Gulf Marine Services wins new contract for a Mid-Size Class vessel

Gulf Marine Services wins new contract for a Mid-Size Class vessel

Aug 08, 2016: Gulf Marine Services (GMS), the leading provider of advanced self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, wins 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.

Duncan Anderson, chief executive officer at GMS, 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."

Photo: GMS Endurance is one of the company's older SESVs

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