The following is text of a news release from Gulf Island Fabrication:
(HOUSTON) — Gulf Island Fabrication Inc. announced Wednesday that through its Shipyard Division, it has executed change orders on existing contracts with two customers to add two Z-Tech 30-80 terminal/escort tugs with FiFi (firefighting) outfitting to the company’s backlog, plus options for two additional non-FiFi tugs.
“We are very pleased to receive these follow-on change orders from Bay-Houston Towing Co. and Suderman & Young Towing Co. for the additional tugs since signing the original contract awards in May of 2017," said Kirk Meche, president and CEO of Gulf Island. "Our shipyard has been working closely with these valued customers and we appreciate their confidence and commitment with the follow-on order for more tugs. We expect to begin deliveries in late 2018 and are pleased with our progress to date on existing tug orders.”
“Since early 2017 and including these new orders, our Shipyard Division has added over $275 million in new contracts to backlog plus up to an additional $626 million if all outstanding options are exercised which include deliveries through 2025," Meche said. "With this new order and recent awards, our Shipyard Division has been successful in securing our largest and most diversified marine backlog and potential options in our history. I’d like to congratulate our team and thank our customers for their confidence in our ability to construct these vessels.”
