Exhibit 12.1

Cal Dive International, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Amounts in thousands of dollars, except ratios)

																Three Months Ended
	2000			2001			2002			2003			2004			March 31, 2005
Income before income taxes and change in accounting principle	$	34,015		$	44,296		$	19,041		$	52,671		$	125,693		$	40,501
Deduct undistributed income of less than 50% owned subsidiaries		—			—			—			—			(469	)		—
Distributed income of less than 50% owned subsidiaries		—			—			—			—			—			469
Amortization of capitalized interest		—			—			—			—			—			—
Less interest capitalized during the period		(120	)		(1,900	)		(4,400	)		(3,400	)		(243	)		(73	)
Fixed charges:
Interest, including amortization of debt issuance costs		590			1,998			6,700			6,000			5,843			1,363
Interest portion of rental expense (1)		208			172			1,930			2,123			2,168			505
Total fixed charges		798			2,170			8,630			8,123			8,011			1,868
Income before income taxes, change in accounting principle and fixed charges	$	34,693		$	44,566		$	23,271		$	57,394		$	132,992		$	42,765
Ratio of earnings to fixed charges		43.5			20.5			2.7			7.1			16.6			22.9

(1)       The portion of rental expense considered to be a reasonable approximation of the interest factor.