Gulf Marine Services PLC Two Contract Extensions
Friday 12 November 2021
GMS, a leading provider of advanced self-propelled, self-elevating support vessels serving the offshore oil, gas and renewables industries, is pleased to announce two contract extensions, on improved dayrates, for a K and S Class vessel. The extension period on both vessels will commence 1 January 2022, in direct continuance and run for 12 months on the K Class and 24 months for the S Class vessel. Both vessels are currently carrying out work for an NOC client in MENA.
Mansour Al Alami GMS Executive Chairman said:
"The two contract extensions, on improved rates, signal that the market for our vessels, particularly in MENA continues to tighten and that clients are taking action to ensure they have vessel availability to support their ongoing operations.
These awards further increase our confidence that the financial performance of the Company will continue to improve in 2022 and beyond."