she will be assigned to Hvide's Port Everglades
Towing division. The second and third SDMs(TM), due out in the first six
months of 1998, will likely be based in Mobile Bay, Alabama and/or Tampa,
Florida, where Hvide has its Mobile Bay Towing and Tampa Bay Towing divisions.
The vessels are named after rivers in Florida and are meant to remind boaters
of the environmental importance of these precious natural resources.
Video footage of the New River is available from Medialink (972-774-0200)
and can be accessed from 1:30 pm - 1:45 pm EST on Thursday, December 4. The
satellite coordinates are: C-Band, Galaxy 9, Transponder 1, Audio at 6.2 and
6.8 Mhz.
Based in Port Everglades, Florida, Hvide Marine currently operates a fleet
of 217 vessels in two core businesses:

-- Marine Support Services (186 vessels), primarily in the offshore energy
industry, in which Hvide's Seabulk Offshore, Ltd. subsidiary is the third
largest operator of supply and crew boats in the Gulf of Mexico, and Seabulk
Offshore International is the largest independent operator in the Arabian
Gulf; and offshore and harbor towing, which includes Tampa Bay Towing, Port
Everglades Towing, Mobile Bay Towing and Port Canaveral Towing; and

-- Marine Transportation Services (31 vessels), in which Hvide is a leader
in the domestic chemical transportation trade and has a significant position
in petroleum product transportation.

Hvide Marine (pronounced "VEE-dah") is an international marine support and
transportation services company providing benchmark quality service to its
customers based on innovative technology, the highest safety standards, modern
efficient equipment and dedicated, professional employees.

SPECIFICATIONS - SHIP DOCKING MODULE (SDM(TM))

Description: Twin Z-drive propulsion, diesel-powered, double-ended
tractor tug, outfitted for ship handling.

Length: 90'

Breadth: 50'

Design Draft: 16'

Gross Tonnage: Less than 200

Horsepower: 4,000

Engines: Twin Caterpillar 3516B diesels

Z-Drives: Ulstein Model 1650H fixed pitch with specially contoured
manatee guards

Winch: Markey Type DYSF-39 Hawser Hydraulic Winch with Spectra
tow line

Bollard Pull: 115,000 lbs. (estimated) in all directions

Firefighting: One 3,000 gpm firepump

Foam Tank
(firefighting): 1,235 gallons

Classification: ABS

SOURCE Hvide Marine Incorporated
-0- 12/3/97
/CONTACT: Jack O'Connell, Corporate Communications, Hvide Marine,
954-524-4200, x 224/
/Company News On-Call: prnewswire.com or fax,
800-758-5804, extension 114285/

Companies or Securities discussed in this article:
Symbol Name
NASDAQ:HMAR Hvide Marine Inc Cl A
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