Gulf Island to build second 3,300 hp towboat

Written by Nick Blenkey
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AUGUST 29, 2018 — Back in May, Gulf Island Fabrication, Inc. (NASDAQ: GIFI) reported that its Shipyard Division had been awarded a newbuild contract for the construction of a 3,300-horsepower towboat with an option for another vessel.

Yesterday, Gulf Island said that it had now been awarded the optioned towboat. Delivery of the the first vessel is estimated at 12 months after contract execution with delivery of second vessel estimated at two months after delivery of the first vessel.

Kirk Meche, President & CEO of Gulf Island, commented, “We are pleased to be awarded this option for the second newbuild towboat. This work will be performed at our shipyard in Houma, Louisiana. This is yet another indication of confidence from our customers as it relates to our ability to perform and provide quality vessels.”

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