- -------
FORM 4
- -------
STATEMENT OF CHANGES OF BENEFICIAL OWNERSHIP
- --------------------------------------------------------------------------------
1. Name and Address of Reporting Person
Lee, John J.
c/o The Clipper Group
650 Madison Avenue, 9th Floor
New York, New York 10022
- --------------------------------------------------------------------------------
2. Issuer Name and Ticker or Trading Symbol
Hvide Marine Incorporated (HMAR)
- --------------------------------------------------------------------------------
3. IRS or Social Security Number of Reporting Person (Voluntary)
- --------------------------------------------------------------------------------
4. Statement for Month/Year - August 1998
- --------------------------------------------------------------------------------
5. If Amendment, Date of Original (Month/Day/Year)
- --------------------------------------------------------------------------------
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
1. Director
- --------------------------------------------------------------------------------
7. Individual or Joint/Group Filing -- Form filed by One Reporting Person
- --------------------------------------------------------------------------------
TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- --------------------------------------------------------------------------------
1. Title of Security -
CLASS A COMMON STOCK
- --------------------------------------------------------------------------------
2-4 Transaction Date Transaction Securities Acquired (A)
(Month/Day/Year) Code Vol Amount Price (per share)
8/25/98 A V 341 (A) 11.00
- --------------------------------------------------------------------------------
5-7. Amount of Securities Ownership Form: Nature of Indirect
Beneficially Owned at Direct (D) or Beneficial Ownership
End of Month. Indirect (I)
2,914 (D)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. Title of Derivative Security
- --------------------------------------------------------------------------------
2. Conversion or Exercise Price of Derivative Security
- --------------------------------------------------------------------------------
3-5 Transaction Date Transaction Number of Derivative
(Month/Day/Year) Code Vol Securities Acquired
- --------------------------------------------------------------------------------
6. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable Expiration Date
- --------------------------------------------------------------------------------
7. Title and Amount of Underlying Securities
Title Amount or Number of Shares
- --------------------------------------------------------------------------------
8. Price of Derivative Security
- --------------------------------------------------------------------------------
9-11. Amount of Derivative Ownership Form: Nature of Indirect
Securities Beneficially Direct (D) or Beneficial Ownership
Owned at End of Month. Indirect (I)
- --------------------------------------------------------------------------------
Explanation of Responses:
SIGNATURE OF REPORTING PERSON
/s/ JOHN J. LEE
John J. Lee
September 3, 1998
Date
