Gulfmark Americas News

BAE Systems continues to support the offshore energy market as it expands new construction efforts and maintenance, repair, overhaul and conversion operations at its shipyards in Mobile, Ala., and Jacksonville, Fla. Earlier this year, BAE Systems began construction on the first of two platform supply vessels for GulfMark Americas, Inc. The 300-Class DP2 vessels are designed by MMC Ship Design and Marine Consulting, Ltd. of Poland and will be based on similar platform supply vessels currently under construction for GulfMark abroad. The green vessels will be U.S.

BAE Systems’ shipyard in Alabama has begun construction on the first of two platform supply vessels (PSVs) for GulfMark Americas, Inc. Executives and employees from both companies gathered recently at the BAE Systems’ facility in Mobile to oversee the initial cutting of steel for the vessel’s first module, which is expected to be delivered in the second half of 2014. The BAE Systems-built 300-Class Green DP2 vessels are designed by MMC Ship Design & Marine Consulting, Ltd. of Poland and will be based on similar PSVs currently under construction for GulfMark abroad. The new vessels will be U.S. flagged and will support the anticipated future demand in the Gulf of Mexico offshore market, as well as other areas around the world.

BAE Systems has completed another milestone in the construction of the first of two dump scows for Great Lakes Dredge & Dock Company. When complete, both vessels will be used to support dredging operations in the United States. Employees and executives from both companies recently gathered at the foot of the 98 ton keel block as Steve Becker, vice president of Great Lakes Dredge & Dock, drove the ceremonial wedge and welded his initials in the keel of the first vessel, Hull 107.

BAE Systems has begun construction on the first of two dump scows for Great Lakes Dredge & Dock Company. Employees and executives from both companies gathered yesterday for a ceremony to mark the start of construction for the first module, which will weigh approximately 87 tons. When complete, the entire first vessel will weigh about 1,600 tons and measure 295 feet long and 62 feet wide, with a draft of 17 feet. The second vessel, which is scheduled to start in January, will be of the same dimensions and capacity. Both 7,500-cubic-yard, split bottom dump scows will be used to support U.S.

Offshore vessels in the Gulf of Mexico have become more energy efficient in recent years and are polluting less because of changes in engines, bunker fuels and building materials. At the same time, Gulf of Mexico builders have responded to meet new regulations, customer needs. At Harvey Gulf International Marine in New Orleans, Environmental Compliance Coordinator Nicole Eddlemon said “adoption of energy-saving vessels in the U.S. is driven by North American Emission Control Area or ECA regulations, initiated by the Obama Administration and the U.S.

BAE Systems' Alabama Shipyard contracted to build Platform Supply Vessels for GulfMark Americas. GulfMark Americas, Inc. has selected BAE Systems’ shipyard in Mobile, Alabama to build two new platform supply vessels that will serve offshore drilling operations. The contract reflects continued growth in U.S. commercial shipbuilding for BAE Systems and a major step forward in the company’s support to the oil and gas industry. Each of the GulfMark vessels will be qualified under the U.S. Jones Act and will measure 288 feet long and 62 feet wide. The selection also includes options to build two additional platform supply vessels in the future. The design for the BAE Systems-built Green DP2 vessels will be provided by MMC Ship Design & Marine Consulting, Ltd.

GulfMark Offshore, Inc. (NYSE:GLF) announced results of operations for the three months ended March 31, 2009. Net income for the first quarter of 2009 was $14.2 million, or $0.56 per diluted share. Excluding special items, which net to $0.76 per diluted share and which are detailed further below, earnings per share for the first quarter of 2009 was $1.32 per diluted share. Revenue for the first quarter of 2009 was $108.8 million, an increase of 30.5% over the same period in the prior year. Operating income, excluding special items, was $43.2 million in the first quarter of 2009, an increase of 25% over the same period in 2008. GulfMark Americas, which was acquired on July 1, 2008, contributed revenue of $36.3 million during the first quarter and operating income of $15 million.