1030749--2/29/2008--GULFMARK_OFFSHORE

related topics

{gas, price, oil}

{operation, natural, condition}

{operation, international, foreign}

{cost, contract, operation}

{personnel, key, retain}

{regulation, change, law}

{cost, regulation, environmental}

{acquisition, growth, future}

We rely on the oil and natural gas industry, and volatile oil and natural gas prices impact demand for our services. An increase in the supply of offshore support vessels would likely have a negative effect on charter rates for our vessels, which could reduce our earnings. Government regulation and environmental risks reduce our business opportunities and increase our costs. We are subject to hazards customary for the operation of vessels that could adversely affect our financial performance if we are not adequately insured or indemnified . Substantially all our revenue is derived from our international operations and those operations are subject to government regulation and operating risks. Changes in tax legislation in countries in which we operate could result in higher tax expense or a higher effective tax rate on our worldwide earnings. Our international operations are vulnerable to currency exchange rate fluctuations and exchange rate risks. Vessel construction and repair projects are subject to risks, including delays and cost overruns, which could have an adverse impact on our results of operations. Our current operations and future growth may require significant additional capital, and our indebtedness could restrict our ability to fund our capital requirements. Our industry is highly competitive, which could depress vessel prices and utilization and adversely affect our financial performance. The operations of our fleet may be subject to seasonal factors. We are subject to war, sabotage and terrorism risk. We depend on key personnel.

Full 10-K form ▸

1030749--2/29/2008--GULFMARK_OFFSHORE_INC