Item 8.01 - Other Events

On September 4, 2012, the Company announced, among other things, that it had exercised the first four of its 48 shipyard options for the construction of additional vessels under its previously announced OSV Newbuild Program #5 at an aggregate incremental cost of approximately $180 million, excluding construction period interest, and the commencement of a retrofit program to stretch and upgrade six 200 class DP-1 OSVs into 240 class DP-2 OSVs at an estimated cost of approximately $50 million.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 - Financial Statements and Exhibits

(d) Exhibits

99.1 Press Release, dated September 4, 2012.

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