Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Page 17
Page 18
Page 19
Page 20
Page 21
Page 22
Page 23
Page 24
16AHistoryofGulfMarkOffshoreTheUT755couldoperatemuchmoreefcientlythanpreviousdesignsrequiringonlytwo-thirdsthecargotooperatecost-effectively.ThesevesselsenabledthecompanytocontinuetheobjectiveofbuildingonitsstrengthsinservicingnichemarketsintheNorthSeaSoutheastAsiaandSouthAmerica.PeopleareacompanysmostvaluableresourceandGulfMarkhasalwaysemployedtheindustrystopprofessionals.Byusingastrictselectionprocesstochooseemployeesandthenprovidingthemwiththebesttrainingworkingconditionsandenvironmenttheestablishmentofanextraordinarystaffisassured.Thecrewshavebeenbackedbyatop-ightmanagementorganizationtestedbyyearsofleadershipexperienceinmarinevesseloperation.Vesselperformancesafetyandreliabilityareimprovedbyacrewsabilitytoworktogetherasateamandthecompanyhasemphasizedkeepingcrewstogether.Personnelturnoveriskepttoaminimumandonoccasionworkingunitshavebeentogethermorethanadecade.GulfMarkOshoreInc.BuiltforPerformanceWiththeheadingforthebusinessrmlyestablished1997markedthelastrestructuringofthecompany.Therewasapro-ratadistributiontoallstockholdersofthecompanysholdingsinthepubliclytradedoilservicecompanyEnergyVenturesInc.EVI.AlongwiththeEVIsharesstockholdersreceivedasimultaneousdistributionofsharestwonewforeachexistinginanewentitycalledGulfMarkOffshoreInc.whichsucceededtothemainoperationsofthecompanytheoffshoremarineservicesunit.TheerosioncontrolunitErconwasseparatedfromthenewentity.ThetransactionprovidedimprovedliquidityforthenewGulfMarksharesfurtherbroadenedthecompanysequitybasewiththeadditionofanumberofnewstockholdersandraisedapproximately34millioninnewequity.HasonevesselworkinginAustraliatwoinQataroneinWestAfricatwoinIndiatwointheBlackSeaoperatingfromTurkey.SellstwooldervesselsHighlandPatriotandSentinel.Revenuesexceed300million.Revenuesexceed250million.Increasesthesharebaseinthecompanyby2millionshares.200520062007200620061997AnnualReportCoverImage