Gulf Marine Services secures two-year contract extension in the GCC region

(Sharecast News) - Gulf Marine Services said on Tuesday that it has secured a two-year contract extension for one of its mid-size vessels currently operating in the Gulf Cooperation Council (GCC) region. The company, which provides self‐propelled, self‐elevating support vessels to the offshore energy industry, said this comprises one firm year plus a one-year option. With this extension secured, its backlog has increased to $607m.

Executive chairman Mansour Al Alami said: "Closing the year with this award is a strong endorsement of GMS's strategy, fleet performance and disciplined execution.

"With a robust backlog and a supportive industry outlook, we remain well positioned to deliver sustainable value for our stakeholders."

At 1015 GMT, the shares were up 6% at 19.89p.