GMS sees ‘clear signs’ of market recovery. Signs Middle East deal

Gulf Marine Services, a provider self-elevating support vessels, has signed a new long-term contract award for one of its mid-size class vessels.

GMS said on Tuesday that the new charter is for three years, including options, and is scheduled to begin in early first quarter 2017.

According to the company, the vessel will be supporting well intervention activities for a national oil company in the Middle East and North Africa (MENA) region. No financial details were disclosed.

Duncan Anderson, CEO of GMS, said: “As we recently reported, we see an increase in tender opportunities in the Middle East.

“The new charter, which together with other recent contract wins has increased our total backlog by approximately two-thirds since November 1, 2016, demonstrates that the market is showing clear signs of recovery. This contract win has also further strengthened our business relationship with a strategic NOC client and improved our current geographic diversity.”

To remind, in the last two months, GMS won three contracts for two mid-size vessels in the MENA region which are both supposed to begin in the first quarter of 2017.

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply