New AHTS for GulfMark Offshore

The newbuilding, currently being built by Jaya Shipbuilding and Engineering at their Batam, Indonesia, yard near Singapore, is a 70 m, 5,500 BHP, approximately 70 tonne bollard pull, DP2 anchor handling towing supply vessel. The purchase price for this vessel is approximately $14.5 million, with delivery currently expected during the fourth quarter of 2006. GulfMark exercised its rights under the first right of refusal granted under the previous purchase contract and will be granted a first right of refusal on a further vessel.

Bruce Streeter, President and Chief Operating Officer of the Company, commented: “Recently we announced a six vessel construction program targeted to meet a wide range of developing demand and customer requirements. This vessel compliments and is an integral part of this building program. The acquisition provides a highly flexible vessel with a lengthened deck and DP- 2 class, which delivers ahead of the six larger vessels, but provides continuity in market availability and is the appropriate fit between our recently acquired smaller China newbuilds and the larger vessels coming from Singapore.

Including this vessel, the company currently has nine owned vessels under construction bringing the fleet of owned vessels to 57 in 2008 when the last vessel is delivered.