UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                    Washington, D.C.  20549

                          SCHEDULE 13G
           Under the Securities Exchange Act of 1934*

                 Gulf Island Fabrication, Inc.
                        (Name of Issuer)

                   Common Stock, no par value
                 (Title of Class of Securities)

                           402307102
                         (CUSIP Number)


     *The remainder of this cover page shall be filled out for  a
reporting  person's initial filing on this form with  respect  to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.

     The information required in the remainder of this cover page
shall  not be deemed to be "filed" for the purpose of Section  18
of  the  Securities  Exchange Act of 1934  ("Act")  or  otherwise
subject  to the liabilities of that section of the Act but  shall
be  subject to all other provisions of the Act (however, see  the
Notes).

CUSIP No. 402307102



     1)   Name of Reporting Person
          I.R.S. Identification No. of Above Person (entities only)
          Alden J. Laborde


     2)   Check  the Appropriate Box if a Member of a Group  (See
          Instructions)
          (a)                                               _____
          (b)                                               _____


     3)   SEC Use Only



     4)   Citizenship or Place of Organization
          United States


  Number of                        
 Shares Bene-                      (5)  Sole Voting Power             1,582,200*
   ficially                        
   Owned by                        
Each Reporting                     (6)  Shared Voting Power                 300*
    Person                         
     With                          
                                   (7)  Sole Dispositive Power        1,582,200*
                                   
                                   
                                   (8)  Shared Dispositive Power            300*



     9)   Aggregate Amount Beneficially Owned by Each
          Reporting Person                                            1,582,500*


     10)  Check if the Aggregate Amount in Row (9)
          Excludes Certain Shares (See Instructions)



     11)  Percent of Class Represented by Amount
          in Row (9)                                                       13.6*



     12)  Type of Reporting Person (See Instructions)        IN



*As of December 31, 1997.

Item 1(a).     Name of Issuer:

                    Gulf Island Fabrication, Inc.

Item 1(b).     Address of Issuer's Principal Executive Offices:

                    583 Thompson Road
                    Houma, Louisiana 70363
                    
Item 2(a).     Name of Person Filing:

                    Alden J. Laborde

Item 2(b).     Address of Principal Business Office:

                    210 Baronne Street, Suite 822
                    New Orleans, Louisiana 70112

Item 2(c).     Citizenship:

                    United States

Item 2(d).     Title of Class of Securities:

                    Common Stock, no par value

Item 2(e).     CUSIP Number:

                    402307102

Item 3.   If  this statement is filed pursuant to Rules 13d-1(b),
          or 13d-2(b), check whether the person filing is a:

          (a)  [ ]  Broker or Dealer registered under Section  15
                    of the Act
          (b)  [ ]  Bank as defined in section 3(a)(6) of the Act
          (c)  [  ] Insurance  Company as defined  in  section
                    3(a)(19) of the Act
          (d)  [  ] Investment  Company  registered  under
                    section 8 of the Investment Company Act
          (e)  [  ] Investment  Adviser  registered  under
                    section 203 of the Investment Advisers Act of
                    1940
          (f)  [  ] Employee  Benefit Plan,  Pension  Fund
                    which  is  subject to the provisions  of  the
                    Employee  Retirement Income Security  Act  of
                    1974   or  Endowment  Fund;  see  '  240.13d-
                    1(b)(1)(ii)(F)
          (g)  [  ] Parent  Holding Company, in accordance
                    with  ' 240.13d-1(b)(ii)(G) (Note:  See  Item
                    7)
          (h)  [ ]  Group, in accordance with ' 240.13d.13d-
                    1(b)(1)(ii)(H)


Item 4.             Ownership:

               (a)  Amount Beneficially Owned . . . . . . . . . .   1,582,500*

               (b)  Percent of Class . . . . . . . . . . . . .  .        13.6*

               (c)  Number of shares as to which such person has:

                    (i)  sole power to vote or to
                         direct the vote  . . . . . . . . . . . .   1,582,200*

                    (ii) shared power to vote or to
                         direct the vote . . . . . . . . . . .  .         300*

                    (iii)sole power to dispose or to
                         direct the disposition of . . . . . .  .   1,582,200*

                    (iv) shared power to dispose or to
                         direct the disposition of . . . . . .  .  . .    300*

*As of December 31, 1997

Item 5.             Ownership of Five Percent or Less of a Class.
               If  this  statement is being filed to  report  the
               fact  that  as  of the date hereof  the  reporting
               person  has ceased to be the beneficial  owner  of
               more  than  5  percent of the class of securities,
               check the following   .

Item 6.             Ownership of More than Five Percent on Behalf
               of Another Person:

                    Not applicable.

Item 7.              Identification  and  Classification  of  the
               Subsidiary  Which  Acquired  the  Security   Being
               Reported on By the Parent Holding Company:

                    Not applicable.

Item 8.              Identification and Classification of Members
               of the Group:

                    Not applicable.

Item 9.        Notice of Dissolution of Group:

                    Not applicable.

Item 10.       Certification:

                    Not applicable.

                           SIGNATURE

     After reasonable inquiry and to the best of my knowledge and
belief,  I  certify  that  the  information  set  forth  in  this
statement is true, complete and correct as of December 31, 1997.



     February 17, 1998                /s/ Alden J. Laborde
            Date                          Alden J. Laborde