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Gulf Marine Services wins two more GCC contract extensions

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Gulf Marine Services (GMS), a market-leading supplier of self-propelled and jack-up support vessels to the offshore oil, gas and renewable energy industries, announced that it has been awarded two contract extensions in the Gulf region.

A statement from GMS said the first contract award involved an extension until the end of November 2023 for the large vessel, and the second for the smaller vessel until the end of March next year.

These new contract extensions reflect very favorable market conditions and the quality of the company’s fleet, reaffirming GMS’ leading position in the industry and strong demand for its vessel services.

Together with the other three contracts won in the first half, these two contract extensions again support higher levels of utilization and dayrates, the company said.

Regarding the contract award, Executive Chairman Mansour Al Alami said: “This reflects continued market strength and the quality of GMS customer service, giving us reason to be more optimistic for the remainder of 2023.”

He stated that GMS will continue to strive for service excellence and maintain its position as the preferred supplier of marine marine solutions.

Al Alami noted that GMS has a proven track record of providing safe, efficient and reliable vessel services, which greatly contributes to the success of its clients’ projects.

“This earns us a level of trust and confidence in our capabilities that often makes us the supplier of choice,” he added.-TradeArabia News Service

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