Gulf Marine Services (LSE: GMS), the leading provider of advanced self-propelled self-elevating support vessels serving the offshore oil, gas and renewable energy sectors, announced earlier today a new contract award for one of its Small Class vessels.

Gulf Marine Services Announces New Contract Award for a Small Class Vessel    

The new charter is for 12 months (including options) and is scheduled to commence shortly.  The vessel will be supporting well intervention activities for a National oil company (NOC) in the MENA region. 

Duncan Anderson, Chief Executive Officer of GMS, said:'"This new award, which follows last month's announcement of three long-term contracts, is further evidence of a continuing market recovery. The sustained higher oil price is having a positive impact in our sector, with increasing levels of maintenance and capex activity generating more contract opportunities for our vessels."  

Source: Gulf Marine Services