GulfMark Offshore Inc is a Delaware corporation incorporated in 1996. It provides offshore marine support and transportation services to companies involved in the offshore exploration and production of oil and natural gas. Its vessels transport materials, supplies and personnel to offshore facilities, as well as move and position drilling structures. Its operations are conducted in the North Sea, offshore Southeast Asia and offshore in the Americas. The Company currently operates a fleet of 80 offshore supply vessels (OSVs) in the various regions: 36 vessels in the North Sea, 16 vessels offshore Southeast Asia, and 28 vessels offshore the Americas. At February 24, 2014, its active fleet includes 74 owned vessels and six managed vessels. The Company operating segments are the North Sea (N. Sea), Southeast Asia (SEA) and the Americas. The North Sea market is divided into three service segments namely exploration support; production platform support; and field development and construction (which include subsea services). The exploration support services market represents the primary demand for AHTSs. While PSVs support the exploration segment, also support the production platform and field development and construction segments. The North Sea-based fleet is oriented toward supply vessels that work in the more stable segments of the market: production platform support and field development and construction. The Southeast Asia market is defined as offshore Asia bounded roughly on the west by the Indian subcontinent and on the north by China, then south to Australia and east to the Pacific Islands. This market includes offshore Brunei, Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Australia, New Zealand, Bangladesh, Timor-Leste, Papua New Guinea and Vietnam. All vessels based out of the region are supported through its primary onshore bases in Singapore and Malaysia. The Company's customers are integrated oil and natural gas companies, independent oil and natural gas exploration and production companies working in international markets, and foreign government-owned or controlled oil and natural gas companies. Additionally, its customers also include companies that provide logistic, construction and other services to such oil and natural gas companies and foreign government organizations. The Company competes with approximately a dozen competitors in the North Sea market and numerous small and competitors in the Southeast Asia and Americas markets. It competes principally on the basis of suitability of equipment, price and service. The Company's operations are subject to a variety of federal, state, local and international laws and regulations regarding the discharge of materials into the environment or otherwise relating to environmental protection.
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