London-listed Gulf Marine Services (GMS) has won two new contracts for its advanced self‐propelled, self‐elevating support vessels to support offshore oil, gas and renewables projects
GMS also gained a contract extension for another of its active mid-tier vessels, raising its utilisation going into 2023.
These contract awards come with improved day rates and equate to 78 months of utilisation for all three vessels combined, significantly increasing the overall fleet backlog and secured revenue for GMS, said executive chairman Mansour Al Alami.
“These contract awards solidify our financial position going into 2023 and again reflect positively on the already favourable market conditions,” he said.
One of the new contracts is for a large-class self‐elevating support vessel, while the other is for a small-class vessel.
