SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (date of earliest event reported): August 14, 1996
HVIDE MARINE INCORPORATED
(Exact name of registrant as specified in its charter)
FLORIDA 1-11863 65-0524593
(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
2200 ELLER DRIVE, P.O. BOX 13038
FORT LAUDERDALE, FLORIDA 33316
(Address of principal executive offices, including zip code)
(954)523-2200
(Registrant's telephone number, including area code)
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Item 2. Acquisition or Disposition of Assets
On August 14 and 15, 1996, the Company completed the acquisitions of (i)
three chemical carriers (the "OMI Chemical Carriers") and the 50% interest in
Ocean Specialty Tankers Corporation that it did not already own from OMI Corp.,
(ii) eight offshore supply boats (the "Seal Fleet Vessels") from Seal Fleet,
Inc. and certain partnerships, (iii) a 120-foot crew boat named the Carol from
Leppaluoto Offshore Marine, Inc., and (iv) two 175-foot offshore supply boats
from IMI Marine Operations, Inc. A copy of the Company's press release
announcing these acquisitions is filed as an exhibit to this Form 8-K.
Information regarding such acquisitions was previously reported by the Company
in its registration statement on Form S-1 (File No. 33-78166) and its related
prospectus dated August 8, 1996.
Item 7. Financial Statements and Exhibits
(a) and (b). Financial statements relating to the OMI Chemical Carriers and
the Seal Fleet Vessels and certain pro forma financial information relating to
the acquisitions described under Item 2 were previously reported in the
Company's registration statement on Form S-1 (File No. 33-78166) and its related
prospectus dated August 8, 1996.
(c). Exhibit 99 - Press Release
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HVIDE MARINE INCORPORATED
By: /S/ GENE DOUGLAS
Gene Douglas
Vice President-Legal
and General Counsel
Date: August 23, 1996
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EXHIBIT 99
Contact: Jack O'Connell (Hvide Marine), 954/524-4200, x224
Kevin Boyd (Ryan Stapleton Group), 954/761-3191
FOR IMMEDIATE RELEASE
HVDE MARINE COMPLETES ACQUISITIONS
Fort Lauderdale, Fl, August 15, 1996--Hvide Marine Incorporated today
announced the completion of its previously announced acquisitions of three
chemical carriers and 11 offshore energy support vessels. The acquisitions were
funded in part by the proceeds from Hvide's initial offering of 7,000,000 shares
of Class A common stock, which began trading last Friday.
The three chemical carriers--the OMI Hudson, Dynachem and Star, to be
renamed the HMI Petrochem, Dynachem and Astrachem--were purchased from OMI Corp.
and will join Hvide's two existing vessels, the Seabulk Magnachem and Seabulk
America, in the domestic chemical trade, where Hvide is the market leader. The
vessels are marketed through the Ocean Specialty Tankers Corporation (OSTC) of
Houston, now a 100%-owned Hvide subsidiary.
The 11 offshore energy support vessels include eight offshore supply
vessels from Seal Fleet, Inc. and related interests, two additional supply
vessels from IMI Marine Operations, Inc., and one crewboat from Leppaluoto
Offshore Marine, Inc. They will operate as part of Hvide's subsidiary, Seabulk
Offshore, Ltd, the third largest operator of offshore supply vessels and
crewboats in the Gulf of Mexico.
Hvide Marine (pronounced "VEE-dah") is a diversified marine
transportation services company providing benchmark quality service to its
customers based on innovative technology, the highest safety standards, modern
and efficient equipment, and dedicated, professional employees. Hvide's stock is
traded on the NASDAQ under symbol HMAR.
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