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Contract Wins and Joint Ventures

Gulf Marine Services clinches new contract

05 August 2016 07:40

Gulf Marine Services - a leading provider of advanced self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors - has won a new contract for one of its mid-size class vessels. The contract, scheduled to commence immediately, is for 12 months including options, with the vessel supporting a MENA-based national oil company (NOC).

In addition, a contract extension has been confirmed for one of the Group's Small Class vessels chartered to a different MENA-based NOC.

The extended period, which has already commenced, is for 12 months, with a further one-year option period remaining.

Chief executive Duncan Anderson said: "In the current challenging market conditions our state-of-the-art SESVs continue to offer the most cost-efficient offshore solutions for our clients seeking to extract maximum value from their assets while minimising costs. We are very pleased that our strong client relationships, leading operational expertise and flexibility have enabled us to secure a new contract and a contract extension for two of our vessels."

Story provided by StockMarketWire.com

Related Company: GMS

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