Gulf Marine Services (GMS), a market‐leading provider of self‐propelled and self‐elevating support vessels for the offshore oil, gas, and renewables sectors, has announced the successful award of two contract extensions in the Gulf Cooperation Council (GCC) region.
The award of these contract extensions reflects continued highly favourable market conditions and the quality of the Company's fleet, reaffirming GMS's leading position in the industry and the strong demand for its vessel services.
Along with the 3 other contracts won in the first half of this year, these two contract extensions again support a higher level of utilisation and day rates. The first contract award involves the extension of a large class vessel until the end of November 2023 and the second for a small class vessel until the end of March 2024.
Commenting, Mansour Al Alami, GMS Executive Chairman, said: "These awards reflect continued market strength and the quality of GMS's client offering and give us reason for further optimism for the remainder of 2023. GMS remains committed to delivering an exceptional service and maintaining its position as a preferred provider of offshore vessel solutions." "We have a strong track record in delivering safe, efficient, and reliable vessel services that materially contribute to the success of our client's projects. This has earned us a level of trust and confidence in our capabilities that often make us the supplier of choice. Nonetheless, that is not something we take for granted and continually seek to improve the services we offer and would like to thank our dedicated customers for their continued support."