services as their deepwater vessel class counterparts except they are generally chartered to customers for  use in intermediate and shallow waters. Crewboats and utility vessels are chartered to customers for use in transporting personnel and supplies  from shore bases to offshore drilling rigs, platforms and other installations. These vessels are also often  equipped for oil field security missions in markets where piracy or violence present concerns. Offshore tugs tow floating drilling rigs; assist in the docking of tankers; tow barges; assist pipe laying, cable  laying and construction barges; and are used in a variety of other commercial towing operations, including  towing barges carrying a variety of bulk cargoes and containerized cargo. The company's vessels also include inshore tugs and production, line-handling and various other special  purpose vessels. Inshore tugs, which are operated principally within inland waters, tow drilling rigs to and  from their locations and tow barges carrying equipment and materials for use principally in inland waters for  drilling and production operations. Barges are either used in conjunction with company tugs or are chartered  to others. The company sold its remaining “other” type vessels during the first quarter of fiscal 2010.  Revenues from vessel operations were derived from the main classes of vessels in the following  percentages: Crewboats and Utility Vessels Offshore Tugs Other Vessels Revenue Contribution of Main Classes of Vessels  Shipyard Operations  Year Ended March 31,  2010 2009 2008 Deepwater vessels....................................................................................................................31.9% 24.0% 24.7% Towing-supply/supply................................................................................................................56.9% 61.9% 59.7% Crew/utility ..................................................................................................................................7.9% 9.0% 10.6%  Offshore tugs...............................................................................................................................3.3% 4.6% 4.6% Other............................................................................................................................................0.0% 0.5% 0.4%  Quality Shipyards, L.L.C., a wholly-owned subsidiary of the company, operates two shipyards in Houma,  Louisiana, which construct, modify and repair vessels. The shipyards perform repair work and new  construction work for outside customers, as well as the construction, repair and modification of the  company’s own vessels. During the last three fiscal years, Quality Shipyards, L.L.C. constructed and  delivered two 220-foot deepwater platform supply vessels, two 266-foot platform supply vessels, and is  currently constructing one additional 266-foot platform supply vessel for the company. The two 220-foot  platform supply vessels were delivered to the company during fiscal 2008, while the two 266-foot platform  supply vessels were delivered in December 2009 and late March 2010. The 266-foot deepwater, platform  supply vessel that is currently under construction is expected to be delivered in February 2012.  The company’s operations are materially dependent upon the levels of activity in offshore crude oil and  natural gas exploration, field development and production throughout the world, which is affected by trends  in worldwide crude oil and natural gas prices (including expectations of future commodity pricing) that are  ultimately influenced by the supply and demand relationship for these natural resources. The activity levels  of our customers are also influenced by the cost of exploring and producing crude oil and natural gas, which  can be affected by environmental regulations, technological advances that affect energy production and  consumption, significant weather conditions, the ability of our customers to raise capital, and local and  international economic and political environments. A discussion of current market conditions and trends  appears under “Macroeconomic Environment and Outlook” in Item 7 of this report.  Customers and Contracts  -9- 