VIDEO: OSU picks Gulf Island to build research vessels

MAY 8, 2017 — Gulf Island Fabrication, Inc. (NASDAQ: GIFI) reports that, through its subsidiary Gulf Island Shipyards, LLC, it has received a contingent notice of intent to award from Oregon State University for the construction of a Regional Class Research Vessel (RCRV) with an option for two additional vessels.

The state-of -the-art, 193 ft ships will be highly flexible, multi-mission platforms that maximize energy efficient design concepts. The vessels will be ABS Ice-Class C0 and DPS-1, Green-Marine Certified, acoustically quiet, and carry up to 29 crew and embarked scientists.

The notice of intent to award is contingent upon the National Science Foundation’s approval to obligate construction funds for these vessels.

On final contract signing, says Gulf Island, it will include the revenue and man-hour backlog associated with the award in the relevant quarter's report.

“As we continue to explore areas outside our traditional sectors, we are excited to obtain this important project and we look forward to working closely with Oregon State University as they explore ways to enhance our environment for our way of life and for future generations beyond,” says Gulf Island Fabrication President and CEO Kirk J. Meche.

"OSU is excited to work with Gulf Island Shipyards to deliver the nation's newest class of oceanographic research ships to the National Science Foundation and the ocean science community. Gulf Island's reputation for quality work and customer service are a perfect fit for this important project," says Dr. Roberta Marinelli, Dean of OSU's College of Earth, Ocean, and Atmospheric Sciences.

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