Terrebonne Port Commission News

Gulf Island Fabrication, Inc. GIFI +1.89%announced, that through its subsidiary Gulf Island, LLC, it has signed contracts for the fabrication of three new projects totaling $125mn and approximately 1.2 million man-hours which will be included in the company's consolidated backlog when the company announces its earnings results for the second quarter ended June 30, 2011. The three contracts are for: -- A 320 feet long by 160 feet wide dry dock awarded by the Terrebonne Port Commission for the LaShip project. -- A 6,200 ton Process Module for ATP Oil & Gas Corporation's Cheviot project managed through Bluewater Industries. -- A 7,000 ton topsides for Williams Partners' proprietary floating-production system, Gulfstar FPS(TM).

According to a report from the Daily Comet, the Terrebonne Port Commission’s application for $10m in hurricane-recovery money had been approved by the state. The money, designated by the state to support economic development in the wake of hurricanes Gustav and Ike, will build a large public dry dock that will be leased by the Edison Chouest Offshore project and used to launch large boats, such as the $150m Arctic service vessel the Galliano-based company currently has under construction. (Source: Daily Comet)