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14AHistoryofGulfMarkOffshoremodernizationandfocusingoninternationalmarkets.Thisstrategyhaspermittedyourcompanytogrowandoperateprotablywhenmostoilservicecompaniesareexperiencingoperatinglossesandareshrinkingtheircorebusiness.Thenumberofdomesticcompaniesandthenumberofpeopleinvolvedinoilservicetodayisonlyafractionofwhatitoncewas.Theremainingplayersarefewerbettercapitalizedhaveloweroperatingcostsaremorefocusedtechnicallyandtypicallyhavelargermarketsharethantheyoncehad.Theeetgrewfromtheoriginalelevenvesselsin1990totwenty-vebyyear-end1993.MuchofthedramaticincreaseresultedfromtheacquisitionofBPShippingLtd.thewhollyownedmarineservicesarmofBritishPetroleumBP.TheVesselsofGulfOffshoreMarineThenasnowGulfsvesselsweregenerallyoftwotypesplatformsupplyandanchorhandling.Theyeachperformavarietyoffunctions.Anchorhandlersarecharacterizedbyhigherhorsepowerandspecialequipmentsuchaslargetowingwinches.Thistypeofvesselisusedparticularlyduringtheeldexplorationphasetomoveandrepositionlargemobiledrillingrigs.Platformsupplyvesselshavelargedeckareaswhichareusedforcarryingcargosorcontainersaswellasextensiveunder-decktankfacilitiesfortransportingliquidproductsincludingfueldrinkingwaterandspecialtyuidsusedindrillingandproduction.Thelargestsupplyvesselshavespeciallydesignedandcongureddeckareasforcarryinglargediameterpipetoremotesitesinsupportofmajorsubseapipelineconstructionprograms.AdditionallythesevesselsarecapableofperformingsurveyROVremoteoperatedvehicleandotherspecializedsupportservices.TakesdeliveryofthenewbuildvesselHighlandFortress.TakesdeliveryofthenewbuildvesselsHighlandNavigatorNorthMarinerHighlandCourageandHighlandBugler.AcquirestheSeftonSupporterandClwydSupporteraftermanagingthesevesselsforoversixyears.TakesdeliveryofthefourremainingnewbuildprogramvesselsHighlandEagleHighlandMonarchHighlandValourandHighlandEndurance.20012002200120031993AnnualReportCoverImage