UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549




                                    FORM 8-K


                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


         Date of Report (Date of earliest event reported): January 22, 2001


                            HVIDE MARINE INCORPORATED
                 (Exact name of registrant as specified in its charter)

       Delaware                            0-28732              65-0966399
(State or other jurisdiction            (Commission           (IRS Employer
      of incorporation)                 File Number)        Identification No.)

         2200 Eller Drive, P.O. Box 13038, Ft. Lauderdale, Florida 33316
               (Address of principal executive offices) (Zip code)

        Registrant's telephone number, including area code (954) 524-4200






Item 5.           Other Events

                  On  December  22,  2000,   Hvide  Marine   Incorporated   (the
"Company")  exercised an option to increase  from 75.75% to 100% its interest in
five  double-hulled  carriers  delivered  between the fourth quarter of 1998 and
mid-1999. The transaction was closed effective as of January 15, 2001.

The exercise price was approximately $11 million,  of which $523,544 was paid in
cash as of the  closing  date and the  balance of which is paid by a  promissory
note in the principal  amount of $10.5 million payable over five years in twenty
quarterly  installments of principal in the amount of $525,000 each plus accrued
interest. The note bears interest at the rate of 8.5% and is secured by a pledge
of certain securities owned by the Company.







                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report to be  signed on their  behalf by the
undersigned hereunto duly authorized.


                            HVIDE MARINE INCORPORATED



                            By:      /s/  ALAN R. TWAITS
                                 ---------------------------------------
                                     Alan R. Twaits
                                     Senior Vice President, General Counsel
                                        and Secretary